UPDATE: Bacterin International Posts Q4 Loss, Issues Strong Revenue Forecast

Shares of

gained over 3% in after-hours trading after the company reported financial results for the fourth quarter. The Belgrade, Montana-based company posted a quarterly net loss of $3.3 million, or $0.49 per share, versus a year-ago loss of $4.2 million, or $0.83 per share. Its revenue climbed 10% to around $9.1 million in the fourth quarter, versus approximately $8.3 million, in the year-ago period. However, analysts were expecting a loss of $0.35 per share on revenue of $8.90 million. Gross profit for the quarter increased to $5.8 million or 63.5% of revenue, versus $4.1 million or 49.5% of revenue, in the year-ago quarter. Loss from operations before impairment declined to around $1.6 million, versus a year-ago loss of $2.8 million. Sales and marketing expenses rose to $4.5 million from $4.0 million, while general and administrative expenses shrank to $2.2 million from $2.6 million. On December 31, 2014, the company had $8.9 million in cash, cash equivalents and net accounts receivable. "We have transitioned from a turn around project to a revenue growth story," said Mr. Goldberger. "New sales leadership joined the company in the second half of 2014 and we plan to continue increasing the number of sales assets representing Bacterin products in the field throughout 2015 in order to accelerate our future revenue growth." Bacterin projects FY15 sales of $40 million to $42 million, versus analysts' estimates of $39.3 million. Bacterin shares rose 3.47% to $3.88 in after-hours trading.