ArthroCare reports year-on-year growth in third quarter

ArthroCare has published its financial results for the third quarter of 2012, reporting a three-month revenue total of $86.9 million (53.76 million pounds).

This represents a year-on-year increase of 4.4 percent, while product sales rose by four percent during the same timeframe to reach a sum of $82.6 million.

Within its sports medicine category, ArthroCare saw positive growth for its US sales, thanks to the launch of new Coblation and fixation product introductions and rising demand for knee wands.

The firm also continues to benefit from strong contract manufacturing product revenues through its supply agreement with Smith and Nephew, while worldwide sales of otorhinolaryngology products such as Rapid Rhino also increased.

As such, net income available to common stockholders for the third quarter came to $9.1 million, or the equivalent of $0.27 per diluted share.

ArthroCare was established in California in 1993 and has become a leading international medical technology firm, thanks to the successful expansion of its Coblation toolset across a variety of soft tissue applications.