Medical device maker Alphatec Holdings Inc. posted a larger first-quarter loss on Monday as it completed the purchase of Scient'x Groupe SAS.
The parent of Alphatec Spine said it lost $4.7 million, up from $4.4 million a year ago. Because the company now has more stock on the market, its per-share loss was unchanged at 9 cents. Excluding costs related to the Scient'x deal and restructuring costs, the company said it lost $200,000 — or broke even on a per-share basis.
Analysts were expecting a loss of 2 cents per share, according to Thomson Reuters.
Alphatec said its revenue grew 26 percent, to $38.4 million from $30.6 million. U.S. sales were up 19 percent to $28.4 million, and European sales rose to $3.9 million from $1 million. Analysts had expected $38.2 million in revenue.
The company reported $3.2 million in transaction costs and $882,000 in restructuring costs during the quarter. It also said research and development spending rose by $1 million, to $3.7 million.
Alphatec said it expects $220 million to $225 million in revenue this year, in line with its previous forecast. Analysts are projected $205.1 million on average.
