By Business Wirevia The Motley Fool
Filed under: Investing
Bacterin Announces Record 2012 Revenue of $33 Million
Full Year 2012 Highlights:
- Revenue increased 9% to approximately $33.0 million in 2012, compared to approximately $30.1 million for fiscal year 2011
- Loss from operations improved by 23% to approximately $(4.9) million, compared to approximately $(6.5) in fiscal year 2011
Fourth Quarter 2012 Highlights:
- Revenue for the period was approximately $8.1 million, compared to the approximately $9.1 million for the fourth quarter of 2011. Excluding a $1.4 million corporate stocking order sale in the fourth quarter of 2011, revenue increased [5%] for the fourth quarter of 2012.
- Loss from operations increased to approximately $(3.5) million, compared to a loss of approximately $(2.7) million in the fourth quarter of 2011
BELGRADE, Mont.–(BUSINESS WIRE)– Bacterin International Holdings, Inc. (NYSE MKT: BONE), a leader in the development of revolutionary bone graft material and coatings for medical applications, today reported its financial results for the fourth quarter and full year ended December 31, 2012. The Company reported 2012 revenues of $33.0 million, an increase of 9% from reported 2011 revenues of $30.1 million. In addition, the Company reported a net loss for 2012 of approximately $7.7 million, or ($0.18) per common share, compared to a net loss of approximately $3.0 million, or ($0.08) per common share, reported during the same period in 2011.
Revenue
Revenue for the year was a record $33.0 million, up 9% compared to approximately $30.1 million for 2011. The increase during the period was primarily attributed to the higher sales from the Company’s sales force combined with improved penetration into its existing accounts.
Revenue softened during the fourth quarter to $8.1 million, compared to $9.1 million reported for the fourth quarter of 2011. The lower results reflect not closing anticipated, larger sales to corporate entities as well as increased pricing pressure. Excluding a $1.4 million corporate stocking order sale in the fourth quarter of 2011, revenue increased 5% for the fourth quarter of 2012.