Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
In your opinion is this stock a buy and hold long term or short term position
Now a buy!
The NASDAQ delisting warning has hit (2 180 day extensions to get share price over $1). Very over-sold, very over-shorted. Margin has been shaken out, the long holders who were inclined to bail have done so. Should start to recover now. Company guidance in august was strong. They do not believe the poor quarter that initiated the sell off will be repeated. The new sales people brought in last quarter should be trained and selling, the sales people who were less productive last quarter because they were training new sales people should be productive. And they're selling new products.
Q3, if not profitable, should show a much lessening loss. Q4 should be profitable again. With improving quarters ahead the stock should start recovering to it's $1.40 average before the fall. With an investment at these levels that's a projected 200% gain _IF_ the company's guidance holds true.
Pretty much a no brainer this would bounce off of .50 area
z
agree, wait to load when the bottom confirmed.
They had a CC on the 5th......can always count on a stock to drop after one of those......but this is ridiculous.......may bounce.......z
WTF Happened?......et z
Whats going on over here? On the watch list. Whats the float? Still 61.17m?
$ATEC ~ Daily Par Sar Buy Signal ~ Criteria alert triggered during a recent trading session!
$ATEC has just triggered the "Parabolic SAR Buy Signals" scan criteria at Stockcharts.com
~ http://tinyurl.com/SAR-BUY ~
For a more in Depth study and DD profile, similar to the one contained in this link: ~ http://tinyurl.com/DDexample ~
Click the following link and type ticker or brief message asking me about the DD: ~ http://tinyurl.com/GET-THE-DD ~
What does the scan "Parabolic SAR Buy Signals" mean? Below is an image example and study link.
~ http://stockcharts.com/school/doku.php?id=chart_school:technical_indicators:parabolic_sar ~
To find other similar posts of "ATEC" utilize the links that follow.
Search MACDgyver's "Parabolic SAR Buy Signals" posts: ~ http://investorshub.advfn.com/boards/msgsearchbymember.aspx?searchID=251916&srchyr=2013&SearchStr=ParSarBuyScan ~
Search MACDgyver's posts for symbol "ATEC": ~ http://investorshub.advfn.com/boards/msgsearchbymember.aspx?searchID=251916&srchyr=2013&SearchStr=ATEC ~
Search Ihub for "ATEC" posts: ~ http://investorshub.advfn.com/boards/msgsearch.aspx?SearchStr=ATEC ~
For more in depth training and information visit Chartschool on the Stockcharts page.
~ http://stockcharts.com/school/doku.php?id=chart_school ~
Also don't forget the Ihub Edu Channel.
~ http://investorshub.advfn.com/boards/education.aspx ~
c
Alphatec Spine Announces Fourth Quarter and Full Year 2012 Revenue and Financial Results
Alphatec Holdings, Inc. (Nasdaq:ATEC), the parent company of Alphatec Spine, Inc., announced today financial results for the fourth quarter and fiscal year ended December 31, 2012.
"On behalf of the entire global Alphatec Spine team, I am pleased to report a strong fourth quarter and a great finish to 2012," said Les Cross, Chairman and Chief Executive Officer of Alphatec Spine. "Since I became CEO last year, we have made significant changes to the organization through investments in leadership talent, operational process improvements, product licenses and an acquisition, which collectively contributed to our positive fourth quarter result and should provide a strong foundation going forward.
"It was a challenging year for the entire organization to undertake Alphatec's transformation, but with much of the heavy lifting now behind us our focus is on performance execution in 2013. The Company's employees have fully embraced a culture of continuous improvement to strengthen our competitive position.
"I remain excited and confident about the Company's potential to accelerate revenue growth and profitability in U.S. and international markets in 2013, driven by the combination of a strong pipeline of new products, new surgeon conversions as a result of the Phygen acquisition, a more seasoned U.S. commercial organization, and expanded penetration in international markets. We believe that 2013 should be an exciting year at Alphatec Spine."
"As a result of our efforts in 2012, we have strong fourth quarter results to report," Mr. Cross continued, "Alphatec posted global revenue growth of almost 7% compared to the fourth quarter of 2011, or 8% on a constant currency basis. Furthermore, this result was driven by solid execution from both our U.S. and International businesses. This is a substantially improved result over the previous three quarters of 2012.
"Our U.S. business grew 4% in the fourth quarter of 2012, as compared to the fourth quarter of 2011, driven by another great quarter from our Biologics business and from the Company's acquisition of Phygen, which we completed in November of 2012. Biologics and Phygen should represent two important growth engines for Alphatec in 2013.
"Our international business reported growth in the fourth quarter of almost 12% compared to the fourth quarter of 2011, or approximately 16% on a constant currency basis. International revenue levels in the fourth quarter represented a new record for Alphatec, and were driven by growth in Japan and Latin America.
"With respect to our Biologics portfolio and specifically PureGen, our stem cell product, we wanted to provide an update related to the product's status in the marketplace. A formal Request for Designation has been submitted to the FDA to state our case that PureGen should be classified as a tissue-based product and not a biologic product. We have also been engaged in discussions with the FDA to understand the structure of a clinical trial that would be required to obtain regulatory approval for PureGen should it not be classified as a tissue-based product.
"Just recently we became aware that the FDA conducted site inspections at each of the two vendors that are collectively responsible for the procurement, processing, storage and shipment of PureGen. The FDA subsequently issued several Form 483 observations related to PureGen. While the product has been implanted in over 3,500 patients with no adverse event related to the product, we have voluntarily taken the prudent approach to not ship any additional product until the observations have been addressed to the FDA's satisfaction, which we hope will take less than one month.
"While we continue to maintain a collaborative relationship with the FDA regarding the classification of PureGen, given the ongoing uncertainty with the regulatory status of the product and the Form 483 observations, we are expecting only modest contributions from PureGen in our 2013 revenue guidance. The potential impact from the loss of PureGen for the remainder of 2013 is approximately $6 million."
Fourth Quarter 2012 Financial Results
Consolidated net revenues for the fourth quarter of 2012 were $52.7 million, representing growth of approximately 6.5 percent compared to $49.5 million reported for the fourth quarter of 2011, or 7.9 percent on a constant currency basis.
U.S. net revenues for the fourth quarter of 2012 were $34.0 million, representing growth of approximately 4.0 percent, compared to $32.8 million reported for U.S. net revenues in the fourth quarter of 2011. U.S. net revenues were driven by strong sales of the Company's Biologics products and from revenues related to the Company's acquisition of Phygen, which contributed $1.2 million in revenue following the closing in November of 2012.
International net revenues for the fourth quarter of 2012 were $18.7 million, representing growth of 11.6 percent compared to $16.8 million reported for the fourth quarter of 2011, or 15.7 percent on a constant currency basis. International sales growth continues to be driven by strong sales in Japan and Latin America.
Gross profit and gross margin for the fourth quarter of 2012 were $32.1 million and 60.9 percent, respectively, compared to $24.9 million and 50.3 percent, respectively, for the fourth quarter of 2011. The Company's ongoing efforts to improve manufacturing efficiencies continued to yield benefits in the quarter, however, gross profit and gross margin in the fourth quarter of 2012 included charges totaling approximately $1.3 million associated with the write-off certain instrument sets and inventory in connection with the ongoing product rationalization strategy for Scient'x's and its subsidiary's product lines. This negative impact represented 250 basis points of gross margin. Pricing remained relatively stable in the quarter and both product and regional mix were less of an impact than observed in previous quarters. Additionally, gross profit in the fourth quarter of 2012 was reduced by $1.0 million for the amortization of a licensed intangible asset as part of the Cross Medical settlement described below.
As previously reported in January 2012, the Company announced that it had reached a global settlement agreement with Cross Medical Products regarding a license agreement dispute initiated by Cross Medical and a patent infringement suit initiated by the Company. As part of the settlement, the Company agreed to pay Cross Medical $18 million. An initial payment of $5 million dollars was made in January 2012 and the Company will make thirteen payments of $1 million per quarter thereafter, starting August 1, 2012. From an accounting perspective, the Company expensed $9.8 million in the fourth quarter of 2011, which was charged to operating expenses as a legal settlement adjustment. With respect to the remaining $8.2 million, $8.0 million will be recorded as a licensed intangible asset to be amortized over 2012 and the first three quarters of 2013, plus imputed interest of $0.2 million.
Total operating expenses for the fourth quarter of 2012 were $36.1 million, or 68.5 percent of revenues, reflecting a decrease of approximately $5.3 million, compared to the fourth quarter of 2011. The fourth quarter of 2011 included $9.9 million in non-recurring expenses including $9.8 million expensed in connection with the Cross Medical settlement noted above. Operating expenses for the fourth quarter of 2012 included $1.1 million of transaction costs associated with the acquisition of Phygen and certain IPR&D expenses, which are excluded from adjusted EBITDA. Phygen business activities contributed $1.0 million of additional expenses and ongoing litigation expenses associated with current matters accounted for $1.7 million.
GAAP Net loss for the fourth quarter of 2012 was $5.4 million, or ($0.06) per share (basic and diluted), compared to a net loss of $16.0 million, or ($0.18) per share (basic and diluted) for the fourth quarter of 2011.
Adjusted EBITDA in the fourth quarter of 2012 was $5.0 million, or 9.4 percent of revenues, compared to ($1.2) million reported for the fourth quarter of 2011. Adjusted EBITDA represents net income or loss excluding the effects of interest, taxes, depreciation, amortization, stock-based compensation, and other non-recurring items, such as restructuring expenses, IPR&D and transaction-related expenses.
Cash and cash equivalents were $22.2 million at December 31, 2012, compared to $20.7 million reported at December 31, 2011.
2012 Financial Guidance
Financial guidance for 2013 is as follows:
The Company expects revenue for 2013 to be in a range between $204 million and $210 million, or approximately 4 percent to 7 percent growth over 2012. Adjusted EBITDA guidance will be in the range of $24 million to $27 million, or approximately 21 percent to 36 percent growth over 2012, representing approximately 12 percent and 13 percent of revenue. As previously stated, this guidance assumes only modest contributions for PureGen.
Conference Call Information
Alphatec Spine has scheduled a conference call for today, February 28, 2013, at 2:00 p.m. Pacific Time / 5:00 p.m. Eastern Time to discuss its fourth quarter 2012 financial results. The conference call ID is 99196876 and the dial-in number is (877) 556-5251. A live webcast of the conference call will be available online from the investor relations section of the Alphatec Spine website at www.alphatecspine.com. The webcast will be recorded and will remain available on the investor relations section of Alphatec Spine's website for at least 30 days.
About Alphatec Spine
Alphatec Spine, Inc., a wholly owned subsidiary of Alphatec Holdings, Inc., is a medical device company that designs, develops, manufactures and markets products and solutions for the treatment of spinal disorders associated with trauma, congenital deformities, disease and degeneration. The Company's mission is to combine innovative, surgeon-inspired solutions that will help improve outcomes and patient's quality of life, with world-class customer service. To achieve its mission, the Company strives to commercialize new and innovative devices and technologies, including improved minimally invasive surgery (MIS) products and techniques and integrated biologics solutions. The Company markets its products and the products of its affiliates in the U.S. and in over 50 countries internationally via a direct sales force and independent distributors. Additional information can be found at www.alphatecspine.com.
The Alphatec Holdings, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=3520
Non-GAAP Information
Non-GAAP earnings and earnings per share included in this press release are non-GAAP (generally accepted accounting principles) financial measures that represents net income (loss) excluding the effects of amortization and other non-recurring or expense items, such as loss on extinguishment of debt, restructuring expenses and transaction-related expenses. Management does not consider these expenses when it makes certain evaluations of the operations of the Company. Non-GAAP earnings and earnings per share, as defined above, may not be similar to non-GAAP earnings measures used by other companies and is not a measurement under GAAP. Adjusted EBITDA included in this press release is a non-GAAP financial measure that represents net income (loss) excluding the effects of interest, taxes, depreciation, amortization, stock-based compensation expenses, and other non-recurring income or expense items, such as severance expense and transaction-related 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 non-GAAP-based earnings or loss and EBITDA useful for evaluating aspects of the Company's business, its reliance on these measures 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 non-GAAP adjusted EBITDA in conjunction with GAAP earnings and earnings per common share measures. The Company believes that non-GAAP adjusted EBITDA provides investors with an additional tool for evaluating the Company's core performance, which management uses in its own evaluation of continuing operating 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 supplemental metrics since, with reconciliation to GAAP, they 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. 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. Forward looking statements include references to Alphatec Spine's 2013 revenue, adjusted EBITDA, and free cash flow projections; the success of the Company's initiatives from 2012 and 2013 to drive global sales growth, increase margins and increase operating efficiencies, the ability to achieve surgeon conversions in connection with the Phygen acquisition and reductions in the Company's manufacturing costs and operating expenses. The words "believe," "will," "should," "expect," "intend," "estimate" and "anticipate," variations of such words and similar expressions identify forward-looking statements, but their absence does not mean that a statement is not a forward-looking statement. The important factors that could cause actual operating results to differ significantly from those expressed or implied by such forward-looking statements include, but are not limited to; the success of the integration of the Phygen acquisition and realize the benefits of such transaction; the uncertainty of success in developing new products or products currently in Alphatec Spine's pipeline; the uncertainties regarding the ability to successfully license or acquire new products, and the commercial success of such products; uncertainties regarding the regulatory status of the Company's PureGen product, and the ability to keep such product on the market; failure to achieve acceptance of Alphatec Spine's products by the surgeon community, including the products discussed in this press release; failure to successfully implement streamlining activities to create anticipated savings; failure to successfully begin in-house manufacturing of certain products; failure to obtain FDA clearance or approval for new products, including the products discussed in this press release, or unexpected or prolonged delays in the process; Alphatec Spine's ability to develop and expand its U.S. and/or global revenues; continuation of favorable third party payor reimbursement for procedures performed using Alphatec Spine's products; unanticipated expenses or liabilities or other adverse events affecting cash flow or Alphatec Spine's ability to successfully control its costs or achieve profitability; uncertainty of additional funding; Alphatec Spine's ability to compete with other competing products and with emerging new technologies; product liability exposure; failure to meet all financial obligations in the Cross Medical Settlement or its credit agreement; 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 its Annual Report Form 10-K for the year ended December 31, 2011, filed on March 5, 2012 with the Securities and Exchange Commission, as well as other filings on Form 10-Q and periodic filings on Form 8-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.
ALPHATEC HOLDINGS, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands - unaudited)
December 31,
2012 December 31,
2011
ASSETS
Current assets:
Cash and cash equivalents $ 22,241 $ 20,666
Accounts receivable, net 41,012 41,711
Inventories, net 49,855 45,916
Prepaid expenses and other current assets 5,953 6,888
Deferred income tax assets 2,991 1,248
Total current assets 122,052 116,429
Property and equipment, net 30,403 31,476
Goodwill 180,838 168,609
Intangibles, net 46,856 47,144
Other assets 1,978 3,034
Total assets $ 382,127 $ 366,692
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable $ 15,237 $ 17,390
Accrued expenses 38,490 32,583
Deferred revenue 1,361 2,768
Current portion of long-term debt 1,700 4,396
Total current liabilities 56,788 57,137
Total long term liabilities 55,920 40,624
Redeemable preferred stock 23,603 23,603
Stockholders' equity 245,816 245,328
Total liabilities and stockholders' equity $ 382,127 $ 366,692
ALPHATEC HOLDINGS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share amounts - unaudited)
Three Months Ended
December 31, Year Ended
December 31,
2012 2011 2012 2011
Revenues $ 52,743 $ 49,510 $ 196,278 $ 197,711
Cost of revenues 19,988 24,209 70,761 79,168
Amortization of acquired intangible assets 635 390 1,749 1,613
Total cost of revenues 20,623 24,599 72,510 80,781
Gross profit 32,120 24,911 123,768 116,930
Operating expenses:
Research and development 3,883 3,235 14,886 16,888
In-process research and development 341 -- 341 --
Sales and marketing 19,335 18,124 75,177 75,189
General and administrative 11,226 9,660 39,939 36,367
Amortization of acquired intangible assets 605 523 2,180 2,152
Transaction related costs 718 -- 1,082 --
Restructuring expenses -- 57 -- 1,050
Litigation settlement -- 9,800 -- 9,800
Total operating expenses 36,108 41,399 133,605 141,446
Operating loss (3,988) (16,488) (9,837) (24,516)
Interest and other income (expense), net (1,767) (941) (6,781) (2,172)
Loss from continuing operations before taxes (5,755) (17,429) (16,618) (26,688)
Income tax benefit (400) (1,463) (1,159) (4,507)
Net loss $ (5,355) $ (15,966) $ (15,459) $ (22,181)
Net loss per common share:
Basic and diluted net loss per share $ (0.06) $ (0.18) $ (0.17) $ (0.25)
Weighted-average shares - basic and diluted 93,209 88,918 90,218 88,798
ALPHATEC HOLDINGS, INC.
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
(in thousands, except per share amounts - unaudited)
Three Months Ended
December 31, Year Ended
December 31,
2012 2011 2012 2011
Operating loss, as reported $ (3,988) $ (16,488) $ (9,837) $ (24,516)
Add back:
Depreciation 3,647 3,684 14,184 14,789
Amortization of intangible assets 1,481 340 5,679 1,322
Amortization of acquired intangible assets 1,241 913 3,929 3,765
Total EBITDA 2,381 (11,551) 13,955 (4,640)
Add back significant items:
Stock-based compensation 1,330 497 3,540 2,425
In-process research and development 341 -- 341 --
Acquisition-related inventory step-up 191 -- 191 751
Transaction related expenses 718 -- 1,082 --
Restructuring and other expenses -- 57 794 1,050
Litigation settlement -- 9,800 -- 9,800
EBITDA, as adjusted for significant items $ 4,961 $ (1,197) $ 19,903 $ 9,386
Net loss, as reported $ (5,355) $ (15,966) $ (15,459) $ (22,181)
Add back:
In-process research and development 341 -- 341 --
Acquisition-related inventory step-up 191 -- 191 751
Amortization of acquired intangible assets 1,241 913 3,929 3,765
Amortization of intangible assets 1,481 340 5,679 1,322
Loss on extinguishment of debt -- -- 2,910 --
Transaction related expenses 718 -- 1,082 --
Restructuring and other expenses -- 57 794 1,050
Litigation settlement -- 9,800 -- 9,800
Net loss, as adjusted for significant items $ (1,383) $ (4,856) $ (533) $ (5,493)
Net loss per common share - basic and diluted $ (0.06) $ (0.18) $ (0.17) $ (0.25)
Add back:
In-process research and development 0.00 -- 0.00 --
Acquisition-related inventory step-up 0.00 -- 0.00 0.01
Amortization of acquired intangible assets 0.01 0.01 0.04 0.04
Amortization of intangible assets 0.02 0.00 0.06 0.01
Loss on extinguishment of debt -- -- 0.03 --
Transaction related expenses 0.01 -- 0.01 --
Restructuring and other expenses -- 0.00 0.01 0.01
Litigation settlement -- 0.11 -- 0.11
Net loss per common share - basic and diluted, as adjusted for significant items $ (0.01) $ (0.05) $ (0.01) $ (0.06)
Weighted-average shares - basic and diluted 93,209 88,918 90,218 88,798
ALPHATEC HOLDINGS, INC.
RECONCILIATION OF GEOGRAPHIC SEGMENT REVENUES AND GROSS PROFIT
(in thousands, except percentages - unaudited)
Three Months Ended Impact from
December 31, Foreign
2012 2011 % Change Currency
Revenues by geographic segment
U.S. $ 34,046 $ 32,752 4.0% 0.0%
International 18,697 16,758 11.6% -3.7%
Total revenues $ 52,743 $ 49,510 6.5% -1.3%
Gross profit by geographic segment
U.S. $ 22,575 $ 18,728
International 9,545 6,183
Total gross profit $ 32,120 $ 24,911
Gross profit margin by geographic segment
U.S. 66.3% 57.2%
International 51.1% 36.9%
Total gross profit margin 60.9% 50.3%
Year Ended Impact from
December 31, Foreign
2012 2011 % Change Currency
Revenues by geographic segment
U.S. $ 130,476 $ 133,824 -2.5% 0.0%
International 65,802 63,887 3.0% -3.7%
Total revenues $ 196,278 $ 197,711 -0.7% -1.2%
Gross profit by geographic segment
U.S. $ 89,360 $ 87,085
International 34,408 29,845
Total gross profit $ 123,768 $ 116,930
Gross profit margin by geographic segment
U.S. 68.5% 65.1%
International 52.3% 46.7%
Total gross profit margin 63.1% 59.1%
Footnotes:
1) The impact from foreign currency represents the percentage change in 2012 revenues due to the change in foreign exchange rates for the periods presented.
CONTACT: Investor/Media Contact:
Mark Francois
Senior Director, Investor Relations
Alphatec Spine, Inc.
(760) 494-6610
mfrancois@AlphatecSpine.com
This one is way off radar to investors! Very attractive price here!
Alphatec Spine Receives U.S. FDA 510(K) Market Clearance for Two New Products and Receives Japanese Shonin Approval to Begin Ma
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, today provided an update related to its product commercialization efforts.
The Company announced that it has recently received 510(k) market clearance from the U.S. Food and Drug Administration (FDA) for two new products in the Company's new product pipeline:
An anchored, anterior cervical interbody device, called Pegasus™, which offers single-step deployment of the anchoring blades without the need for impaction; and,
A new MIS system, called ILLICO® FS Facet Fixation System, which enables spine surgeons to immobilize and stabilize spinal segments without the need for pedicle screw and rod constructs.
Additionally, the Company said that it has received Shonin approval in Japan from the Pharmaceuticals and Medical Devices Agency to market and sell three lines of the Company's Novel PEEK Spinal Spacers, including the Novel SD, the Novel LCC and the Novel TL, which are used in posterior spine fusion procedures. PEEK, or polyetheretherketone, is a radiolucent material containing radiographic markers, which enhance interbody visualization and alignment during the fusion process.
"I am pleased to announce these important new developments related to our new product commercialization strategy at Alphatec Spine," said Les Cross, Chairman and CEO of Alphatec Spine. Our initiatives to strengthen the top-line growth of the Company through robust internal product development, acquisitions and license arrangements, and continued global expansion are gaining momentum. Our new Pegasus anchored cervical interbody device and ILLICO FS system represent key additions to our cervical and MIS offerings in the U.S., respectively.
"In Japan, product registration has been a long and complex process and we are pleased to have achieved that significant milestone for our Novel PEEK Spinal Spacer Systems, complementing the strong sales presence we have already established there."
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 products 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, stenosis 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 products in over 50 international markets through its affiliate, Scient'x S.A.S., via a direct sales force in France, Italy and the United Kingdom and via independent distributors in the rest of Europe, the Middle East and Africa. In Latin America, the Company conducts its business through its subsidiary, Cibramed Produtos Medicos. In Japan, the Company markets its products through its subsidiary, Alphatec Pacific, Inc. In the rest of Asia and Australia, the Company sells its and Scient'x's products through its and Scient'x's distributors.
The Alphatec Holdings, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=3520
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. 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. Forward-looking statements include references to the Company's ability to develop and commercialize new products targeted for U.S. and international markets. The words "believe," "will," "should," "expect," "intend," "estimate" and "anticipate," variations of such words and similar expressions identify forward-looking statements, but their absence does not mean that a statement is not a forward-looking statement. The important factors that could cause actual operating results to differ significantly from those expressed or implied by such forward-looking statements include, but are not limited to; the uncertainty of success in developing new products or products currently in Alphatec Spine's pipeline; the uncertainty of success in acquiring new products or technologies; the successful launch of the Company's new products and the products in its development pipeline, including the products discussed in this press release; failure to achieve acceptance of Alphatec Spine's products by the surgeon community, including the products discussed in this press release; failure to successfully implement streamlining activities to create operating cost savings; failure to successfully begin in-house manufacturing of certain products; failure to obtain or maintain regulatory clearance or approval for products, including the products discussed in this press release, or unexpected or prolonged delays in the process; Alphatec Spine's ability to develop and expand its U.S. and/or global revenues; continuation of favorable third party payor reimbursement for procedures performed using Alphatec Spine's products; unanticipated expenses or liabilities or other adverse events affecting cash flow or Alphatec Spine's ability to successfully control its costs or achieve profitability; uncertainty of additional funding; Alphatec Spine's ability to compete with other competing products and with emerging new technologies; product liability exposure; failure to meet all financial obligations in the Cross Medical Settlement; 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 its Annual Report Form 10-K, as well as other filings on Form 10-Q and periodic filings on Form 8-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.
CONTACT: Investor/Media Contact:
Mark Francois
Senior Director, Investor Relations
Alphatec Spine, Inc.
(760) 494-6610
mfrancois@alphatecspine.com
~ Thursday! $ATEC ~ Earnings posted, pending or coming soon! In Charts and Links Below!
~ $ATEC ~ Earnings expected on Thursday *
Want more like this? Search Keyword: MACMONEY >>> http://tinyurl.com/MACMONEY <<<
One or more of many earnings sites has alerted this security has or will be posting earnings on or around the day of this message.
http://stockcharts.com/h-sc/ui?s=ATEC&p=D&b=3&g=0&id=p88783918276&a=237480049
http://stockcharts.com/h-sc/ui?s=ATEC&p=W&b=3&g=0&id=p54550695994
~ Google Finance: http://www.google.com/finance?q=ATEC
~ Google Fin Options: hhttp://www.google.com/finance/option_chain?q=ATEC#
~ Yahoo! Finance ~ Stats: http://finance.yahoo.com/q/ks?s=ATEC+Key+Statistics
~ Yahoo! Finance ~ Profile: http://finance.yahoo.com/q/pr?s=ATEC
Finviz: http://finviz.com/quote.ashx?t=ATEC
~ BusyStock: http://busystock.com/i.php?s=ATEC&v=2
<<<<<< http://www.earningswhispers.com/stocks.asp?symbol=ATEC >>>>>>
http://investorshub.advfn.com/boards/post_prvt.aspx?user=251916
*If the earnings date is in error please ignore error. I do my best.
Alphatec Spine to Present at the Canaccord Genuity Musculoskeletal Conference
PrintAlert
Alphatec Holdings, Inc. (MM) (NASDAQ:ATEC)
Intraday Stock Chart
Today : Tuesday 31 January 2012
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, today announced it will present at the Canaccord Genuity Musculoskeletal Conference on Tuesday, February 7, 2012 at 2:20 p.m. Pacific Time at the Parc 55 Wyndham Hotel, San Francisco, California.
During such presentation, Michael O'Neill, Alphatec Spine's Chief Financial Officer, will provide a corporate overview of the Company. A live audio webcast of the presentation at the Canaccord Genuity Musculoskeletal Conference will be accessible through the Company's investor relations website at www.alphatecspine.com. An archived edition of the presentation will be available later that day and will be available for at least 30 days afterwards.
Alphatec Spine and Cross Medical Products Settle License Agreement Dispute
PrintAlert
Alphatec Holdings, Inc. (MM) (NASDAQ:ATEC)
Intraday Stock Chart
Today : Friday 6 January 2012
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, today announced that it has reached a global settlement agreement of two pending lawsuits. In the first lawsuit, Cross Medical Products, Inc. (a subsidiary of Biomet, Inc.) claimed that Alphatec Spine had breached the April 23, 2003 license agreement with Cross Medical by failing to make certain royalty payments. In the second lawsuit, Alphatec Spine claimed that a subsidiary of Biomet, Inc. EBI, LLC, infringed a patent owned by Alphatec Spine.
Under the terms of the settlement, all parties obtained a release of all claims that were the subject of the disputes. No party has admitted liability in connection with the settlement. The settlement also includes an amendment to the April 23, 2003 License Agreement.
"While we continue to believe in the strength of our position in this dispute, we felt it served the best interests of our stockholders to proactively settle the matter to eliminate ongoing legal costs resulting from the litigation and remove any uncertainty that is inherent in the litigation process," said Dirk Kuyper, President and Chief Executive Officer of Alphatec Spine. "This settlement provides certainty and will allow us to more fully focus our time and resources on executing our 2012 business plan."
As part of the settlement, Alphatec Spine will pay Cross Medical an initial payment of $5 million dollars. In addition to the initial payment, Alphatec Spine shall make thirteen payments of $1 million, with the payments made quarterly, and the first payment being due on August 1, 2012, and each subsequent payment due three months thereafter until the final payment, which is due August 1, 2015, is made. The total cash impact of $18 million will be dispersed in the following amounts: $7 million in 2012, $4 million in 2013, $4 million in 2014 and $3 million in 2015. In addition, pursuant to the settlement, the parties have exchanged covenants not to sue for patent infringement with respect to products that each respective company had on the market as of December 30, 2011.
Conference Call
Alphatec Spine will host a conference call on January 6, 2012 at 6:00 a.m. PT / 9:00 a.m. ET to discuss the settlement. To participate in the conference call, please visit the investor relations section of the Alphatec Spine website at www.alphatecspine.com. The dial-in numbers are (877) 556-5251 for domestic callers and (720) 545-0036 for international. A live webcast of the conference call will be available online from the investor relations section of the Alphatec Spine website at www.alphatecspine.com. The webcast will be recorded and will remain available on the investor relations section of Alphatec Spine's website for at least 30 days.
Alphatec Spine to Present at the 23RD Annual Piper Jaffray Health Care Conference
PrintAlert
Alphatec Holdings, Inc. (MM) (NASDAQ:ATEC)
Intraday Stock Chart
Today : Tuesday 22 November 2011
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, today announced it will present at the 23rd Annual Piper Jaffray Health Care Conference on Tuesday, November 29, 2011 at 12:00 p.m. ET at The New York Palace Hotel in New York City, New York.
During such presentation, Michael O'Neill, Alphatec Spine's Chief Financial Officer, will provide an overview of the Company's activities. A live audio webcast of the presentation at the Annual Piper Jaffray Health Care Conference will be accessible through the Company's investor relations website at www.alphatecspine.com. An archived edition of the presentation will be available later that day and will be available for at least 30 days afterwards.
Alphatec Spine Announces New Products at Upcoming North American Spine Society (NASS) Meeting in Chicago
print
Alphatec Holdings, Inc. (MM) (NASDAQ:ATEC)
Intraday Stock Chart
Today : Tuesday 1 November 2011
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, announced today that it will be introducing three new products at the upcoming North American Spine Society (NASS) meeting in Chicago, IL, which will be held from November 2nd to 4th, 2011
The Company is pleased to make the following new product introductions, and to announce the release of Alphatec Solus to its international beta sites:
-- The Trestle LuxeTM Anterior Cervical Plating System is the Company's next-generation anterior cervical fixation system. It combines a proprietary zero-step locking mechanism, low-profile flush-fit design, large graft window, and a comprehensive offering of implants and instrumentation to provide the surgeon with confidence in the system's performance and comfort to their patients.
-- The AvalonTM Occipito-Cervico Plating System, which is used in connection with the Solanas® Posterior Cervico-Thoracic Fixation System, provides the surgeon with an innovative and comprehensive posterior solution for occipito-cervico-thoracic fixation. The unique buttress design of the Avalon plate allows the surgeon to ideally place and secure bone graft in the optimal midline location to help promote fusion and improve graft stability without adding profile to the overall surgical construct.
-- The Epicage® Minimally Invasive Posterior Interbody Spacer can be used for either TLIF or PLIF procedures. In its resting state the cage has a crescent shape; but due to its unique geometry and design, it can be flexed into a straight and narrow shape. The cage can be delivered in a minimally invasive, low- profile manner, which upon delivery reshapes to cover a large surface area. Additionally, it is delivered through a portal that is designed to reduce the potential of nerve injury to the patient, and to ensure that the cage is delivered to a precise location upon each implementation.
-- The Alphatec SolusTM Anterior Lumbar Interbody Fusion (ALIF) System provides a biomechanically proven, industry leading design in treating spinal column stability for internal fixation ALIF devices. Four points of fixation combined with what we believe is the largest competitively available graft volume support rapid and robust arthodesis potential. Deployment of the internal fixation blades is performed in one step, and is designed to decrease incision size, operative time and blood loss.
"Alphatec Spine is extremely proud to have designed, manufactured and introduced each of these products to the US and international markets", said Dirk Kuyper, President and CEO. "These products are on the cutting edge of spinal instrumentation and implants. Each incorporates our philosophy of being focused on the aging spine, being minimally invasive in their approach and compatible with Biologics solutions. Each of these systems is in a significantly sized market segment, and as next-generation designs, each has the potential to impact our future positively".
Alphatec Spine to Hold 3Q 2011 Financial Results Investor Call
print
Alphatec Holdings, Inc. (MM) (NASDAQ:ATEC)
Intraday Stock Chart
Today : Thursday 13 October 2011
Alphatec Holdings, Inc. (Nasdaq:ATEC), the parent company of Alphatec Spine, Inc., a leading medical technology company involved in the design, development, manufacturing and marketing of products for the surgical treatment of spine disorders, with a focus on treating conditions affecting the aging spine, announced today that it will hold an investor call on Tuesday, November 1, 2011 to discuss the Company's third quarter 2011 financial results.
Alphatec Spine will host this webcast and conference call at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) on Tuesday, November 1, 2011. The dial-in numbers are (877) 556-5251 for domestic callers and (720) 545-0036 for international callers. A live webcast of the conference call will be available online from the investor relations page of the Company's corporate website at www.alphatecspine.com. Participating in the call will be Dirk Kuyper, President and Chief Executive Officer, Michael O'Neill, Chief Financial Officer, and Ebun S. Garner, Esq., General Counsel.
After the live webcast the call will remain available on Alphatec Spine's website for at least 30 days following the presentation.
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, stenosis 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 products in over 50 international markets through its subsidiary, Scient'x S.A., via a direct sales force in France, Italy and the United Kingdom and via independent distributors in the rest of Europe, the Middle East and Africa, South America and Latin America. In Asia and Australia, the Company markets its products through its subsidiary, Alphatec Pacific, Inc., and through Scient'x's distributors in China, Korea and Australia.
The Alphatec Holdings, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=3520
CONTACT: Michael O'Neill
Chief Financial Officer
Alphatec Spine, Inc.
(760) 494-6746
investorrelations@alphatecspine.com
Westwicke Partners
Lynn C. Pieper
(415) 202-5678
lynn.pieper@westwicke.com
Alphatec Spine Announces Successful Resolution of FDA Warning Letter
print
Alphatec Holdings, Inc. (MM) (NASDAQ:ATEC)
Intraday Stock Chart
Today : Wednesday 5 October 2011
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, announced today that it has resolved a Warning Letter that it had previously received from the U.S. Food and Drug Administration for the Company's Carlsbad, CA, facility.
The FDA issued the Warning Letter on June 21, 2010 in connection with deficiencies in the response letter sent by the Company to the FDA in connection with a FDA inspection that occurred in February 2010.
Subsequent to a follow-up audit of the Company's facility, the FDA issued a close-out letter dated September 28, 2011. In this letter, the FDA stated that the Company has resolved all the deficiencies contained in the Warning Letter.
"The successful resolution of the Warning Letter demonstrates our firm commitment to maintaining a robust quality system throughout our organization," said Dirk Kuyper the Company's President and CEO.
Alphatec Spine to Present at the Stifel Nicolaus Healthcare Conference 2011
print
Alphatec Holdings, Inc. (MM) (NASDAQ:ATEC)
Intraday Stock Chart
Today : Monday 29 August 2011
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, today announced it will present at the Stifel Nicolaus Healthcare Conference 2011 on Wednesday, September 7, 2011 at 11:30 a.m. ET at The Four Seasons Hotel in Boston, Massachusetts.
During such presentation, Michael O'Neill, Alphatec Spine's Chief Financial Officer, will provide an overview of the Company's activities. A live audio webcast of the presentation at the Stifel Nicolaus Healthcare Conference 2011 will be accessible through the Company's investor relations website at www.alphatecspine.com. An archived edition of the presentation will be available later that day and will be available for at least 30 days afterwards.
Undervalued here IMO. Could see sine good gains
Alphatec Spine Announces Second Quarter 2011 Revenue and Financial Results
print
Alphatec Holdings, Inc. (MM) (NASDAQ:ATEC)
Intraday Stock Chart
Today : Thursday 4 August 2011
Revenue of $50.9 million – 12.0% growth over Q2 2010; 7.6% growth on a constant currency basis
US revenue of $34.5 million; 17.8% growth over Q2 2010
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, announced today financial results for the fiscal quarter ended June 30, 2011.
Second Quarter 2011 Performance Highlights
Achieved revenue of $50.9 million in the second quarter 2011, which represented growth of 12.0% versus the second quarter 2010, and 2.2% sequential revenue growth over the first quarter 2011.
US revenue of $34.5 million reported for the second quarter 2011 represented 17.8% growth over second quarter 2010, driven by strength of our core products and increase in purchase orders from hospitals for Alphatec Spine products.
International revenue of $16.3 million reported in the second quarter 2011 up 1.3% versus the $16.1 million reported for the second quarter 2010.
Cash flow was break-even in the second quarter 2011, reflecting strong revenue growth, working capital management and operating expense control.
Received PMDA regulatory approval of Illico® in Japan, a market that has strong demand for minimally invasive surgical approaches.
We believe Alphatec Spine now holds the fourth largest market share position in Japan.
Continued Aging Spine market penetration of OsseoFix® and OsseoScrew® in Europe.
OsseoFix revenue growth was 32% in the second quarter, with over 2,600 cases having been completed since product launch.
OsseoScrew continues to gain momentum and is driving pull-through of other key Alphatec Spine products.
– Resubmitted the 510k application for OsseoScrew to the FDA in the second quarter, as planned.
Continued uptake and demand for PureGenTM, the Company's Osteoprogenitor Cell Allograft, with over 500 cases completed since product launch, with no reported adverse events, complications or complaints.
Implemented a 10% US workforce reduction in order to align US staffing levels with margin and profit goals.
"We are pleased with our 12% global revenue growth, which was driven in large part by our nearly 18% US revenue growth in the second quarter. Each of those growth rates significantly outpaces our competitors, globally and in the US, respectively. The strength of our broad product portfolio continues to convert business, most notably in the US hospital market. Internationally, OsseoFix and OsseoScrew continue to see strong market adoption and product pull-through, and we are particularly pleased with the strength of our results in Japan," stated Dirk Kuyper, Alphatec Spine's President and Chief Executive Officer.
Mr. Kuyper continued, "While we are pleased to have reported record revenue results and break-even cash flow in the quarter, we have turned our focus to our US gross margin, which we expect to meaningfully improve throughout the remainder of 2011 and 2012. We have initiatives underway that aim to reduce costs, better utilize our in-house manufacturing capacity and improve manufacturing efficiencies. We continue to be laser-focused on driving our differentiated technologies in Aging Spine, MIS and Biologics to gain market share globally."
Second Quarter 2011 Financial Results
Consolidated revenues for the second quarter 2011 were $50.9 million, an increase of 12.0% from the $45.4 million reported for the second quarter 2010. US revenues for the second quarter 2011 were $34.5 million, an increase of 17.8% from the $29.3 million reported for the second quarter 2010. International revenues were $16.3 million for the second quarter 2011, up 1.3% versus the $16.1 million reported in the second quarter 2010.
Gross profit for the second quarter 2011 was $29.9 million, an increase of $1.1 million over the second quarter 2010 gross profit of $28.8 million. Second quarter 2011 gross margin of 58.7% was below the second quarter 2010 gross margin of 63.5%. Second quarter 2011 cost of goods sold includes $2.7 million in inventory write-downs. Excluding these write-downs, gross profit was $32.6 million and gross margin was 64.0% for the second quarter 2011. International gross margin increased modestly to 50.1% versus the 49.0% international gross margin reported in second quarter 2010. Total operating expenses for the second quarter 2011 were $33.2 million, an increase of $1.3 million compared to the second quarter 2010 total operating expenses of $31.9 million.
Adjusted EBITDA was $2.7 million in the second quarter 2011, a decrease of $1.1 million compared to the $3.8 million reported for the second quarter 2010. The decline in Adjusted EBITDA is primarily attributable to the negative gross margin contribution from the $2.7 million in inventory write-downs taken in the quarter. Excluding these write-downs, Adjusted EBITDA was $5.4 million in second quarter 2011.
Net loss for the second quarter 2011 was $3.0 million, or ($0.03) per share (basic and diluted), compared with a net loss of $3.0 million, or ($0.04) per share (basic and diluted) for the second quarter 2010.
Non-GAAP EPS for the second quarter 2011 was ($0.02) per share (basic and diluted), compared to $0.00 per share (basic and diluted) reported for the second quarter 2010. Non-GAAP net earnings or (loss) excludes in-process research and development expenses, acquisition-related inventory step-up, amortization of intangible assets and transaction and restructuring expenses.
Cash and cash equivalents were $21.8 million at June 30, 2011 which is an increase of $0.3 million as compared to the $21.5 million cash position as of March 31, 2011.
2011 Financial Guidance
The Company is updating its full year 2011 financial guidance with revenues of $195.0 million to $205.0 million, and $22.0 million to $25.0 million in annual Adjusted EBITDA; approximately 11% to 12% of revenue.
Conference Call
Alphatec Spine will host a conference call today at 2:00 p.m. PT / 5:00 p.m. ET to discuss the results. To participate in the conference call, please visit the investor relations section of the Alphatec Spine website at www.alphatecspine.com. The dial-in numbers are (877) 556-5251 for domestic callers and (720) 545-0036 for international. A live webcast of the conference call will be available online from the investor relations section of the Alphatec Spine website at www.alphatecspine.com. The webcast will be recorded and will remain available on the investor relations section of Alphatec Spine's website for at least 30 days.
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, stenosis and other aging spine deformities, improved minimally invasive products and techniques and integrated biologics solutions. In addition to its US operations, the Company also markets its products in over 50 international markets through its subsidiary, Scient'x S.A.S., via a direct sales force in France, Italy and the United Kingdom and via independent distributors in the rest of Europe, the Middle East and Africa, South America and Latin America. In Asia, the Company markets its products through its subsidiary, Alphatec Pacific, Inc. and through distributors in the rest of the Asia Pacific region.
The Alphatec Holdings, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=3520
Non-GAAP Information
Non-GAAP earnings included in this press release is a non-GAAP (generally accepted accounting principles) financial measure that represents net income (loss) excluding the effects of in-process research and development expenses, transaction-related expenses and litigation settlement expenses. Management does not consider these expenses when it makes certain evaluations of the operations of the Company. Non-GAAP earnings, as defined above, may not be similar to non-GAAP earnings measures used by other companies and is not a measurement under GAAP.
Adjusted EBITDA included in this press release is a non-GAAP financial measure that represents net income (loss) excluding the effects of interest, taxes, depreciation, amortization, stock-based compensation expenses, and other non-recurring income or expense items, such as in-process research and development expense and transaction-related 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 non-GAAP-based earnings or loss and EBITDA useful for evaluating aspects of the Company's business, its reliance on these measures 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 non-GAAP adjusted EBITDA in conjunction with GAAP earnings and earnings per common share measures. The Company believes that non-GAAP adjusted EBITDA provides investors with an additional tool for evaluating the Company's core performance, which management uses in its own evaluation of continuing operating 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 supplemental metrics since, with reconciliation to GAAP, they 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. 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 2011 revenue, adjusted EBITDA, free cash flow and earnings projections, the growth rate of the spine market related to aging and elderly patients, uncertainty of success in developing new products or products currently in Alphatec Spine's pipeline, the successful global launch of the Company's new products and the products in its development pipeline including OsseoFix, OsseoScrew, Illico, and PureGen, failure to achieve acceptance of Alphatec Spine's products by the surgeon community, failure to obtain FDA clearance or approval for new products, or unexpected or prolonged delays in the process, Alphatec Spine's ability to develop and expand its US and/or global revenues, continuation of favorable third party payor reimbursement for procedures performed using Alphatec Spine's products, unanticipated expenses or liabilities or other adverse events affecting cash flow or Alphatec Spine's ability to successfully control its costs or achieve profitability, uncertainty of additional funding, Alphatec Spine's ability to compete with other competing products and with emerging new technologies, 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.
ALPHATEC HOLDINGS, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands - unaudited)
June 30, December 31,
2011 2010
ASSETS
Current assets:
Cash and cash equivalents $ 21,761 $ 23,168
Accounts receivable, net 41,711 39,777
Inventories, net 47,974 51,635
Prepaid expenses and other current assets 8,831 6,652
Deferred income tax assets 1,588 1,592
Total current assets 121,865 122,824
Property and equipment, net 34,691 38,440
Goodwill 178,905 170,194
Intangibles, net 44,821 43,148
Other assets 4,164 2,410
Total assets $ 384,446 $ 377,016
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable $ 14,919 $ 15,957
Accrued expenses 23,356 22,530
Deferred revenue 3,291 3,396
Current portion of long-term debt 963 1,708
Total current liabilities 42,529 43,591
Total long term liabilities 42,990 43,388
Redeemable preferred stock 23,603 23,603
Stockholders' equity 275,324 266,434
Total liabilities and stockholders' equity $ 384,446 $ 377,016
ALPHATEC HOLDINGS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share amounts - unaudited)
Three Months Ended Six Months Ended
June 30, June 30,
2011 2010 2011 2010
Revenues $ 50,862 $ 45,424 $ 100,582 $ 80,746
Cost of revenues 20,585 16,222 37,958 27,970
Amortization of acquired intangible assets 416 369 812 369
Total cost of revenues 21,001 16,591 38,770 28,339
Gross profit 29,861 28,833 61,812 52,407
Operating expenses:
Research and development 4,382 4,909 9,795 8,596
In-process research and development -- 92 -- 542
Sales and marketing 19,291 17,115 37,920 30,519
General and administrative 8,938 8,007 18,080 13,567
Amortization of acquired intangible assets 554 469 1,084 469
Transaction related expenses -- 493 -- 3,645
Restructuring expenses -- 805 599 1,687
Total operating expenses 33,165 31,890 67,478 59,025
Operating loss (3,304) (3,057) (5,666) (6,618)
Interest and other income (expense), net (502) (309) (756) (1,278)
Loss from continuing operations before taxes (3,806) (3,366) (6,422) (7,896)
Income tax benefit (762) (265) (1,511) (129)
Loss from continuing operations (3,044) (3,101) (4,911) (7,767)
Loss from discontinued operations, net of tax -- 122 -- 78
Net loss $ (3,044) $ (2,979) $ (4,911) $ (7,689)
Net loss per common share:
Basic and diluted net loss from continuing operations $ (0.03) $ (0.04) $ (0.06) $ (0.11)
Basic and diluted net income from discontinued operations -- 0.00 -- 0.00
Basic and diluted net loss per share $ (0.03) $ (0.04) $ (0.06) $ (0.11)
Weighted-average shares - basic and diluted 88,740 84,675 88,720 69,500
ALPHATEC HOLDINGS, INC.
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
(in thousands, except per share amounts - unaudited)
Three Months Ended Six Months Ended
June 30, June 30,
2011 2010 2011 2010
Operating loss, as reported $ (3,304) $ (3,057) $ (5,666) $ (6,618)
Add back:
Depreciation 3,662 3,234 7,434 5,876
Amortization of intangible assets 347 203 652 1,123
Amortization of acquired intangible assets 970 838 1,896 838
Total EBITDA 1,675 1,218 4,316 1,219
Add back significant items:
Stock-based compensation 734 772 1,448 1,753
In-process research and development -- 92 -- 542
Acquisition-related inventory step-up 321 413 751 413
Transaction related expenses -- 493 -- 3,645
Restructuring expenses -- 805 599 1,687
EBITDA, as adjusted for significant items $ 2,730 $ 3,793 $ 7,114 $ 9,259
Net loss, as reported $ (3,044) $ (2,979) $ (4,911) $ (7,689)
Add back:
In-process research and development -- 92 -- 542
Acquisition-related inventory step-up 321 413 751 413
Amortization of acquired intangible assets 970 838 1,896 838
Transaction related expenses -- 493 -- 3,645
Restructuring expenses -- 805 599 1,687
Net loss, as adjusted for significant items $ (1,753) $ (338) $ (1,665) $ (564)
Net loss per common share - basic and diluted $ (0.03) $ (0.04) $ (0.06) $ (0.11)
Add back:
In-process research and development -- 0.00 -- 0.01
Acquisition-related inventory step-up 0.00 0.01 0.01 0.01
Amortization of acquired intangible assets 0.01 0.01 0.02 0.01
Transaction related expenses -- 0.01 -- 0.05
Restructuring expenses -- 0.01 0.01 0.02
Net loss per common share - basic and
diluted, as adjusted for significant items $ (0.02) $ 0.00 $ (0.02) $ (0.01)
ALPHATEC HOLDINGS, INC.
RECONCILIATION OF GEOGRAPHIC SEGMENT REVENUES AND GROSS PROFIT
(in thousands, except percentages - unaudited)
Three Months Ended Impact from
June 30, Foreign
2011 2010 % Change Currency
Revenues by geographic segment
U.S. $ 34,539 $ 29,317 17.8% 0.0%
International 16,323 16,107 1.3% 13.7%
Total revenues $ 50,862 $ 45,424 12.0% 4.0%
Gross profit by geographic segment
U.S. $ 21,688 $ 20,933
International 8,173 7,900
Total gross profit $ 29,861 $ 28,833
Gross profit margin by geographic segment
U.S. 62.8% 71.4%
International 50.1% 49.0%
Total gross profit margin 58.7% 63.5%
Six Months Ended Impact from
June 30, Foreign
2011 2010 % Change Currency
Revenues by geographic segment
U.S. $ 68,399 $ 57,753 18.4% 0.0%
International 32,183 22,993 40.0% 10.9%
Total revenues $ 100,582 $ 80,746 24.6% 3.2%
Gross profit by geographic segment
U.S. $ 46,109 $ 40,799
International 15,703 11,608
Total gross profit $ 61,812 $ 52,407
Gross profit margin by geographic segment
U.S. 67.4% 70.6%
International 48.8% 50.5%
Total gross profit margin 61.5% 64.9%
Footnotes:
1) The impact from foreign currency represents the percentage change in 2011 revenues due to the change in foreign
exchange rates for the periods presented.
ALPHATEC HOLDINGS, INC.
PRO FORMA REVENUES BY GEOGRAPHIC SEGMENT
(in thousands, except percentages - unaudited)
Three Months Ended Impact from
June 30, Foreign
2011 2010 % Change Currency
Pro Forma Revenues by geographic segment
U.S. $ 34,539 $ 29,317 17.8% 0.0%
International 16,323 16,107 1.3% 13.7%
Total revenues $ 50,862 $ 45,424 12.0% 4.0%
Six Months Ended Impact from
June 30, Foreign
2011 2010 % Change Currency
Pro Forma Revenues by geographic segment
U.S. $ 68,399 $ 60,728 12.6% 0.0%
International 32,183 31,353 2.6% 9.2%
Total revenues $ 100,582 $ 92,081 9.2% 2.8%
Footnotes:
1) Pro Forma revenues for the periods presented include the results of Scient'x as if the Scient'x acquisition had occurred on
January 1, 2010.
2) The impact from foreign currency represents the percentage change in 2011 revenues due to the change in foreign
exchange rates for the periods presented.
Alphatec Spine to Present at the 2011 Canaccord Genuity Growth Conference
Alphatec Holdings, Inc. (MM) (NASDAQ:ATEC)
Intraday Stock Chart
Today : Monday 1 August 2011
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, today announced it will present at the 2011 Canaccord Genuity Growth Conference on Tuesday, August 9, 2011 at 4:00 p.m. at the InterContinental Hotel in Boston, Massachusetts.
During such presentation, Dirk Kuyper, Alphatec Spine's President and CEO, will provide an overview of the Company's activities. A live audio webcast of the presentation at the 2011 Canaccord Genuity Growth Conference will be accessible through the Company's investor relations website at www.alphatecspine.com. An archived edition of the presentation will be available later that day and will be available for at least 30 days afterwards.
Alphatec Spine, Inc. Receives Japanese Regulatory Shonin Approval for Illico SE(TM) Posterior Fixation Percutaneous Screw System
Alphatec Holdings, Inc. (MM) (NASDAQ:ATEC)
Intraday Stock Chart
Today : Monday 18 July 2011
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, today announces the Japanese launch of its Illico SE Posterior Fixation Percutaneous Screw System for minimally invasive surgery. The company recently received Shonin approval and will launch the system through its wholly owned subsidiary, Alphatec Pacific, and their respective distributors.
The Illico SE system was designed to be surgeon friendly and easily adaptable to a variety of surgical techniques. The Illico SE system provides three options for rod delivery, in-situ screw extender attachments, and innovative instrumentation for rod reduction and decompression/distraction.
It is estimated that by 2020, close to 50% of Japan's population will be over the age of 50 and this trend will continue to drive the need for better spinal implant and instrumentation technology. The Japanese spine market is estimated to be over $400 million US dollars, with a significant trend towards surgeons performing minimally invasive procedures.
"The launch of the Illico SE system, which has seen rapid adoption worldwide, will allow us to continue our aggressive growth in Japan as we drive to our goal of being in the top three from a revenue perspective in that market. Japan is the second-largest spine market globally, and Alphatec Pacific is well-positioned with a direct sales organization and strong product line. We have been particularly pleased with our ability to grow our market and consistently launch new technologies. We estimate our current market share at over 5% and to be number four in the market," said Dirk Kuyper, Alphatec Spine's President and CEO.
Alphatec Spine to Present at the Jefferies 2011 Global Healthcare Conference
Alphatec Holdings, Inc. (MM) (NASDAQ:ATEC)
Intraday Stock Chart
Today : Wednesday 1 June 2011
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, today announced it will present at the Jefferies 2011 Healthcare Conference in New York, New York on Wednesday, June 8, 2011 at 1:00 pm Eastern Time.
During such presentation, Dirk Kuyper, Alphatec Spine's President and CEO, will provide an overview of the Company's activities. A live audio webcast of the presentation at the Jefferies 2011 Healthcare Conference will be accessible through the Company's investor relations website at www.alphatecspine.com. An archived edition of the presentation will be available later that day and will be available for at least 30 days afterwards.
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, stenosis 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 products in over 50 international markets through its subsidiary, Scient'x S.A.S., via a direct salesforce in France, Italy and the United Kingdom and via independent distributors in the rest of Europe, the Middle East and Africa, South America and Latin America. In Asia and Australia, the Company markets its products through its subsidiary, Alphatec Pacific, Inc., and through Scient'x's distributors in China, Korea and Australia.
The Alphatec Holdings, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=3520
CONTACT: Michael O'Neill
Chief Financial Officer
Alphatec Spine, Inc.
(760) 494-6746
investorrelations@alphatecspine.com
Westwicke Partners
Lynn C. Pieper
(415) 202-5678
lynn.pieper@westwicke.com
Hey all. Noticed some decent movement as of late. New to the board, whats happening?
ATEC – Coming Back to Test Support After the Ascending Triangle Breakout
Things looked wide open last week when it was about to take off and start filling the gap, but it decided to come back and test support. We’ll see if support holds.
-RSI is now trading below some pretty key resistance, so I’d like to see it bounce here and get back above that trendline.
http://onlycharts.com/
Alphatec Spine Announces First Quarter 2011 Revenue and Financial Results
Date : 05/04/2011 @ 4:01PM
Source : GlobeNewswire Inc.
Stock : Alphatec Holdings, Inc. (ATEC)
Quote : 2.95 0.0 (0.00%) @ 7:22AM
Alphatec Spine Announces First Quarter 2011 Revenue and Financial Results
Alphatec Holdings, Inc. (MM) (NASDAQ:ATEC)
Intraday Stock Chart
Today : Wednesday 4 May 2011
Revenue of $49.7 million; 40.8% growth over Q1 2010; Pro Forma revenue growth of 6.6% over Q1 2010; 5.2% Growth on a Constant Currency basis
Adjusted EBITDA of $4.4 million
Net Loss of $1.9 million, or ($0.02) per share and Non-GAAP Net Income of $0.1 million, or $0.00 per share
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, announced today financial results for the quarter ended March 31, 2011.
First Quarter 2011 Performance Highlights
Achieved record consolidated revenue of $49.7 million, representing 6.6% pro forma growth over first quarter 2010 and 8.0% sequential revenue growth over fourth quarter 2010.
-- US revenue of $33.9 million represented pro forma growth of 7.8% over first quarter 2010, exceeding the growth rate of the US spine market.
-- International revenue of $15.9 million reported in first quarter 2011 grew by 4.0% on a pro forma basis over first quarter 2010. Strong performance in Japan, Asia Pacific and Latin America drove international revenues.
Continued strong uptake and demand for PureGenTM, the Company's Osteoprogenitor Cell Allograft, with 400 cases completed by the end of first quarter 2011.
The SolusTM ALIF System, a zero-profile, single-action locking implant that is used in anterior lumbar interbody fusion (ALIF) procedures, received 510(k) clearance from the FDA and the Company has commenced a controlled launch in the US.
Continued Aging Spine market penetration of OsseoFix®, HeliFix®, and OsseoScrew® in Europe.
Addition of Patrick Ryan as Chief Operating Officer. Mr. Ryan joins Alphatec Spine from Abbott Vascular Devices, where he had been Vice President-North Asia since August 2010. Prior to that position, Mr. Ryan held senior positions with increasing responsibility in Operations at Abbott and Guidant Corporation.
Dirk Kuyper, the Company's President and Chief Executive Officer, stated: "We are pleased with the overall revenue performance that the company delivered in the first quarter of 2011. In the US, we have re-established revenue momentum and continue to achieve growth rates that exceed the US spine market. We achieved record revenues in Japan and strong growth in Asia Pacific and Latin America." Mr. Kuyper continued, "We have successfully positioned Alphatec Spine as a global leader within the spine market, and we continue to be laser-focused on driving our differentiated technologies in Aging Spine, MIS and Biologics to gain market share globally. We are particularly pleased with the rapid product uptake of PureGen, and the 510(k) clearance of Solus during the quarter."
First Quarter 2011 Financial Results
Consolidated revenues for the first quarter 2011 were $49.7 million, an increase of 40.8% from the $35.3 million reported for the first quarter 2010. US revenues for the first quarter 2011 were $33.9 million, an increase of 19.1% from the $28.4 million reported for the first quarter 2010. International revenues were $15.9 million for the first quarter 2011, more than double the $6.9 million reported in the first quarter 2010.
Gross profit for the first quarter 2011 was $32.0 million, an increase of $8.4 million over the first quarter 2010 of $23.6 million. First quarter 2011 gross margin of 64.3% was below the first quarter 2010 gross margin of 66.7%. The decrease in gross margin of 240 basis points is primarily due to geographic sales mix. While US gross margins improved as compared to prior year, the international gross margin fell as our sales base expanded dramatically into new markets. Total operating expenses for the first quarter 2011 were $34.3 million, an increase of $7.2 million compared to the first quarter 2010 of $27.1 million. The first quarter 2011 includes $0.6 million in restructuring expenses. There were no in-process research and development expenses for the first quarter 2011, a decrease of $0.5 million compared to IPR&D expense in the first quarter 2010 of $0.5 million.
Adjusted EBITDA was $4.4 million in the first quarter 2011, a decrease of $1.1 million compared to the $5.5 million reported for the first quarter 2010. The change in Adjusted EBITDA is primarily attributable to the gross margin contribution and incremental operating expenses associated with our expanded international operations, which were not present in the first quarter 2010.
Net loss for the first quarter 2011 was $1.9 million, or ($0.02) per share (basic and diluted), compared with a net loss of $4.7 million, or ($0.09) per share (basic and diluted) for the first quarter 2010.
Non-GAAP EPS for the first quarter 2011 was $0.00 per share (basic and diluted), compared to $0.00 per share (basic and diluted) reported for the first quarter 2010. Non-GAAP net earnings or (loss) excludes in-process research and development expenses, acquisition-related inventory step-up, amortization of intangible assets and restructuring expenses.
Cash and cash equivalents were $21.5 million at March 31, 2011. After adjusting for one-time cash outlays, operating cash flow was flat as compared to the cash position as of December 31, 2010.
2011 Financial Guidance
The Company reaffirms full year 2011 financial guidance with revenues of $195.0 million to $205.0 million, and $25.0 million to $28.0 million in annual adjusted EBITDA. The Company anticipates generating both net income and positive free cash flow in 2011.
Conference Call
Alphatec Spine will host a conference call today at 1:30 p.m. PT / 4:30 p.m. ET to discuss the results. To participate in the conference call, please visit the investor relations section of the Alphatec Spine website at www.alphatecspine.com. The dial-in numbers are (877) 556-5251 for domestic callers and (720) 545-0036 for international. A live webcast of the conference call will be available online from the investor relations section of the Alphatec Spine website at www.alphatecspine.com. The webcast will be recorded and will remain available on the investor relations section of Alphatec Spine's website for at least 30 days.
About a month ago this broke out of an ascending triangle, and since then it tested support and consolidated on top of it's new support. Now this past week the price broke out of this most recent little consolidation range, though I don't really see a pickup in volume yet, which always worries me a little. Hopefully it starts to make it's way to new highs again, then the volume starts to ramp up.
http://onlycharts.com/forum-3/flipping-penny-stocks/flipping-penny-stocks-weekend-watchlist-update-may-2-6/
Alphatec Holdings Announces Appointment of Patrick Ryan as Chief Operating Officer
Alphatec Holdings, Inc. (MM) (NASDAQ:ATEC)
Intraday Stock Chart
Today : Monday 25 April 2011
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, today announced the appointment of Patrick Ryan as the Company's Chief Operating Officer.
Mr. Ryan joins the Company from Abbott Vascular Devices, where he has been the Vice President, North Asia since August 2010. This division of Abbott Vascular has annual revenues of $200 million. For the two years prior to his role in North Asia, he served as Abbott Vascular's Divisional Vice President for Canada and Latin America. Prior to that position, Mr. Ryan held two senior roles in Operations, specifically, Divisional Vice President, Worldwide Operations and Divisional Vice President, Operations, Cardiac Therapies. Before joining Abbott, Mr. Ryan held several positions with Guidant Corporation, including Vice President and Managing Director, Guidant Ireland. Prior to joining Guidant, Mr. Ryan served 14 years in the United States Navy, earning the rank of Commander. He received his MS in Petroleum Management from University of Kansas and his BS, from the United States Naval Academy.
Dirk Kuyper, the Company's President and Chief Executive Officer, stated, "We are extremely excited to welcome a professional of Pat Ryan's caliber to Alphatec Spine's management team. Pat's years of senior-level leadership on a global scale in the medical device industry will allow him to rapidly add value as our COO."
Alphatec Spine to Hold 1Q 2011 Financial Results Investor Call
Alphatec Holdings, Inc. (MM) (NASDAQ:ATEC)
Intraday Stock Chart
Today : Thursday 21 April 2011
Alphatec Holdings, Inc. (Nasdaq:ATEC), the parent company of Alphatec Spine, Inc., a leading medical technology company involved in the design, development, manufacturing and marketing of products for the surgical treatment of spine disorders, with a focus on treating conditions affecting the aging spine, announced today that it will hold an investor call on Wednesday, May 4, 2011 to discuss the Company's first quarter 2011 financial results.
Alphatec Spine will host this webcast and conference call at 1:30 p.m. Pacific Time (4:30 p.m. Eastern Time) on Wednesday, May 4, 2011. The dial-in numbers are (877) 556-5251 for domestic callers and (720) 545-0036 for international callers. A live webcast of the conference call will be available online from the investor relations page of the Company's corporate website at www.alphatecspine.com. Participating in the call will be Dirk Kuyper, President and Chief Executive Officer, Michael O'Neill, Chief Financial Officer, and Ebun S. Garner, Esq., General Counsel.
After the live webcast, the call will remain available on Alphatec Spine's website for at least 30 days following the presentation.
Gap Fill coming? Sure looks like it, grab your tickets while they're cheap.
Time to fill the Gap, Weeeeeeeeeeeeeeeeee
Nice little pop on volume in here. Base breakout coming? Base is 2.70, then we can do some fibs to see where this is going
one day youre saying it will crash to 1.48 and the next your claiming to have made 40000 in one day by buying yesterday. something doesnt add up.
anyways.... nice run, as i predicted. and hopefully it continues this week.
haha. well then I bought 300,000 shares at 1.86 and sold at 2.21 for a quick 105,000 profit... ill see you in the bahamas buddy.
Followers
|
20
|
Posters
|
|
Posts (Today)
|
0
|
Posts (Total)
|
181
|
Created
|
02/24/07
|
Type
|
Free
|
Moderators |
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |