MiMedx Group Inc. provided its outlook for the full year 2017 and reiterated its guidance for the fourth quarter and full year 2016.
The company expects to achieve adjusted EPS of 31 cents to 33 cents in 2017. GAAP EPS is projected to be in the range of 18 cents to 20 cents, and GAAP net earnings are expected to grow in excess of 95%.
Operating earnings for 2017 are forecast to grow 90% or more, and gross profit margins are projected to be in the range of 86% to 88%. Revenue for the year is expected to be between $302 million and $307 million, while adjusted EBITDA is expected to be in the range of 21% to 23% of revenue.
MiMedx plans to continue making investments in its international activities in 2017, expecting to see growth in foreign markets during the year, according to President and COO Bill Taylor. He believes that the company will see international growth in the year because of company's efforts in 2016 in establishing regulatory pathways and reimbursement methodology in certain foreign markets.
For the full year 2016, adjusted EPS is still expected to be in the range of 21 cents to 23 cents. GAAP EPS is expected to be in the range of 9 cents to 11 cents. Revenue for the year is still expected to be in the range of $244.5 million to $248 million.
Revenue for the fourth quarter is still expected to be in the range of $69.4 million to $72.9 million.