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