Dallas, Texas 03/25/2014 (FINANCIALSTRENDS) – Bacterin International Holdings Inc (NYSEMKT:BONE) is a leader in development of the revolutionary bone-graft material & coatings for the medical applications. The company reported its financial results for the Q4 and full-year that ended Dec 31, 2013. Bacterin International Holdings Inc (NYSEMKT:BONE) reported its annual revenues of around $33.1M and a net -loss for the year of around $12.7 million,/ $.27 per common share. In the Q4 2013, the revenue was around $8.3 million, a rise of 1.7% in comparison to around $8.1 million in the same period in 2012. The Q4 2013 core-recurring biologics revenues, that excludes the stocking order transactions, were around $8.1 million, a rise of around 4.8% in comparison to the Q4 of 2012 and the sequential rise of around 5.4% in comparison to the Q3 of 2013.
Bacterin International Holdings Inc (NYSEMKT:BONE)’s President and Chief Executive Officer, Dan Goldberger said that since the time he joined the company, one of his top-most priorities has been about strengthening the company’s sales force. They have worked very diligently to recognize and to reward success & learn from their failure. They had 65 different employees in their sales function in the Q4 2012 who was responsible for around $8M in sales.
Only 25 of the employees are now still with Bacterin International Holdings Inc (NYSEMKT:BONE) but they all were responsible for $8.1M in sales. He said that in other words, they have very dramatically improved productivity of the sales function via attrition and focus. They have also now identified the strategies that actually work and they will continue to build their sales function with this in mind. They remain committed to their hybrid sales structure & many of the company’s successful employees are now involved in managing & training their distributor partners.