Bacterin International Holdings Inc (NYSEMKT:BONE), the small capped drug maker saw its market valuation balloon upwards during trading on 20th March, on the back of its 4Q results announcements on 19th March, after markets closed and the publication of its research data on its treatment procedure OsteoSponge® in Orthopedics Today. The treatment is for alleviating the suffering of patients suffering from “Foot and Ankle Arthrodeses”.
Full Year Financial Highlights
The $48 million market capped drug firm reported a total of $33.1 million as revenue from its full year 2013 operations. This resulted in net loss of $12.7 million for the reporting period. This translated to a 27 cents loss per common share for 2013.From its fourth quarter operations, the company was able to generate revenue of $8.3 million which was an slight 1.7 percent increase in comparison to 4Q12. For the 4Q, its gross profits from operations were $4.1 million.
Laser Sharp Focus By Sales Team
Explaining the hardnosed approach he has taken to streamline sales and to derive the benefits to share holders by insisting on faster execution of their go to market plans, Bacterin International Holdings Inc (NYSEMKT:BONE), President, Chief Executive Officer and Director Daniel S. Goldberger has been quoted to have said that, “Since joining the Company, one of my top priorities has been to strengthen our sales force. We have worked diligently to recognize and reward success and learn from failure. We had 65 employees in our sales function in Q4 2012 responsible for about $8 million in sales. Only 25 of those employees are still with the Company, but they were responsible for $8.1 million in sales”.
By welding the stick and carrot approach, the small capped drug maker has managed to increase productivity of the sales team by empowering them to leverage their distributor network, thereby increasing its cash flow situation dramatically.