Full Press Release Details
Bacterin International Holdings, Inc.
Fourth Quarter Revenues
BELGRADE, MT - February 20, 2013 - Bacterin
International Holdings, Inc. (NYSE MKT: BONE), a leader in the development of revolutionary bone graft material and antimicrobial
coatings for medical applications, today announced preliminary revenues for the fourth quarter and full year ended December 31,
The company expects to report revenues
of approximately $8.1 million in the fourth quarter of 2012, compared to revenues of $9.1 million in the fourth quarter of 2011
and revenues of $8.9 million in the third quarter of 2012.
Revenues for the full-year of 2012 are
expected to be $33.0 million, which is a 9% increase over $30.1 million for the twelve months ended December 31. 2011. Excluding
the impacts of distributor stocking orders, revenues for the full-year of 2012 would have increased 14% over 2011.
"Revenues during the fourth quarter
were softened by orders anticipated to close during the period, which have shifted into our prospective pipeline for 2013. Although
we were successful in generating orders during the fourth quarter, our revenues for the year were lower than our prior guidance.
I have been pleased with the progress we have made to adapt our strategy to mitigate the competitive headwinds and pricing pressure
we are experiencing in the marketplace", said Guy Cook, Bacterin International's Chief Executive Officer. "Strategic
initiatives that we implemented during the fourth quarter are beginning to bear fruit and we are improving our capabilities as
Mr. Cook continued," For 2013 we
expect revenues to be between $38 and $40 million, which represents an increase of approximately 15% to 20% over 2012. A component
of our growth strategy going forward will be to create additional sales channels that will continue to grow our top-line and enhance
our market position. These opportunities represent potential upside to our guidance for 2013 and have not been included due to
the intricacies in determining the timing of these transactions".
About Bacterin International Holdings
Bacterin International Holdings, Inc. (NYSE
MKT: BONE) develops, manufactures and markets biologics products to domestic and international markets. Bacterin's proprietary
methods optimize the growth factors in human allografts to create the ideal stem cell scaffold to promote bone, subchondral repair
and dermal growth. These products are used in a variety of applications including enhancing fusion in spine surgery, relief of
back pain, promotion of bone growth in foot and ankle surgery, promotion of cranial healing following neurosurgery and subchondral
repair in knee and other joint surgeries.
Bacterin's Medical Device division develops,
employs, and licenses bioactive coatings for various medical device applications. For further information, please visit www.bacterin.com.
Important Cautions Regarding Forward-looking
This news release contains certain disclosures
that may be deemed forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are
subject to significant risks and uncertainties. Forward-looking statements include statements that are predictive in nature, that
depend upon or refer to future events or conditions, or that include words such as "continue," "efforts," "expects,"
"anticipates," "intends," "plans," "believes," "estimates," "projects,"
"forecasts," "strategy," "will," "goal," "target," "prospects," "potential,"
"optimistic," "confident," "likely," "probable" or similar expressions or the negative
thereof. Statements of historical fact also may be deemed to be forward-looking statements. We caution that these statements by
their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors,
including, among others: the Company's ability to achieve projected sales targets, the Company's ability to successfully
close transactions with stocking distributors, the Company's ability to achieve projected market penetration despite industry
wide pricing pressure, the Company's ability to launch beta and full product releases, the Company's ability to obtain FDA concurrence
use for anti-microbial coatings in a timely manner; the Company's ability to meet its obligations under existing and anticipated
contractual obligations; the Company's ability to develop, market, sell and distribute desirable applications, products and services
and to protect its intellectual property; the ability of the Company's sales force to achieve expected results; the ability of
the Company's customers to pay and the timeliness of such payments, particularly during recessionary periods; the Company's ability
to obtain financing as and when needed; changes in consumer demands and preferences; the Company's ability to attract and retain
management and employees with appropriate skills and expertise; the impact of increased taxation, changes in market, legal and
regulatory conditions and in the applicable business environment, including actions of competitors; and other factors. Additional
risk factors are listed in the Company's Annual Report on Form 10-K under the heading "Risk Factors." The Company undertakes
no obligation to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the
date hereof or to reflect the occurrence of unanticipated events, except as required by law.