Tornier trades higher on solid Q2 report; upbeat guidance


Tornier (TRNX +19.9%) soars after its Q2 top line came in above estimates.

Revenue reached $78.1M compared to Q212 revenue of $66M, an increase of 18.4%.

Revenue from its extremities product categories totaled $65.6M compared to $53.2M for the prior year period, an increase of 23.2%.

For Q3 2013, the company projects revenue to be in the range of $67M to $71M, representing growth of 15.5% to 22.4% over Q312.

Q3 adjusted EBITDA is expected to be in the range of $4.5M to $6.5M, or 6.6% to 9.0% of reported revenue.

The company tweaks its previous FY13 revenue guidance, narrowing the range to around $312M to $320M.

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