Össur, Reykjavik, Iceland, announced that its third quarter 2010 sales increased 7 percent. Total sales amounted to US $87 million compared to US $84 million in the third quarter of 2009. Sales of bracing and supports were strong, growing 12 percent, while sales of prosthetics were slow, growing 3 percent.
The company says that margins remain stable. Earnings before interest, taxes, depreciation, and amortization (EBITDA) amounted to US $19 million, or 22 percent of sales, and gross profit amounted to US $54 million or 62 percent of sales. Net profit amounted to US $4 million compared to US $5 million for the same period in 2009. Net profit was significantly impacted by negative exchange-rate adjustments related to financial items.
“Performance in the bracing and supports segment continues to be good, especially in the U.S.,” Össur President and CEO Jon Sigurdsson said. “The product pipeline remains strong, and we are pleased to see how the new bracing and supports products are contributing to growth. Amongst new products launched in the quarter is the PROPRIO foot, which is the second product in Össur’s bionic platform. The bionic platform has created excitement in the market, and we are committed to further development within this field.”
