AUDUBON, PA, January 14, 2014: Globus Medical, Inc. (NYSE:GMED), a leading musculoskeletal implant manufacturer, today announced preliminary unaudited sales results for the year ending December 31, 2013, in advance of its annual national sales meeting being held later this week. The company anticipates fourth quarter 2013 sales of $115.2 million, a 14.6% increase over fourth quarter 2012. Full year 2013 estimated sales increased 12.6% over the prior year to $434.5 million, exceeding the company’s previous guidance of $432 million.
“2013 was an outstanding year of execution, delivering innovative new products, and expanding our salesforce, while delivering strong financial results. Our business remains robust, and our fourth quarter and full year performance in 2013 is a testament to the consistent and focused execution of our strategy. We believe we will continue to grow our business at rates significantly above the industry by innovating in rapid response to the needs of our customers and patients and growing our sales footprint on a worldwide basis,” commented David Paul, Chairman and CEO of Globus.
The company expects 2014 sales to be in the range of $480-$486 million, with earnings per fully diluted share of $0.90 to $0.92. This takes into account the potential dilutive impact of development expenses associated with the acquisition of Excelsius Surgical of $0.05 to $0.07 per fully diluted share, as previously announced.
These preliminary results are unaudited and are based on management’s initial analysis of operations for the periods ended December 31, 2013, and are therefore subject to change. The company expects to announce its fourth quarter and full year 2013 financial and operating results in late February.
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