MALVERN, Pa.--(BUSINESS WIRE)--Orthovita, Inc. (NASDAQ:VITA), a spine and orthopedic biosurgery company, reported financial results for the quarter and year ended December 31, 2007. Product sales for the quarter ended December 31, 2007 increased 13% to $15.6 million as compared to $13.8 million for the same period in 2006. Product sales for 2007 increased 24% to $58.0 million, as compared to $46.8 million for 2006. Excluding sales of our VITOMATRIX™ dental scaffold, which is not sold by our sales and distribution channel, and our former ENDOSKELETON™ product, product sales for the quarter and year ended December 31, 2007 increased 19% and 26%, respectively, as compared to the same periods in 2006. See “Non-GAAP Disclosures and Reconciliation” below for a detailed reconciliation between the non-GAAP and GAAP reported sales results.
