Alphatec Spine Reports Preliminary Fourth Quarter and Full-Year 2008 Revenues; Provides 2009 Revenue and Earnings Guidance
13 Januar 2009 - 2:00PM
Business Wire
Alphatec Holdings, Inc. (Nasdaq:ATEC), the parent company of
Alphatec Spine, Inc., a medical device company that designs,
develops, manufactures and markets products for the surgical
treatment of spine disorders, with a focus on treating conditions
related to the aging spine, announces today that, based on
preliminary financial data, the Company will report record
consolidated quarterly revenues for the fourth quarter 2008 of
approximately $28.4 million, an increase of approximately 33% over
revenues from the prior year fourth quarter. For the year ended
December 31, 2008, the Company will report record consolidated
revenues of approximately $101.2 million, an increase of
approximately 26.5% over revenues from the prior year.
The Company projects full-year 2009 revenues to be between $123
million and $125 million and full-year 2009 adjusted EBITDA to be
between $12 million and $14 million. The Company is providing
guidance for positive adjusted EBITDA in the first quarter of 2009
and expects to be EPS positive in the third quarter of 2009.
Conference Call Information
The Company will hold an investor conference call today, January
13, 2009 at 5:30 a.m. Pacific (8:30 a.m. Eastern). The conference
call number is (877) 741-4253 for the U.S. and (719) 325-4778 for
international callers.
About Alphatec Spine
Alphatec Spine, Inc. is a wholly owned subsidiary of Alphatec
Holdings, Inc. (Nasdaq:ATEC). Alphatec Spine is a medical device
company that designs, develops, manufactures and markets products
for the surgical treatment of spine disorders, primarily focused on
the aging spine. The Company's mission is to combine world-class
customer service with innovative, surgeon-driven design that will
help improve the aging patient's quality of life. The Company is
poised to achieve its goal through new solutions for patients with
osteoporosis and other aging spine deformities, improved minimally
invasive products and techniques and integrated biologics
solutions. In addition to its U.S. operations, The Company also
markets its spine products in Europe. In Asia, the Company markets
a broad line of spine and orthopedic products through its
subsidiary, Alphatec Pacific, Inc. For more information, please
visit www.alphatecspine.com.
Also visit the Aging Spine Center, www.agingspinecenter.com, a
web-based information portal for healthcare providers and patients
regarding aging spine disorders and their treatment. The Company is
working with the National Osteoporosis Foundation as well as other
clinical portals that provide peer-reviewed content, to populate
the Aging Spine Center. The interactive website will enable
patients to review pertinent information about disorders that
affect the aging spine in an easy-to-understand format that
includes videos, graphics and questions that should be asked of
caregivers. Medical information will include published abstracts
regarding the aging spine.
Non-GAAP Information for Adjusted EBITDA
Earnings before interest, taxes, depreciation, and amortization
(�adjusted EBITDA") included in this press release is a non-GAAP
(generally accepted accounting principles) financial measure which
represents net income (loss) excluding the effects of interest,
taxes, depreciation, amortization, stock based compensation costs,
and other non-recurring income of expense items, such as in-process
research and development expenses. Adjusted EBITDA, as defined
above, may not be similar to adjusted EBITDA measures used by other
companies and is not a measurement under GAAP.
Though management finds adjusted EBITDA useful for evaluating
aspects of the Company's business, its reliance on this measure is
limited because excluded items often have a material effect on the
Company's earnings and earnings per common share calculated in
accordance with GAAP. Therefore, management uses adjusted EBITDA in
conjunction with GAAP earnings and earnings per common share
measures. The Company believes that adjusted EBITDA provides
investors with an additional tool for evaluating the Company's core
performance, which management uses in its own evaluation of
performance, and a base-line for assessing the future earnings
potential of the Company. While the GAAP results are more complete,
the Company prefers to allow investors to have this supplemental
metric since, with reconciliation to GAAP, it may provide greater
insight into the Company's financial results.
Forward Looking Statements
This press release may contain "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995 that involve risks and uncertainty. Such statements are
based on management's current expectations and are subject to a
number of risks and uncertainties that could cause actual results
to differ materially from those described in the forward-looking
statements. These forward-looking statements include, but are not
limited to Alphatec Spine's ability to meet the fourth quarter
2008, full-year 2008 and 2009 financial targets set forth in this
press release. Alphatec Spine cautions investors that there can be
no assurance that actual results or business conditions will not
differ materially from those projected or suggested in such
forward-looking statements as a result of various factors,
including, but not limited to, the following: Alphatec Spine�s
ability to meet its 2009 revenue and earnings projections,
uncertainty of success in developing new products or products
currently in Alphatec Spine's pipeline, Alphatec Spine's ability to
develop and expand its business in the United States, Asia and
Europe, unanticipated expenses or liabilities or other adverse
events affecting cash flow or Alphatec Spine's ability to
successfully control its costs or achieve profitability, product
liability exposure, patent infringement claims and claims related
to Alphatec Spine's intellectual property. Please refer to the
risks detailed from time to time in Alphatec Spine's SEC reports,
including quarterly reports on Form 10-Q, reports on Form 8-K and
annual reports on Form 10-K. Alphatec Spine disclaims any intention
or obligation to update or revise any forward-looking statements,
whether as a result of new information, future events, or
otherwise, unless required by law.
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