Globus has released its first-quarter results Monday morning. The results slightly surpassed Street expectations from top to bottom lines. A full-year supervision for both revenue and EPS was reiterated by the company’s management.
The disruption of sales (about $2.5 million) was caused by the poor weather throughout the United States, which was not a surprising news. The management strongly believes that revenues will be recovered throughout the year. Globus’ domestic revenue has increased in high single digits, while adjusting with the issue. The management indicated that share taking was the result of such increase, and they believe that a significant opportunity exists that will go deeper within current accounts. The management also claimed that the considerable opportunity is dynamic and would boost their revenue growth in the future.
This quarter, the international sales growth has remained healthy, up by 43%. On top of that, the management believes that there is still room to initiate continued expansion within current territories. The drive for continued expansion should be sustained towards the end of 2015 or early 2016 as the company enters multi-hundred-million-dollar Japan market. Nonetheless, the company’s first-quarter results were a good indication and a motivation for revenue growth through multiple sources such as international expansion and share taking in the coming years.