AMSTERDAM (AP) _ Wright Medical Group Inc. (WMGI) on Tuesday reported a loss of $105.8 million in its fourth quarter. On a per-share basis, the Amsterdam-based company said it had a loss of $1.03. Losses, adjusted for non-recurring costs and amortization costs, were 8 cents per share. The results surpassed Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for a loss of 33 cents per share. The orthopedic implant maker posted revenue of $177 million in the period, which also topped Street forecasts. Fourteen analysts surveyed by Zacks expected $165.9 million. For the year, the company reported that its loss widened to $298.7 million, or $4.61 per share. Revenue was reported as $415.5 million. Wright Medical expects full-year results to range from a loss of 71 cents per share to a loss of 65 cents per share, with revenue in the range of $695 million to $705 million. Wright Medical shares have dropped 29 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $17.15, a decrease of 33 percent in the last 12 months. _____
So what does all of this mean? I am working my ass off, and growing. Where does all of the money go? How can it be?
It's called paying out more than you take in. Comping every doc to use your products and all the rich consultant agreements take their toll. Add in hideously overpaying for Tornier and the debt that resulted >>> profitability won't be achieved again before a buyout. The bigger question is who will be the bag holder??? S&N, Stryker, Zimmer-met, DePuy??? One of them will take the bait and reward Wright shareholders. They pay the guys that make these bad decisions lots of $$$$$$.
Don't forget the ridiculous comp packages for the flat out stupid number of people in "senior leadership" roles. I don't think we have enough Sr. Directors or VP's. Definitely not enough VP's. And hey...let's pay them all to commute while we're at it.