MiMedx Q1 Revenue Misses Estimate

(RTTNews) - MiMedx Group, Inc. (MDXG) said Monday that it recorded first quarter revenue of $40.8 million, a $21.2 million or 108% increase over 2014 first quarter revenue of $19.6 million.

Analysts polled by Thomson Reuters expected the company to post revenue of $41.06 million for the first quarter.

Parker Petit, Chairman and CEO, said, "We are pleased to announce our fourteenth consecutive quarter of meeting or exceeding revenue guidance. We had solid year over year growth from wound care business as well as our surgical, sports medicine and OEM segments. Our expanded focus on surgical applications is generating very positive results and our momentum continues to build in this market opportunity."

The company reiterated its previously full year 2015 revenue guidance of $175.0 million to $190.0 million. Analysts currently expect the company to post revenue of $186.24 million for the full year 2015.

The company plans to issue its second quarter revenue guidance when it releases its first quarter financial results on April 28.