Alphatec Holdings Inc. reported a smaller third-quarter loss Monday due to improved sales of its spinal devices.
The parent of Alphatec Spine said it lost $1.3 million, or 2 cents per share, compared with $4.9 million, or 10 cents per share, one year ago. Its revenue increased 27 percent to $32.7 million from $25.8 million. According to Thomson Reuters, analysts were expecting a loss of a penny per share and $32.9 million in revenue.
Alphatec makes products that are used in treating spine disorders, particularly conditions associated with aging. During the quarter, the company said U.S. revenue rose 21 percent to $26.1 million, and international sales jumped 52 percent to $6.6 million.
For the full year, Alphatec backed its revenue forecast of $128 million to $130 million. Analysts expect $130.2 million, on average. In afternoon trading, the company's stock rose 8 cents to $4.81.