Orthofix (Nasdaq:OFIX) this week posted third-quarter results that beat the overall consensus on Wall Street.
The Lewisville, Texas-based orthopedic company reported a net loss of $10.7 million, or -53¢ per share, on sales of $114 million for the three months ended Sept. 30 for a sales gain of 1.39% compared with Q3 2021.
Adjusted to exclude one-time items, earnings per share were 13¢, 1¢ ahead of The Street, where analysts were looking for sales of $113 million.
“New product innovation and commercial channel execution delivered a strong performance during the third quarter,” Orthofix President and CEO Jon Serbousek said in a news release. “Global Orthopedics, Biologics, and Bone Growth Therapies drove topline growth as solid portfolio-wide sales were bolstered by exciting market adoption trends from a number of recently launched products such as AccelStim Bone Healing Therapy and Virtuos Lyograft.”
“We are bullish about the future of Orthofix, ev…