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Stock Market & Financial Investment News

News Breaks
March 31, 2014
11:05 EDTOFIXOrthofix received more allegations of improper payments, WSJ says
In October last year, Orthofix was contacted by a tipster that alleged the company paid kickbacks to surgeons in Brazil, while the company was already in the process of investigating potential improper payments involving a subsidiary in the country, says the Wall Street Journal. The tipster alleged that Orthofix paid kickbacks both directly and through a distributor to win business, added the Wall Street Journal, citing emails that it viewed. Reference Link
News For OFIX From The Last 14 Days
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August 19, 2014
16:23 EDTOFIXOrthofix to request NASDAQ hearings panel to stay NASDAQ delisting
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16:22 EDTOFIXOrthofix plans to restate prior periods’ financial statements
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August 6, 2014
08:59 EDTOFIXOrthofix reports preliminary Q2 revenue $101.3M, consensus $99.20M
Orthofix International announced that it is delaying the release of its financial results for Q2. The company requires additional time to evaluate certain items primarily related to entries contained in the previous restatement of its prior periods’ financial results. The company said, "While it is unfortunate we have discovered items that require additional analysis in certain previous restatement entries, considering the complexity of our prior restatement, the identification of potential technical errors is understandable. We look forward to finalizing the analysis as quickly as possible and bringing the investment community up to date on the recent performance of the business. There may be changes to historical net sales and net income totals, but we expect that the factors causing these revisions, if any, will have little or no effect on the underlying performance of the business going forward.” Reports preliminary Q2 BioStim net sales $39.8M. Reports preliminary Q2 Biologics net sales $13.9M. Reports Q2 preliminary Extremity Fixation net sales $27.3M. Reports preliminary Q2 Spine Fixation net sales $20.2M.

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