Bacterin International Holdings, Inc. (NYSE MKT: BONE), a leader in the
development of revolutionary bone graft material and coatings for
medical applications, announced today preliminary unaudited revenue for
the first quarter of 2014.
The Company is expecting total net revenue for the first quarter of 2014
to be in the range of $8.7 million to $8.9 million, representing a
sequential increase of approximately 7% over the fourth quarter of 2013,
and an increase of 2% when compared to $8.6 million reported for the
first quarter of 2013.
Core recurring Biologics revenue, which excludes stocking orders, are
expected to be in the range of $8.6 million to $8.7 million for the
quarter, a 7% increase over the fourth quarter of 2013, and a 20%
increase over the same period last year.
"Our first quarter results are promising," says Bacterin CEO, Dan
Goldberger. "We have now posted two consecutive quarters of sequential
and year-over-year revenue growth. I believe that our new product
launches and revitalized sales function are moving Bacterin in the right
direction. As we continue to grow our sales force, expand into new
territories, and launch new products we expect to see continued growth
from our core business."
The quarterly financial results included in this release are prior to
the completion of review by Bacterin's external auditors and are
therefore subject to adjustment.
First Quarter Results Conference Call
The Company also announced that it expects to provide first quarter 2014
financial results after the market closes on May 6, 2014 and will host a
conference call at 10:00 a.m. EDT on May 7, 2014. Details regarding the
call will be issued in a separate release.
About Bacterin Internatinal Holdings
Bacterin International Holdings, Inc. (NYSE MKT: BONE) develops,
manufactures and markets biologics products to domestic and
international markets. Bacterin's proprietary methods optimize the
growth factors in human allografts to promote bone growth, subchondral
repair and dermal growth. These products are used in a variety of
applications including enhancing fusion in spine surgery, relief of back
pain, promotion of bone growth in foot and ankle surgery, promotion of
cranial healing following neurosurgery and subchondral repair in knee
and other joint surgeries.
Bacterin's Medical Device division develops and licenses coatings for
various medical device applications. For further information, please
Important Cautions Regarding Forward-looking Statements
This news release contains certain disclosures that may be deemed
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995 that are subject to significant risks and
uncertainties. Forward-looking statements include statements that are
predictive in nature, that depend upon or refer to future events or
conditions, or that include words such as "continue," "efforts,"
"expects," "anticipates," "intends," "plans," "believes," "estimates,"
"projects," "forecasts," "strategy," "will," "goal," "target,"
"prospects," "potential," "optimistic," "confident," "likely,"
"probable" or similar expressions or the negative thereof. Statements of
historical fact also may be deemed to be forward-looking statements. We
caution that these statements by their nature involve risks and
uncertainties, and actual results may differ materially depending on a
variety of important factors, including, among others: the ability of
the Company's sales force to achieve expected results, the Company's
ability to meet its existing and anticipated contractual obligations,
including financial covenant and other obligations contained in the
Company's secured lending facility; the Company's ability to manage cash
flow; the Company's ability to obtain shareholder approval of financing
transactions; the Company's ability to develop, market, sell and
distribute desirable applications, products and services and to protect
its intellectual property; the ability of the Company's customers to pay
and the timeliness of such payments; the Company's ability to obtain
financing as and when needed; changes in consumer demands and
preferences; the Company's ability to attract and retain management and
employees with appropriate skills and expertise; the Company's ability
to successfully conclude government investigations; the impact of
changes in market, legal and regulatory conditions and in the applicable
business environment, including actions of competitors; the Company's
ability to remain listed on the NYSE MKT; and other factors. Additional
risk factors are listed in the Company's Annual Report on Form 10-K and
Quarterly Reports on Form 10-Q under the heading "Risk Factors." The
Company undertakes no obligation to release publicly any revisions to
any forward-looking statements to reflect events or circumstances after
the date hereof or to reflect the occurrence of unanticipated events,
except as required by law.
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