Safe Orthopaedics announces full-year 2015 results, first-quarter 2016 revenue

Issue: May 2016

Safe Orthopaedics recently announced its financial results for the full-year of 2015 and its first-quarter revenue for 2016.

As a whole, according to a company press release, revenue for Safe Orthopaedics rose 25% to 2.5 million euros during 2015, with mixed performance across its various regions. In March 2016, Safe Orthopaedics announced a refocus of its business to rapidly expanding regions, such as France, the rest of Europe and emerging markets. The company noted its withdrawal from the United States gave rise to 0.1 million euros in costs in 2015, but savings are expected to add up to around 1 million euros in 2016 and 1.5 million euros during the course of a full year.

The company recorded revenue of 0.56 million euros adjusted for the United States in the first quarter of 2016. The company release states the small increase is a reflection of limited sales and marketing resources in the new priority regions, and through further reorganization and strengthening of the sales team, the company should begin seeing an increase in the second quarter of 2016.

“In 2015, we continued to pursue our [research and development] R&D efforts, launching trauma and fenestrated screws. A new cervical range is also under development and scheduled for introduction during the second quarter of 2016,” Gérard Vaillant, chairman of Safe Orthopaedics’ board of directors, said in the press release. “In addition, we began to refocus our activities in an effort to reallocate our resources to the most rapidly expanding regions. To the end, we are hiring a new chief executive officer, and our search is making good progress. We plan to move into several new countries in 2016, and recently we sealed a distribution agreement covering Australia and New Zealand, representing the first concrete achievement as part of our refocusing drive.”

Reference:

http://safeorthopedics.com/international/admin/im_charge1/48.pdf