SeaSpine Announces First Quarter 2016 Financial Results

CARLSBAD, Calif., May 12, 2016 (GLOBE NEWSWIRE) -- SeaSpine Holdings Corporation (NASDAQ:SPNE), a global medical technology company focused on surgical solutions for the treatment of spinal disorders, announced today financial results for the first quarter ended March 31, 2016 and reaffirmed guidance for 2016.

Recent Highlights

  • Revenue totaled $31.4 million in the first quarter 2016, a 2.8% decline compared to the first quarter of 2015;
  • U.S. revenue decreased 2.8% to $28.5 million
    • U.S. orthobiologics product revenue of $14.9 million, a 4.6% increase over the prior year
    • U.S. spinal hardware product revenue of $13.6 million, a 9.7% decrease compared to the prior year
  • Continued to re-engage existing and new surgeons and distributors through medical education programs and collaborative thought leader discussions
  • Broadened awareness and market penetration for recently launched products, including Cabo™ Anterior Cervical Plate system and Cambria™ NanoMetalene® Cervical Interbody Device

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