Össur Reports Third Quarter Results

Össur announced a 12% sales growth for the third quarter, according to company press release. Total sales amounted to $101 million compared with $87 million for the third quarter in 2010. All markets and product segments contributed to the growth. Performance in bracing and supports delivered a sales growth of 17%, and sales growth in prosthetics was 7%.

Net profit increased by 165% compared with the third quarter in 2010. Earnings before interest, taxes, depreciation, and amortization were $21 million, or 21% of sales, and gross profit amounted to $64 million, or 63% of sales. Net profit amounted to $11 million, or 11% of sales.

“The sales in the third quarter are excellent and we are pleased with the overall performance. All regions and product segments are growing. Healthy flow of new products fuels the growth, and products launched in 2010 and 2011 are strong contributors to this success,” Jón Sigurðsson, Össur’s president and CEO, said in the release. “During the quarter, we introduced yet another bionic product, the SYMBIONIC LEG, combining seamlessly the function of the Rheo Knee and the Proprio Foot and offering unprecedented functionality for above knee amputees. This latest addition to our bionic platform confirms our technology leadership in this segment.”

The SYMBIONIC LEG was introduced in the US in September at the American Orthotic and Prosthetic Association trade show. It is one of six new products — four bracing and support and two prosthetic — that Össur released during the quarter.

Össur also officially opened a new facility in Tijuana, Mexico, in September. The state-of-the-art facility, which Össur started building in September 2010, acquired the manufacturing of a number of product lines from the US facility.

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