RTI Surgical announced a net loss of $3.1 million in the first quarter of 2014, up from the same period last year, when its net loss was $1.5 million.
The company also announced revenues of $60.7 million, up by nearly $20 million from its revenue of $40.4 million in Q1 2013.
The company earned a gross profit of $26.2 million in Q1, up from $19.2 million in the first quarter of 2013.
"As we mentioned on our fourth quarter and year end 2013 conference call, we expect modest sequential growth in the business over the next three quarters," said Brian K. Hutchison, president and CEO, in the press release. "Based on results from the first quarter, I am optimistic that we will meet our goals for the year. We are showing progress in our sports and spine recovery, gaining traction in surgical specialties and expanding distribution of map3 cellular allogeneic bone graft."
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