Orthovita Reports Q4 EPS of $(0.05) vs. $0.00

Orthovita, Inc. VITA, reported financial results for the quarter and year ended December 31, 2010. Product sales for the quarter ended December 31, 2010 decreased 4% to $23.4 million compared to $24.4 million for the same period in 2009. Product sales for the year ended December 31, 2010 increased 2% to $94.7 million compared to $92.9 million for 2009.

Fourth quarter 2010 net loss was $3.7 million, or $0.05 per common share, compared to a net loss of $0.3 million, or less than $0.01 per common share, in the fourth quarter of 2009; full year 2010 net loss was $5.7 million, or $0.07 per common share, compared to a net loss of $3.9 million, or $0.05 per common share, in 2009. Fourth quarter 2010 and full-year 2010 net loss reflect non-cash inventory reserve charges of $3.5 million and $4.1 million, respectively, primarily for the Aliquot Delivery System used in vertebroplasty, and the non-cash write-off of a $0.5 million prepaid asset.