Last $32.29 USD
Change Today +0.55 / 1.73%
Volume 486.3K
WMGI On Other Exchanges
Symbol
Exchange
NASDAQ GS
Frankfurt
As of 8:10 PM 09/18/14 All times are local (Market data is delayed by at least 15 minutes).

wright medical group inc (WMGI) Key Developments

Wright Medical Group, Inc. Names Kevin D. Cordell as President, U.S. Extremities, Effective from September 29, 2014

Wright Medical Group Inc. announced that Kevin D. Cordell has been appointed President, U.S. Extremities, effective September 29, 2014. Mr. Cordell will have operating responsibility for Wright's U.S. extremities and biologic business, reporting directly to the chief operating officer, and be located at Wright's corporate headquarters in Memphis. Prior to joining Wright Medical, Mr. Cordell served as Vice President of Sales for the GI Solutions business at Covidien, from May 2012 to September 2014. While at Covidien, he also served as Vice President of Sales & Global Marketing for its Peripheral Vascular business from July 2010 to May 2012. Prior to ev3, Mr. Cordell served as Vice President, Global Sales of FoxHollow Technologies Inc. from March 2007 to October 2007.

Wright Medical Mulls Acquisitions

Wright Medical Group Inc. (NasdaqGS:WMGI) is looking for acquisitions. Bob Palmisano, President and Chief Executive Officer of Wright Medical Group Inc. said, "The second use of our cash would be to use it to fund both technology acquisitions and geographical acquisitions."

Wright Medical Group, Inc. Announces Executive Changes

On August 20, 2014, Wright Medical Group Inc. announced that Eric Stookey, President, Extremities/Biologics, would cease to be an employee of the company effective August 20, 2014. Pascal E.R. Girin, the company’s Executive Vice President and Chief Operating Officer, will assume direct oversight of the company’s extremities and biologics businesses, while the company conducts a search process to fill the position.

Wright Medical Group Inc. Reports Unaudited Consolidated Financial Results for its Second Quarter and Six Months Ended June 30, 2014; Provides Earnings Guidance for the Full Year of 2014

Wright Medical Group Inc. reported unaudited consolidated financial results for its second quarter and six months ended June 30, 2014. For the quarter, the company reported net sales of $72,364,000 compared to $60,572,000 in the second quarter of 2013. Operating loss was $29,171,000 compared to $13,181,000 a year ago. Loss from continuing operations before income taxes was $51,613,000 compared to $21,748,000 a year ago Net loss from continuing operations was $53,583,000 or $1.08 per basic and diluted share compared to $15,539,000 or $0.34 per basic and diluted share a year ago. Net loss was $56,226,000 or $1.13 per basic and diluted share compared to $17,331,000 or $0.37 per basic and diluted share a year ago. Operating loss, as adjusted was $21,990,000 compared to $7,866,000 a year ago. EBITDA was $40,167,000 compared to $11,477,000 a year ago. Adjusted LBITDA was $11,565,000 compared to adjusted EBITDA of $590,000 a year ago. Loss before taxes, as adjusted was $23,638,000 compared to $9,441,000 a year ago. Net loss, as adjusted was $23,962,000 compared to $5,785,000 a year ago. Net loss from continuing operations, as adjusted, per diluted share was $0.48 compared to $0.13 a year ago. Net cash used in operating activities was $24,350,000 compared to net cash generated from operating activities of $10,923,000 a year ago. Capital expenditures were $16,448,000 compared to $5,995,000 a year ago. Free cash flow was $40,798,000 compared to negative free cash flow of $4,928,000 a year ago. For the six months, the company reported net sales of $143,426,000 compared to $116,865,000 a year ago. Operating loss was $52,217,000 compared to $26,407,000 a year ago. Loss from continuing operations before income taxes was $94,081,000 compared to $33,070,000 a year ago Net loss from continuing operations was $83,881,000 or $1.71 per basic and diluted share compared to $20,457,000 or $0.47 per basic and diluted share a year ago. Net loss was $86,646,000 or $1.76 per basic and diluted share compared to $8,896,000 or $0.20 per basic and diluted share a year ago. Operating loss, as adjusted was $36,488,000 compared to $12,301,000 a year ago. EBITDA was $72,071,000 compared to $13,802,000 a year ago. Adjusted LBITDA was $17,752,000 compared to adjusted EBITDA of $1,990,000 a year ago. Loss before taxes, as adjusted was $40,004,000 compared to $15,653,000 a year ago. Net loss, as adjusted was $40,520,000 compared to $9,133,000 a year ago. Net loss from continuing operations, as adjusted, per diluted share was $0.82 compared to $0.21 a year ago. Net cash used in operating activities was $51,590,000 compared to net cash generated from operating activities of $5,755,000 a year ago. Capital expenditures were $24,284,000 compared to $9,735,000 a year ago. Free cash flow was $75,874,000 compared to $3,980,000 a year ago. The company reiterates its previous guidance range for net sales from continuing operations, or extremity and biologics revenue, for 2014 of approximately $308 million to $312 million. This represents a growth rate of 27% to 29% (including Solana, OrthoPro and Biotech acquisitions). This range anticipates some potential minor, short-term dis-synergies due to the closing of the transactions with MicroPort, Biotech International, Solana Surgical and OrthoPro. The company reiterates its previously issued full-year 2014 adjusted EBITDA from continuing operations, as described in the GAAP to non-GAAP reconciliation provided later in this release, of negative $20.0 million to negative $15.0 million. The company expects to exit 2014 with positive adjusted EBITDA. The company also reiterates its previously issued adjusted earnings per share from continuing operations, including stock-based compensation, for full-year 2014 of $1.28 to $1.38 per diluted share, based on approximately 49.9 million shares outstanding. The company currently estimates that the after-tax impact of those expenses will be approximately $0.23 per diluted share for the full-year 2014.

Wright Medical Group Inc. Presents at 2014 Morgan Stanley Global Healthcare Conference, Sep-08-2014 02:00 PM

Wright Medical Group Inc. Presents at 2014 Morgan Stanley Global Healthcare Conference, Sep-08-2014 02:00 PM. Venue: The Grand Hyatt Hotel, New York, New York, United States. Speakers: Robert J. Palmisano, Chief Executive Officer, President and Director.

 

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup
Recently Viewed
WMGI:US $32.29 USD +0.55

WMGI Competitors

Market data is delayed at least 15 minutes.

Company Last Change
Cyberonics Inc $53.99 USD +1.02
Exactech Inc $24.19 USD +0.17
ICU Medical Inc $62.96 USD +0.60
Thoratec Corp $26.40 USD +0.25
Tornier NV $24.45 USD +0.40
View Industry Companies
 

Industry Analysis

WMGI

Industry Average

Valuation WMGI Industry Range
Price/Earnings NM Not Meaningful
Price/Sales 5.9x
Price/Book 3.6x
Price/Cash Flow NM Not Meaningful
TEV/Sales 3.8x
 | 

Sponsored Financial Commentaries

Sponsored Links

Report Data Issue

To contact WRIGHT MEDICAL GROUP INC, please visit . Company data is provided by Capital IQ. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.