MiMedx Group, Inc. Announces Sales Results for the Fourth Quarter and Full Year Ended December 31, 2016; Provides Revenue Guidance for the First Quarter of 2017 and Reiterates Earnings Guidance for the Full Year of 2017
January 09, 2017 at 04:59 pm EST
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MiMedx Group, Inc. announced sales results for the fourth quarter and full year ended December 31, 2016. The company recorded record revenue for the 2016 fourth quarter of $71.6 million, a $19.8 million or 38% increase over 2015 fourth quarter revenue of $51.8 million.
The company recorded record revenue for the year ended December 31, 2016 of $246.8 million, a $59.5 million or 32% increase over 2015 revenue of $187.3 million.
The company provided revenue guidance for the first quarter of 2017 and reiterated earnings guidance for the full year of 2017. First quarter of 2017 revenue forecasted to be in the range of $69.5 to $72.5 million.
The company reiterated earnings guidance for the full year of 2017. For the full year of 2017, the revenue guidance in the range of $302 to $307 million; gross profit margins for 2017 expected to be in the range of 86% to 88%; 2017 operating earnings forecasted to grow by 90% or greater; GAAP EPS for 2017 projected to be in the range of $0.18 to $0.20; adjusted EPS for 2017 projected to be in the range of $0.31 to $0.33; 2017 GAAP net earnings expected to grow in excess of 95%; and 2017 adjusted EBITDA expected to be in the range of 21% to 23% of revenue.
MiMedx Group, Inc. is a placental biologics company. The Company is engaged in developing and distributing placental tissue allografts with patent-protected, processes for multiple sectors of healthcare. Its product portfolio categories include Wound Care Products, and Surgical and Other Products. Its Wound Care Products include EPIFIX, EPICORD and EPIEFFECT, which are all marketed for external use, such as in advanced wound care applications. Its Surgical and Other product offering includes AMNIOFIX, AMNIOCORD and AMNIOEFFECT, which are positioned for use in a variety of applications and surgical settings, including lower extremity repair, plastic surgery, vascular surgery and multiple orthopedic repairs and reconstructions. The Company's platform technologies include tissue allografts derived from the human placental membrane, tissue allografts derived from the human umbilical cord, and a particulate extracellular matrix derived from the human placental disc.
MiMedx Group, Inc. Announces Sales Results for the Fourth Quarter and Full Year Ended December 31, 2016; Provides Revenue Guidance for the First Quarter of 2017 and Reiterates Earnings Guidance for the Full Year of 2017
MIMEDX GROUP, INC. 
