RTI Biologics, Inc. (RTI Biologics) has declared its preliminary fourth quarter and full-year 2008 revenues. For the periods, company expects revenues to be $146.6 million for full year 2008 and expects $37.3 million for the fourth quarter of 2008. This compares to 2007 full year revenues of $94.2 million and fourth quarter revenues of $25.5 million.
RTI Biologics also reiterated its outlook for 2009, for the full year now revenues is expected to be in the range of $166 million to $168 million with earnings per share expected to be in the range of $0.11 to $0.13.
“Our management team feels that through a rebound in our sports medicine group and new product launches through the year, we will be able to meet the outlook we have set for 2009,” said Brian K. Hutchison, RTI Biologics chairman and chief executive officer. “Additionally, through the strength of our donor services program, we are projecting a significant increase in musculoskeletal tissue supply in the coming year, which will ensure we have enough implants to meet the needs of our distributors, surgeons and patients.
“As a company, we understand that growth in this environment will be challenging, and our management team is committed to working hard to achieve our goals and grow our revenues and earnings over the long term while remaining very focused on profitability and cash flow.”