RTI Biologics Announces 2010 Third Quarter Results

RTI Biologics Inc. (RTI) RTIX reported operating results for the third quarter ended Sept. 30, 2010 as follows:

Quarterly Highlights:

• Achieved quarterly revenues of $41.8 million, with gross margin of 48 percent.
• Achieved growth in the domestic sports medicine business of 20 percent over third quarter 2009.
• Signed an exclusive, 10-year distribution agreement with Zimmer Dental Inc. for biologic implants for the dental market worldwide.
• Signed an exclusive agreement with Athersys Inc. to provide RTI access to its Multipotent Adult Progenitor Cell (MAPC) technologies.
• Signed a distribution agreement with SeaSpine, a new distributor for spinal implants, and launched a new cervical construct.
• Launched a new spine implant with Medtronic.
• Net loss of $133.1 million, or $2.43 per fully diluted share, included a non-cash goodwill impairment charge.
• Adjusted net income, excluding the impairment charge, was $1.6 million, or $0.03 per fully diluted share.