MiMedx Expects To Exceed High End Of Revenue Guidance Range; Lifts FY Outlook

(RTTNews) - MiMedx Group Inc. (MDXG) said Wednesday it will exceed the $16 million high end of its revenue guidance range for the third quarter.

On average, four analysts polled by Thomson Reuters expect revenue of $15.21 million for the quarter.

The company said its third-quarter revenue of about $16.1 million represents an increase of more than 100 percent year-over-year.

The company updated its revenue guidance for the full year 2013. At the end of the second quarter, MiMedx increased the lower end of its 2013 revenue range from $50 million to $54 million. MiMedx has now increased the lower end of its 2013 revenue guidance to $57 million with the upper end of the guidance remaining at $60 million.

Analysts expect the company to report revenue of $58.16 million for the year.

MiMedx makes patent protected regenerative biomaterials and bioimplants processed from human amniotic membrane.