Össur releases third-quarter results for 2017

Össur has released financial information for the third quarter of 2017, showing the company registered $139 million in sales, according to a statement on its website.

The quarterly sales represent a 5% growth and a 3% organic growth, measured in local currency, compared to 4% organic growth in the third quarter of 2016. According to Össur, the decrease was due to fewer working days. Sales in the first 9 months of 2017 totaled $415 million, which represents a 9% growth and a 4% organic growth measured in local currency.

“Growth in the first 9 months of the year is primarily driven by strong performance in the prosthetics segment which is growing organically above estimated market growth,” Jon Sigurdsson, president and chief executive officer of Össur, said in the statement. “Furthermore, we are pleased to see our high-end innovative products performing well in both prosthetics and bracing [and] supports, such as the Rheo Knee and Unloader One. In September, we announced efficiency initiatives to further increase profitability in our business with planned savings that will begin to materialize in 2018.”

Other figures released in the financial statement include:

prosthetics grew 5% organically in the quarter compared to the 11% organic growth seen during the third quarter of 2016;

gross profit in the quarter totaled $87 million, or 63% of sales, and gross profit in the first 9 months of the year amounted to $258 million, or 62% of sales; and

net profit this quarter amounted to $11 million, or 8% of sales, while net profit for January through September totaled $35 million, or 8% of sales.



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