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Chief Financial Officer
Alphatec Spine, Inc.
Lynn C. Pieper
ALPHATEC SPINE ANNOUNCES FOURTH QUARTER AND FULL YEAR 2010
REVENUE AND FINANCIAL RESULTS
Annual GAAP revenue of $171.6 million; 42.3% growth over 2009; pro forma revenue of $182.9 million; 7.1% growth over 2009 and 8.3% growth on a constant-currency basis
Adjusted EBITDA of $18.9 million; 32.2% growth over 2009
CARLSBAD, Calif., February 24, 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 financial results for the fourth quarter and full year ended December 31, 2010.
2010 Performance Highlights
Positioned Alphatec as a global leader within the spine market.
Completed acquisition of Scientx S.A.
Acquisition created global scale with sales in over 50 countries in all major markets.
Combined entity is the third-largest global pure-play spinal implant company.
Alphatec Spine products launched in all major European markets and several other major international markets.
Achieved significant revenue growth in key markets.
Achieved annual U.S. revenue of $119.9 million, representing 14.7% year-over-year growth on a GAAP basis, and 6.1% year-over-year growth on a pro forma basis.
With expanded European product distribution, achieved annual Europe revenue of $24.2 million, representing more than 490% year-over-year growth on a GAAP basis, and 16.9% year-over-year growth on a pro forma basis.
Achieved annual Asia revenue of $20.0 million, representing 66.8% year-over-year growth on a GAAP basis, and 16.8% year-over-year growth on a pro forma basis.
The following information was filed by Alphatec Holdings, Inc. (ATEC) on Thursday, February 24, 2011 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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