Globus Medical, Inc., a medical device company, focuses on the design, development, and commercialization of musculoskeletal implants that promote healing in patients with spine disorders. It offers products that address an array of spinal pathologies, anatomies, and surgical approaches. The company provides fusion products that are used in cervical, thoracolumbar, sacral, and interbody/corpectomy fusion procedures to treat degenerative, deformity, tumor, and trauma conditions. It also offers disruptive technology products that provide material improvements to fusion procedures, such as minimally invasive surgical techniques, as well as new treatment alternatives, which include motion preser...
2560 General Armistead Avenue
Audubon, PA 19403
Founded in 2003
Lundin Law PC Announces Securities Class Action against Globus Medical, Inc
Nov 14 15
Lundin Law PC announced that class action lawsuit has been filed against Globus Medical, Inc. concerning possible violations of federal securities laws between February 26, 2014 and August 5, 2015. Investors who purchased or otherwise acquired shares should contact the Firm before the November 30, 2015. According to the complaint, the company made misleading statements and/or failed to disclose that the company's relationship with an important distributor was deteriorating; and that this deterioration was hurting the company's financial performance.
Globus Medical, Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2015; Revises Earnings Guidance for Fiscal 2015
Nov 3 15
Globus Medical, Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2015. The company reported sales of $136,992,000, operating income of $40,675,000, income before income taxes of $40,928,000, net income of $26,481,000 or $0.28 per diluted share against sales of $117,787,000, operating income of $34,923,000, income before income taxes of $34,799,000, net income of $23,061,000 or $0.24 per diluted share a year ago. Adjusted EBITDA was $50,519,000 against $41,961,000 a year ago. Non-GAAP net income was $26,499,000 or $0.28 per diluted share against $23,091,000 or $0.24 a year ago.
For the nine months, the reported sales of $402,166,000, operating income of $116,225,000, income before income taxes of $116,572,000, net income of $75,183,000 or $0.78 per diluted share against sales of $345,570,000, operating income of $98,718,000, income before income taxes of $99,164,000, net income of $68,847,000 or $0.68 per diluted share a year ago. Adjusted EBITDA was $143,575,000 against $124,170,000 a year ago. Non-GAAP net income was $75,462,000 or $0.78 per diluted share against $67,374,000 or $0.68 a year ago. Net cash provided by operating activities was $77,877,000 $77,227,000 a year ago. Purchases of property and equipment was $36,606,000 against $15,659,000 a year ago.
Based on the results for the first nine months of the year, the company increased guidance for full year 2015 sales by $15 million to $539 million and earnings per share by $0.03 to $1.07. The increased sales guidance takes into account expectations for $5.5 million unfavorable impact of foreign currency exchange.