Alphatec Holdings, Inc. (ATEC), a medical device company that is focused on developing, manufacturing, and marketing of products for the treatment and of spine disorders, announced financial results and record revenue for the third quarter ended September30, 2007.
Third Quarter 2007 Results Highlights include:
• Consolidated revenues reached a record high of $20.3 million, increasing 17.1% when comparing Q3 2006 and Q3 2007 results/
• US Revenue grew 20% from Q3 2006 to Q3 2007. Revenue totaled $16.8 million, showing a significant increase in company profitability.
• Asia Revenue also grew 4.6% to $3.5 million dollars
• Non GAAP net less per share was $.04, decreasing from the net GAAP loss of $.13 during Q3 2006.
• Consolidated adjusted EBITDA grew to $1.5 million in Q3 2007. This value represents a significant increase from a negative EBITDA value of $2.4 million reported Q3 of 2007.
Furthermore, the company has acquired exclusive worldwide licenses for their vertebroplasty technology system, entering into the large vertebral compression market.
“During the third quarter we made substantial strides in rebuilding on our heritage of customer service to the physician and developing innovative product solutions for the spinal disorder marketplace,” stated Dirk Kuyper, President and CEO. “In addition to the follow-on equity offering that we completed in the third quarter, we also completed the refinancing of our asset-based line-of-credit that will provide Alphatec with additional liquidity options to execute our plan of being the leading independent spinal disorder solutions company. The Alphatec team is coming together nicely and we are focused on accelerating our new product momentum and commercializing the exciting platform technologies that we licensed in the third quarter.”
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