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Orthovita says 3Q revenue grew 5 percent to $23.3M

Thu, 10/21/2010 - 12:45pm
The Associated Press

Orthovita Inc., an orthopedic and surgical products maker, said Thursday its revenue rose 5 percent in the third quarter over the same period last year.

The company said product sales grew to $23.3 million from $22.3 million. It said revenue from its Cortoss bone augmentation material and Aliquot delivery system increased to $1 million from $400,000, and revenue from its Vitoss bone graft substitute rose 1 percent. Sales of biosurgery products rose 4 percent.

Orthovita launched the Cortoss graft during the third quarter of 2009. Aliquot is a device used to deliver Cortoss.

Analysts expected revenue of $23.5 million, according to Thomson Reuters. Orthovita is expected to report its full third-quarter results on Nov. 2.

Its shares gained 7 cents, or 3.3 percent, to $2.18 Thursday.

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