Actionable news
0
All posts from Actionable news
Actionable news in INSY: Insys Therapeutics, Inc.,

Wright Medical Group (WMGI) Q2 Loss Narrower than Expected

Wright Medical Group N.V. WMGI reported adjusted loss of 7 cents per share in the second quarter of 2017, narrower than the Zacks Consensus Estimate of a loss of 9 cents.

Also, loss narrowed by 2 cents on a year-over-year basis.

Net sales in the second quarter totaled $179.7 million, which surpassed the consensus mark of $178 million.

Meanwhile, in three of the last four quarters, the company delivered positive earnings surprises, the average being 15.04%. Currently, the stock has a Zacks Rank #3 (Hold).

Quarter in Detail

Wright Medical currently reports revenues under the Total Extremities & Biologics segment.

Consolidated sales at the segment in the U.S. increased 9.1% from the year-ago quarter to almost $132.9 million. Internationally, sales in the extremities and biologics business were down 4.3% year over year to $46.8 million.

Wright Medical Group N.V. Price, Consensus and EPS Surprise

Wright Medical Group N.V. Price, Consensus and EPS Surprise | Wright Medical Group N.V. Quote

Total Extremities & Biologics includes four sub-segments, namely, Lower Extremities, Upper Extremities, Biologics and Sports Med & Other.

Lower Extremities: Sales at the segment increased 1.3% on a year-over-year basis to $69.1 million in the quarter.

The U.S. lower extremities business sales increased 4.5% in the second quarter. Per management, growth in the U.S. lower extremities was driven by total ankle growth rates and reduced headwinds from dis-synergies resulted in a 4.5 percentage point improvement from the first quarter growth rate.

Internationally, lower extremities sales fell 9.1% on a year-over-year basis.

Upper Extremities: Sales at the segment increased 9% on a year-over-year basis to $80.5 million in the quarter under review.

The U.S. upper extremities business grew 15.3% on a year-over-year basis, driven by the ongoing launch of the PERFORM Reversed glenoid along with the expanded BLUEPRINT surgical planning modules that became available...


More