Orthovita, Inc. (VITA) Reports 2011 First Quarter Financial Results
5/5/2011 11:10:13 AM
MALVERN, Pa.--(BUSINESS WIRE)--Orthovita, Inc. (NASDAQ: VITA), an orthobiologics and biosurgery company, reported financial results for the quarter ended March 31, 2011. Product sales for the first quarter of 2011 were $23.8 million compared to $24.1 million in the first quarter of 2010. Product sales for the first quarter of 2010 included $1.1 million in sales of Vitomatrix™, a bone graft material used in dental products, which sales occurred as part of an agreement to terminate our supply agreement for this product. We do not expect further sales of Vitomatrix. Excluding the Vitomatrix sale, product sales increased 3% in the first quarter of 2011 compared to the first quarter of 2010.
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