Key Developments: Orthofix International NV (OFIX.O)
28.28USD
14 Jun 2013
$0.12 (+0.43%)
$28.16
$28.08
$28.36
$27.90
167,855
201,931
$45.62
$25.30
Latest Key Developments (Source: Significant Developments)
Orthofix International NV Issues Q2 2013 Revenue Guidance Below Analysts' Estimates
Orthofix International NV announced that for second quarter of 2013, it expects revenues to be between $104 million and $107 million. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $120 million for second quarter of 2013. Full Article
Orthofix International NV Appoints Emily Buxton As Chief Financial Officer
Orthofix International NV announced that it has appointed Emily Buxton as its Chief Financial Officer (CFO). Ms. Buxton had been serving as the Company's Interim Chief Financial Officer since October 2012. Full Article
Orthofix International NV Appoints Brad Mason As President And Chief Executive Officer
Orthofix International NV announced that it has appointed Brad Mason as its President and Chief Executive Officer, effective immediately. Mr. Mason succeeds Robert Vaters, who resigned to pursue other interests. As an industry veteran, Mr. Mason brings deep knowledge of the Company's products, distribution channels, and markets, as well as proven senior leadership in both building and integrating medical device organizations. Full Article
Orthofix International NV Issues FY 2013 Guidance Below Analysts' Estimates
Orthofix International NV announced that for fiscal 2013, it expects constant currency net sales growth to be between 1.0% and 3.0% over net sales in fiscal 2012. The Company anticipates foreign currency translation to negatively impact net sales by 0.5%, reported net sales growth to be between 0.5% and 2.5%, or $465 million and $475 million, GAAP net income from continuing operations to be between $2.84 and $2.94 per diluted share and GAAP EPS Range to be $2.84 -$2.94. The Company reported revenue of $462 million in fiscal 2012. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $481 million and EPS of $3.06 for fiscal 2013. Full Article
Orthofix International NV Issues Q4 2012 Guidance; Revenue Guidance Below Analysts' Estimates; Lowers FY 2012 Guidance
Orthofix International NV announced that for the fourth quarter of 2012, it expects net sales to be approximately $112 million and adjusted earnings from continuing operations per share (EPS) to be between $0.78 and $0.83. For fiscal 2012, it expects net sales from continuing operations to be approximately $462 million and adjusted earnings from continuing operations per share (EPS) to be between $3.01 and $3.06. According to I/B/E/S Estimates, analysts were expecting the Company to report revenue of $123 million and EPS of $0.82 for the fourth quarter of 2012; revenues of $473 million and EPS of $3.05 for fiscal 2012. Full Article
Orthofix International NV Concludes Bone Growth Stimulator Investigation
Orthofix International NV announced that it has resolved all matters related to the investigation of its bone growth stimulation business. Consistent with the agreement in principle that the Company previously announced in May 2011, the Company will pay approximately $43 million to resolve all civil and criminal matters, which included a plea to obstruction of a June 2008 federal audit. These charges were previously recorded in the first quarter of 2011. As part of the resolution, the Court imposed a five-year term of probation, during which the Company must continue to comply with the terms of its previously-executed Corporate Integrity Agreement. This final settlement also includes the resolution of a related qui tam complaint filed against the Company, which remains pending against several of its competitors. Full Article
Orthofix International NV Lowers FY 2012 Guidance
Orthofix International NV announced that for fiscal 2012, it expects net sales from continuing operations to be between $472 million to $475 million, up 1% on a reported basis, or 3% on a constant currency basis. The Company expects GAAP earnings per share from continuing operations to be approximately $2.84 to $2.89 per diluted share, and adjusted earnings from continuing operations to be approximately $3.03 to $3.08 per diluted share. According to I/B/E/S Estimates, analysts were expecting the Company to report revenues of $483 million and EPS of $3.05 for fiscal 2012. Full Article
Orthofix International NV Lowers FY 2012 Revenue Guidance; Reaffirms FY 2012 EPS Guidance
Orthofix International NV announced that for fiscal 2012, it expects net sales from continuing operations to be between $481 million to $491 million, GAAP earnings per share (EPS) from continuing operations to be approximately $2.79 to $2.89 per diluted share, and adjusted earnings per share (EPS) from continuing operations to be approximately $2.95 to $3.05 per diluted share. According to I/B/E/S Estimates, analysts were expecting the Company to report revenues of $501 million and EPS of $2.99 for fiscal 2012. Full Article
Orthofix International NV To Pay $5.2 Million To Settle Bribery Charges-Reuters
Reuters reported that Orthofix International NV will pay $5.2 million to settle charges that its Mexican subsidiary paid bribes to government officials to obtain sales contracts with hospitals, the U.S. Securities and Exchange Commission said. The SEC alleged the Company's Promeca subsidiary regularly paid bribes, referred to as chocolates, in the form of cash, laptop computers, televisions and appliances in a scheme that yielded nearly $5 million in illegal profits for the unit over a period of seven years. Full Article
Orthofix International NV Completes Divestiture Of Sports Medicine Business Unit
Orthofix International NV announced that it completed the divestiture of its Sports Medicine Business Unit, Breg, Inc., to Water Street Healthcare Partners, a strategic private equity firm focused exclusively on the health care industry. The purchase price was $157.5 million less normal and customary working capital adjustments and indebtedness. The Company applied $145.0 million of after-tax net proceeds to the prepayment of outstanding Company indebtedness, as required by the Company`s existing credit agreement. Full Article
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