Globus profit up 53 percent in 4th quarter

Posted: February 28, 2013

Net income rose 53 percent in the fourth quarter for Globus Medical Inc., an Audubon maker of spinal implants, while sales increased by 14 percent.

Globus, which went public in August, earned $20.8 million, or 22 cents per share, on sales of $100.5 million for the three months ended Dec. 31.

For the fourth quarter of 2011, the medical device company reported net income of $13.6 million, or 15 cents per share, on sales of $88.0 million.

The company announced its results after the stock market had closed Wednesday. Globus shares finished the trading session up 16 cents to $13.82.    - Mike Armstrong

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