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Orthofix drops on Q3 profit slide, lowered guidance

Thu, 10/25/2012 - 3:43pm
Mass Device

Shares of Orthofix drop nearly 4% today after the medical device company reported lower 3rd-quarter profits and cut its guidance for 2012.

Orthofix

Shares of Orthofix (NSDQ:OFIX) stock shed some 4% of their value today after the medical device company said its 3rd-quarter profits fell and lowered its guidance for the rest of the year.

Lewisville, Texas-based Orthofix reported profits of $7.6 million, or 39¢ per share, on sales of $114.8 million during the 3 months ended Sept. 30, for a 38.7% profit slide and a 2.1% decrease in sales.

The news sent OFIX shares down 3.6% today to $38.11 as of about 3:40 p.m.

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