|
|
 | | | |
- close
- close
- close
- close
Suggest other news sources for this topic
WIKI ANALYSIS|
Error creating thumbnail: convert: unable to open image `/home/wikinvest/src_live_1/mediawiki/images/c/ce/IPO.jpg': No such file or directory @ blob.c/OpenBlob/2480. convert: missing an image filename `/home/wikinvest/src_live_1/mediawiki/images/thumb/c/ce/IPO.jpg/40px-IPO.jpg' @ convert.c/ConvertImageCommand/2800. |
This company completed an initial public offering (IPO) of its stock in 2010. View articles that reference this company. Recent IPOs: Globe Specialty Metals • LogMeIn • Invesco Mortgage Capital • Medidata • Chemspec |
Tornier (NASDAQ:TRNX) makes medical devices and focuses on those used to treat the musculoskeletal injuries to the shoulder, elbow, wrist, hand, ankle, and foot. The company sells its devices to these surgeons, known as extremity specialists. The company's headquarters are located in Europe and the company sells more than 70 product lines in 35 countries. In 2009, 44% of the company's revenue was generated outside of the US.[1]
Tornier sells its products in four main categories: upper extremity joints and trauma, lower extremity joints and trauma, sports medicine and orthobiologics, and large joints. In 2009, Tornier was the second largest producer of should joint replacement products in terms of sales. Tornier was also the largest producer of food and ankle joint replacement systems in terms of sales.[2] Tornier hopes to expand its international business by growing in other European markets it has yet to penetrate. In addition, it hopes to enter Japan and China where the extremity market segment is relatively underdeveloped.[3]
The company's initial public offering of stock on the NASDAQ occurred on February 2, 2011. The company offered 8.75M shares each for $19. This was at the low end of the initial price range for the deal was $19-$21. This placed the total offer value at $166M. The lead underwriters of the deal were BofA and J P Morgan Chase (JPM).[4]
Tornier's revenue for the full year 2009 was $201M. This was an increase of 14% over the 2008 figure of $177M. For the first 9 months of 2010, the company's total revenue was $166M. For the full year 2009, the company suffered a net loss of $55M. During the first 9 months of 2010, the company also reported a net loss of $31M. The losses were due, in part to high sales and marketing and Research & Development expenses. [5]
References
- ↑ TRNX S-1/A 2011 PROSPECTUS SUMMARY "Our Business" pg 1-2
- ↑ TRNX S-1/A 2011 PROSPECTUS SUMMARY "Our Business" pg 2
- ↑ TRNX S-1/A 2011 PROSPECTUS SUMMARY "Our Business Strategies" pg 3
- ↑ Renaissance Capital - IPO Home "Tornier prices IPO at $19, at low end of the range" 2 Feb 2011
- ↑ TRNX S-1/A 2011 PROSPECTUS SUMMARY "SUMMARY CONSOLIDATED FINANCIAL AND OPERATING DATA" pg 6
| |||||||
