Orthofix medical inc. (OFIX)
Income statement / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Sep'10Jun'10
Product sales

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

87,761

86,868

76,832

-

88,296

88,579

88,300

93,345

80,037

85,929

90,241

97,585

96,552

101,902

97,608

-

-

-

-

-

-

Marketing service fees

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

13,390

14,086

12,930

-

12,698

12,406

11,714

12,541

11,769

11,711

12,038

12,388

11,305

11,521

11,328

-

-

-

-

-

-

Net sales

104,823

121,494

113,499

115,850

109,112

121,078

111,708

111,547

108,709

116,896

105,247

108,942

102,738

108,537

98,497

104,075

98,679

104,622

101,151

100,954

89,762

100,284

100,994

100,985

100,014

105,886

91,806

97,640

102,279

109,973

107,857

113,423

108,936

62,378

117,306

116,670

139,165

138,906

142,845

Cost of sales

23,409

26,191

24,896

25,812

23,708

25,626

24,020

22,835

24,147

23,562

23,717

23,177

22,581

23,320

19,880

22,516

22,137

21,411

23,865

21,910

19,339

21,457

25,268

25,414

26,773

34,123

25,064

21,884

25,841

27,417

24,384

27,547

21,378

16,014

23,854

23,186

33,361

32,266

34,087

Gross profit

81,414

95,303

88,603

90,038

85,404

95,452

87,688

88,712

84,562

93,334

81,530

85,765

80,157

85,217

78,617

81,559

76,542

83,211

77,286

79,044

70,423

78,827

75,726

75,571

73,241

71,763

66,742

75,756

76,438

82,556

83,473

85,876

87,558

46,364

93,452

93,484

105,804

106,640

108,758

Operating expenses
Sales and marketing

54,313

58,313

54,805

56,864

53,694

53,832

49,898

51,529

50,268

51,874

47,493

50,471

48,532

48,705

41,717

46,043

44,822

44,720

46,129

42,946

44,285

42,365

40,998

42,013

41,171

46,009

39,076

44,539

45,844

41,546

43,022

47,075

47,128

30,240

49,358

49,960

55,598

57,281

57,185

General and administrative

17,865

22,110

21,090

21,935

20,472

19,593

22,276

21,958

19,424

15,146

18,068

20,409

18,282

21,587

19,272

18,545

17,005

23,734

19,348

22,506

21,569

24,262

19,322

18,214

17,276

21,162

12,933

15,181

18,241

10,935

13,850

14,295

14,570

10,505

13,976

17,344

22,960

21,568

20,372

Research and development

9,964

8,446

7,982

8,980

9,229

8,792

9,598

7,891

6,937

8,454

6,935

6,887

7,424

7,509

6,858

6,796

7,640

7,570

6,523

6,451

5,845

6,176

6,572

6,313

5,933

6,115

6,361

8,551

5,741

5,417

6,858

9,252

7,050

4,598

5,982

6,229

6,052

7,375

8,370

Acquisition-related amortization and remeasurement (Note 13)

-7,582

2,339

23,608

1,808

6,457

833

2,009

1,419

63

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

SEC / FCPA matters and related costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-193

1,147

2,213

5,916

-

2,326

2,327

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Charges related to U.S. Government resolutions (Note 13)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1,499

-12,870

-

-

-

-

-

-

-

-

-

-

-

-

-

-236

-373

-376

-310

-11,141

0

0

-46,000

-

-

Impairment of goodwill

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

19,193

-

-

-

0

-

-

-

-

-

-

-

-

Amortization of intangible assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

584

-

616

565

544

573

565

580

580

203

537

555

1,255

1,402

1,410

Costs related to the accounting review and restatements

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

8,306

-

2,664

-

-

-

0

-

-

-

-

-

-

-

-

Total operating expenses

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

73,147

74,116

77,615

-

69,218

68,867

73,270

81,842

80,843

68,836

70,370

58,707

64,668

71,578

69,638

56,687

69,853

74,088

131,865

87,646

87,548

Operating income (loss)

6,854

4,095

-18,882

451

-4,448

12,402

3,907

5,915

7,870

17,860

9,034

7,998

5,919

7,416

9,271

-2,695

7,075

7,380

4,139

4,928

-7,192

3,953

6,508

6,704

-29

-10,079

-14,101

6,920

6,068

23,849

18,805

14,298

17,920

-10,323

23,599

19,396

-26,061

18,994

21,210

Other income and expense
Interest expense, net

-423

-508

186

457

-257

-213

-181

-251

-183

-522

-15

76

45

443

471

-113

-38

-166

-125

74

-272

-1,366

-395

-492

468

-3,363

539

455

542

211

464

1,265

2,221

-1,440

2,267

2,198

2,416

3,481

5,445

Loss on refinancing of credit facility

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

550

-

Gain on interest rate swap

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

909

Other expense, net

-798

643

-8,146

-236

-404

-596

-5,054

-3,643

2,912

-720

479

585

-4,348

-4,152

-634

147

1,833

-67

-1,736

853

691

-1,664

-1,322

363

-272

340

-1,481

-1,207

4,764

-654

-1,021

660

-631

-719

-399

-342

-1,073

-674

100

Total other income (expense)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1,861

927

419

-

-1,717

-129

-740

49

-2,020

-1,662

4,222

-865

-1,485

-605

-2,852

721

-2,666

-2,540

-3,489

-4,705

-4,436

Income (loss) before income taxes

5,633

4,230

-26,842

672

-5,109

11,593

-1,328

2,021

10,599

16,618

9,498

8,659

1,616

3,707

9,108

-2,661

8,870

7,147

2,278

5,855

-6,773

1,859

4,791

6,575

-769

-10,030

-16,121

5,258

10,290

22,984

17,320

13,693

15,068

-9,602

20,933

16,856

-29,550

14,289

16,774

Income tax benefit

-20,032

-7,456

13,656

1,219

-6,006

2,722

-117

1,096

5,373

15,102

6,150

3,924

3,924

8,824

-1,276

3,685

4,294

5,041

3,066

1,778

964

6,949

4,763

3,309

1,179

-391

383

3,246

4,364

6,904

6,746

3,823

6,471

-6,127

7,982

6,337

6,251

5,769

6,542

Net income (loss) from continuing operations

-

-

-

-

-

-

-

-

-

1,516

3,348

4,735

-2,308

-5,117

10,384

-6,346

4,576

2,106

-788

4,077

-7,737

-5,090

28

3,266

-1,948

-9,639

-16,504

2,012

5,926

16,080

10,574

9,870

8,597

-

12,951

10,519

-

-

-

Discontinued operations (Note 12)
Loss from discontinued operations

-

-

-

-

-

-

-

-

-

3

65

-1,300

-527

2,942

-1,018

-1,572

-990

488

-804

-730

-781

-

260

-5,829

-

-

-

-

-

-

-9,048

5,853

527

-

-

-

-

-

-

Income tax benefit

-

-

-

-

-

-

-

-

-

-49

-43

-418

-181

1,061

-530

-474

-254

-775

-221

-225

-139

-86

-164

-1,880

-234

-310

-43

-3,069

-1,481

5,869

-3,269

-2,197

-283

-

20

-235

-

-

-

Gain on sale of Breg, Inc., net of tax

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

221

1,040

-

-

-

-

-

-

-

Gain on sale of vascular operations, net of tax

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-20

-211

Net loss from discontinued operations

-

-

-

-

-

-

-

-

-

52

108

-882

-346

1,881

-488

-1,098

-736

1,263

-583

-505

-642

-

424

-

-794

3,820

-2,375

-8,092

-3,960

-

-

-

-

-

-553

-796

-

-

-

Net loss from discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-3,949

-560

-

-2,332

-5,023

-2,479

5,095

-5,558

-2,616

810

-

-573

-561

-

-

-

Net income

25,665

11,686

-40,498

-547

897

8,871

-1,211

925

5,226

1,568

3,456

3,853

-2,654

-3,236

9,896

-7,444

3,840

3,369

-1,371

3,572

-8,379

-5,798

452

-683

-2,508

-10,412

-18,836

-3,011

3,447

21,175

5,016

7,254

9,407

-4,233

12,378

9,958

-35,801

8,520

10,232

Net income (loss) per common share—basic
Net income (loss) from continuing operations

-

-

-

-

-

-

-

-

-

0.09

0.18

0.26

-0.13

-0.28

0.57

-0.35

0.25

0.11

-0.04

0.22

-0.41

-0.27

0.00

0.18

-0.11

-

-0.91

0.11

0.30

0.85

0.55

0.52

0.46

-

0.70

0.58

-

-

-

Net loss from discontinued operations

-

-

-

-

-

-

-

-

-

0.00

0.01

-0.05

-0.02

0.10

-0.02

-0.06

-0.04

0.07

-0.03

-0.03

-0.04

-0.03

0.02

-0.22

-0.03

-

-0.13

-0.27

-0.12

0.27

-0.29

-0.14

0.04

-

-0.03

-0.03

-

-

-

Basic

1.33

0.61

-2.14

-0.03

0.05

0.47

-0.07

0.05

0.28

0.09

0.19

0.21

-0.15

-0.18

0.55

-0.41

0.21

0.18

-0.07

0.19

-0.45

-0.30

0.02

-0.04

-0.14

-

-1.04

-0.16

0.18

1.12

0.26

0.38

0.50

-0.19

0.67

0.55

-2.00

0.48

0.58

Net income (loss) per common share—diluted
Net income (loss) from continuing operations

-

-

-

-

-

-

-

-

-

0.08

0.18

0.26

-0.13

-0.26

0.56

-0.35

0.24

0.12

-0.04

0.21

-0.41

-0.27

0.00

0.18

-0.11

-

-0.91

0.10

0.30

0.83

0.54

0.51

0.45

-

0.69

0.57

-

-

-

Net loss from discontinued operations

-

-

-

-

-

-

-

-

-

0.01

0.01

-0.05

-0.02

0.10

-0.02

-0.06

-0.04

0.06

-0.03

-0.02

-0.04

-0.03

0.02

-0.22

-0.03

-

-0.13

-0.26

-0.12

0.27

-0.29

-0.14

0.04

-

-0.03

-0.03

-

-

-

Diluted

1.32

0.61

-2.14

-0.03

0.05

0.47

-0.07

0.05

0.27

0.09

0.19

0.21

-0.15

-0.16

0.54

-0.41

0.20

0.18

-0.07

0.19

-0.45

-0.30

0.02

-0.04

-0.14

-

-1.04

-0.16

0.18

1.10

0.25

0.37

0.49

-0.17

0.66

0.54

-2.00

0.48

0.57

Weighted average number of common shares:
Basic

19,143

19,070

18,957

18,834

18,750

18,595

18,562

18,413

18,404

18,258

18,180

18,050

17,979

17,858

18,091

18,147

18,477

18,823

18,855

18,769

18,731

18,615

18,577

18,445

18,197

-

18,142

19,140

19,431

19,327

19,078

18,827

18,675

18,445

18,384

18,110

17,937

17,626

17,579

Diluted

19,299

18,629

18,957

18,834

19,191

19,374

18,562

18,835

18,874

19,099

18,572

18,343

17,979

18,564

18,382

18,147

18,758

18,603

18,855

18,989

18,731

18,244

18,773

18,621

18,197

-

18,142

19,270

19,691

19,696

19,533

19,215

19,116

17,548

18,850

18,541

17,937

17,836

17,892

Other comprehensive loss, before tax
Unrealized gain (loss) on derivative instrument

-

-

-

-

-

-

-

-

-

-

-

-

-

-484

-3

79

48

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Unrealized loss on debt security

-

0

0

0

-2,593

-

1,240

1,960

-

7,050

0

0

-3,220

-2,587

4,703

-3,036

-824

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Reclassification adjustment for amortization of historical unrealized gains on debt security

-

-

345

689

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Reclassification adjustment for other-than-temporary impairment on debt security

-

-

5,193

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Reclassification adjustment for loss on debt security in net income

-

-

-

-

-

-

-

-

-

0

0

0

5,585

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Currency translation adjustment

-1,711

1,542

-1,893

147

-449

-501

-844

-1,175

697

559

1,111

2,648

234

-2,197

820

-570

1,221

-241

-365

1,559

-4,860

-1,405

-3,302

198

376

-1,524

3,206

-711

-2,679

-

-

-

-

-

-

-

-

-

-

Other comprehensive loss before tax

-1,711

1,542

-7,431

-542

-3,042

-1,931

396

785

697

7,609

1,111

2,648

2,599

-2,541

5,520

-3,527

445

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Income tax related to other comprehensive loss

-

-1

-1,388

-171

-641

-

366

432

-

2,700

0

0

900

-109

1,694

-1,065

-275

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other comprehensive loss, net of tax

-1,711

1,543

-6,043

-371

-2,401

-1,571

30

353

697

4,909

1,111

2,648

1,699

-2,432

3,826

-2,462

720

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Unrealized (loss) gain on derivative instruments, net of tax

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-706

271

665

-

112

-31

103

-

583

222

-318

-

-

-

-

-

-

-

-

-

-

Comprehensive income (loss)

23,954

13,229

-46,541

-918

-1,504

7,300

-1,181

1,278

5,923

6,477

4,567

6,501

-955

-5,668

13,722

-9,906

4,560

955

-2,442

5,402

-12,574

-7,139

-2,738

-516

-2,029

-12,702

-15,047

-3,500

450

22,156

6,440

3,842

11,808

-4,778

5,664

11,793

-32,711

-

-