AUDUBON, PA, January 6, 2015: Globus Medical, Inc. (NYSE:GMED), a leading musculoskeletal implant manufacturer, today announced preliminary unaudited sales results for the year ending December 31, 2014, in advance of its annual national sales meeting being held later this week. The company anticipates fourth quarter 2014 sales of approximately $128.5 million, an 11.5% increase over fourth quarter 2013. Full year 2014 estimated sales increased to approximately $474 million or 9.1% over the prior year, exceeding the company’s previous guidance range of $462-467 million.
“In 2014, we continued to focus on growing our business through the expansion of our sales force and the release of 16 innovative products. Our fourth quarter sales results demonstrate the effective execution of our strategy. We also continued to invest significantly in our robotics division throughout the year and completed the acquisition of Transplant Technologies of Texas in the fourth quarter of 2014. Looking to 2015, we are confident in our ability to continue to grow our business faster than the overall spine market while maintaining industry-leading profitability,” commented David Paul, Chairman and CEO of Globus.
The company expects 2015 sales to be approximately $510 million, with earnings per fully diluted share of approximately $1.01.
These preliminary results are unaudited and are based on management’s initial analysis of operations for the periods ended December 31, 2014, and are therefore subject to change. The company expects to announce its fourth quarter and full year 2014 financial and operating results in late February.
About Globus Medical, Inc.
Globus Medical, Inc. is a leading musculoskeletal implant company based in Audubon, PA. The company was founded in 2003 by an experienced team of professionals with a shared vision to create products that enable surgeons to promote healing in patients with musculoskeletal disorders. Additional information can be accessed at www.globusmedical.com.
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