NEW YORK (Thomson Financial) - Shares of Orthofix International N.V. plunged
Friday after the company reported fourth-quarter results that missed
expectations.
The shares dropped 15.9% to $44.03 Friday on a volume of 363,947 shares, far
above the company's 30-day average volume of 146,596 shares.
On Thursday after the bell, the Huntersville, N.C.-based orthopedic products
company reported adjusted net income of $7.6 million, or 45 cents a share, down
from the $11.9 million, or 70 cents a share reported in the fourth quarter of
2006.
The mean estimate of analysts polled by Thomson Financial was 62 cents a
share.
Revenue rose 11% to $128.8 million during the quarter, up from the $116.1
million posted in the year-ago ago period, but down from the $129.9 million
analyst estimate.
Ryan Vlastelica
rv/vj
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