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Wright Medical announces second quarter financial results

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Wright Medical Group has reported financial results for its second quarter ending June 30.

Net sales totaled $80.4 million during the second quarter of 2015, representing an 11% increase as reported and a 15% increase on a constant currency basis compared with the second quarter of 2014. Additionally, second-quarter global total ankle replacement sales also increased by 67%, according to a company press release.

“Our second-quarter results demonstrated the strong growth of our U.S. foot and ankle business and improvement in our international business. Specifically, our U.S. foot and ankle business grew 25% in the quarter, which was another quarter of significant growth acceleration driven by improved sales force execution, medical education and strong contribution from new products,” Robert Palmisano, president and CEO, said in the release.

According to the release, as a result of the completed sale of the hip and knee business to MicroPort Medical B.V., this business is now reported as discontinued operations. Net loss from continuing operations for the second quarter totaled $37.3 million compared with a net loss from continuing operations of $53.6 million in the second quarter of 2014.

Reference: www.wmt.com.