Please wait while we load the requested 10-K report or click the link below:
Senior Director, Investor Relations
Alphatec Spine, Inc.
ALPHATEC SPINE ANNOUNCES FOURTH QUARTER AND FULL YEAR 2012
REVENUE AND FINANCIAL RESULTS
CARLSBAD, CA, February 28, 2013 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 Alphatecs transformation, but with much of the heavy lifting now behind us our focus is on performance execution in 2013. The Companys employees have fully embraced a culture of continuous improvement to strengthen our competitive position.
I remain excited and confident about the Companys 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 Companys 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.
The following information was filed by Alphatec Holdings, Inc. (ATEC) on Thursday, February 28, 2013 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.
View differences made from one year to another to evaluate Alphatec Holdings, Inc.'s financial trajectory
Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were
removed , and by Alphatec Holdings, Inc..