MiMedx Group Inc (MDXG)

[XenaLives]

MiMedx Reports Unreviewed First Quarter Revenue Exceeded Upper End Of Its Guidance
COMPANY ANNOUNCES ITS REVENUE GUIDANCE FOR SECOND QUARTER AND INCREASES FULL YEAR REVENUE GUIDANCE
MARIETTA, Ga., April 26, 2018 /PRNewswire/ -- MiMedx Group, Inc. (NASDAQ: MDXG), a leading developer and marketer of regenerative and therapeutic biologics, today announced certain unreviewed results for the first quarter of 2018, announced its revenue guidance for the second quarter of 2018, and increased its revenue guidance for full year 2018. The Company reaffirmed its expectations for gross margin, operating income, Generally Accepted Accounting Principles ("GAAP") diluted earnings per share and adjusted diluted earnings per share. The Company previously announced its unreviewed revenue results for the first quarter had exceeded its first quarter revenue guidance.

Parker H. "Pete" Petit, Chairman and CEO stated, "The first quarter revenue growth is a clear demonstration of the strength of our product lines, our sales management system and the talent we have assembled in our sales and other key functions within our organization. Based upon our strong first quarter performance, we have raised our full year revenue guidance from a previous range of $383 million to $387 million to a revised range of $389 million to $394 million. We are also tracking to our annual goals previously announced on December 13, 2017, regarding gross margin (89% to 90%), operating income margin (15% to 17%), GAAP diluted earnings per share ($0.30 to $0.35) and adjusted earnings per share ($0.45 to $0.50). Furthermore, we are providing second quarter revenue guidance in the range of $96 million to $98 million. The number of active customer accounts grew by more than 25% last year and they are continually broadening as our allografts are becoming part of the standard of care among the physicians who have access to our products. Our cash flow continues to be strong."

continued..

https://mimedx.gcs-web.com/news-releases/news-release-details/mimedx-reports-unreviewed-first-quarter-revenue-exceeded-upper