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Osteotech Reports Fourth Quarter and Full Year 2009 Financial Results
Date:3/4/2010

Revenue for the three months ended December 31, 2009 was $26.3 million, including $1.0 million from new products, compared with $24.6 million for the three months ended December 31, 2008.  The increase in revenue for the fourth quarter of 2009 compared with the same period of 2008 was primarily driven by the $3.3 million in revenue realized from an agreement to license certain of the Company’s tissue processing technology.  This increase in revenue was partially offset by the anticipated reduction in revenue from the client services business and a decline in domestic unit sales volume.  Excluding client services, private label demineralized bone matrix and the license agreement revenue, fourth quarter 2009 revenue declined 3% compared with fourth quarter 2008 revenue.  

Revenue for the full year ended December 31, 2009 was $96.7 million compared with $103.8 million reported for 2008.  New product revenue was $1.3 million for 2009.  The decline in revenue for the year was primarily driven by: the anticipated reduction in revenue from the Company’s services businesses, which declined $6.4 million; a decline in international revenue reflecting the challenging general economic conditions and the impact from the temporary suspension of tissue products from the Company’s Bulg
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SOURCE Osteotech, Inc.
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