Orthofix International posts narrower 4Q loss

BOSTON - Orthopedic product maker Orthofix International N.V. said Thursday its loss narrowed in the fourth quarter on reduced impairment charges.

The company posted a net loss of $717,000, or 4 cents per share, compared with a net loss of $10.5 million, or 62 cents per share.

Total sales rose 2.7 percent to $132.3 million from $128.8 million.

Excluding one-time charges the company said it would have earned $6.8 million, or 40 cents per share, up 77 percent from $3.8 million, or 23 cents per share, in the fourth quarter of 2007.

Analysts polled by Thomson Reuters expected earnings of 30 cents per share. Such estimates generally exclude one-time events.

For full year 2008 the company posted an adjusted net loss of $27.0 million, or $1.57 per share.

For 2009, the company expects to earn between $1.38 and $1.48 per share on revenue between $535 and $545 million, excluding restructuring costs.

Shares of Orthofix International rose 29 cents to close at $15.96.

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