Key Developments For Wright Medical Group, Inc.
Wright Medical Group, Inc. (WMGI.O) (Nasdaq)
Wright Medical Group, Inc. Announces CFO Transition
Wright Medical Group, Inc. announced the appointment of Lance A. Berry as Senior Vice President and Chief Financial Officer (CFO), effective December 11. Mr. Berry will replace John K. Bakewell, who notified Wright that he will resign effective December 11 to accept a position with another company.
Wright Medical Group, Inc. Receives FDA Approval To Market CONSERVE Plus Total Hip Resurfacing System
Wright Medical Group, Inc. announced that the United States Food and Drug Administration (FDA) has given approval to the Company to market its original CONSERVE Plus Total Hip Resurfacing System. Now available in the United States, this total surface arthroplasty system provides surgeons and their patients a bone-conserving alternative to traditional total hip replacement.
Wright Medical Group, Inc. Raises Low End Of Prior FY 2009 Revenue Guidance To A Range Above Analysts' Estimates; Raises Low End Of Prior FY 2009 EPS Guidance; Issues Q4 2009 Guidance
Wright Medical Group, Inc. narrowed its sales guidance for fiscal 2009 to be in the range of $480-$485 million, representing the upper end of its previously-communicated guidance range of $475-$485 million. The Company also narrowed its previously-communicated as-adjusted earnings per share (EPS) guidance to a target range for fiscal 2009 to be in the range of $0.80-$0.84 per diluted share compared to its previously communicated guidance range of $0.78-$0.85 per share. For the fourth quarter of 2009, it expects net sales to be in the range of $122-$127 million and adjusted EPS to be in the range of $0.22-$0.26. The Company's earnings targets for fiscal 2009 and the fourth quarter of 2009 exclude the effect of possible future acquisitions, other material future business developments, the impact of recording non-cash stock-based compensation and restructuring charges, and costs associated with the Company's ongoing U.S. governmental inquiries. According to Reuters Estimates, analysts are expecting the Company to report EPS of $0.56 on revenues of $477 million for fiscal 2009; EPS of $0.19 on revenues of $125 million for the fourth quarter of 2009.
Wright Medical Group, Inc. Launches DYNASTY BIOFOAM Acetabular Cup System
Wright Medical Group, Inc. announced the launch of the DYNASTY BIOFOAM Acetabular Cup System. The BIOFOAM material also features a trabecular structure intended to mimic bone and contribute to bone in-growth and biological fixation.
Wright Medical Group, Inc. Establishes Direct Australian Subsidiary
Wright Medical Group, Inc. announced that it has launched a new subsidiary, Wright Medical Australia Pty, LTD. The new entity will directly manage all of the Company`s extremity and biologics distribution for customers in Australia and New Zealand.
