We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Globus Medical Inc | NYSE:GMED | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
-1.68 | -3.23% | 50.27 | 52.56 | 50.00 | 52.48 | 1,755,937 | 22:30:00 |
DELAWARE
|
|
04-3744954
|
(State or other jurisdiction of incorporation or organization)
|
|
(I.R.S. Employer Identification No.)
|
|
|
|
2560 General Armistead Avenue, Audubon, PA 19403
|
|
(610) 930-1800
|
(Address of principal executive offices) (Zip Code)
|
|
(Registrant’s telephone number, including Area Code)
|
Large Accelerated Filer
|
x
|
Accelerated Filer
|
¨
|
Non-accelerated Filer
(Do not check if a smaller reporting company)
|
¨
|
Smaller Reporting Company
|
¨
|
Emerging Growth Company
|
¨
|
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
|
o
|
|
|
Page
|
|
||
|
|
|
|
||
|
|
|
|
Condensed
Consolidated Balance Sheets
(Unaudited)
|
|
|
September 30, 2017 and December 31, 2016
|
|
|
|
|
|
Condensed
Consolidated Statements of Income
(Unaudited)
|
|
|
Three and nine months ended September 30, 2017 and September 30, 2016
|
|
|
|
|
|
Condensed
Consolidated Statements of Comprehensive Income
(Unaudited)
|
|
|
Three and nine months ended September 30, 2017 and September 30, 2016
|
|
|
|
|
|
Condensed
Consolidated Statements of Cash Flows
(Unaudited)
|
|
|
Nine months ended September 30, 2017 and September 30, 2016
|
|
|
|
|
|
Notes to Condensed
Consolidated Financial Statements
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
Item 4.
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
|
|
|
(In thousands, except par value)
|
September 30,
2017 |
|
December 31,
2016 |
||||
ASSETS
|
|
|
|
||||
Current assets:
|
|
|
|
||||
Cash and cash equivalents
|
$
|
154,855
|
|
|
$
|
132,639
|
|
Restricted cash
|
—
|
|
|
477
|
|
||
Short-term marketable securities
|
182,804
|
|
|
157,673
|
|
||
Accounts receivable, net of allowances of $3,725 and $2,771, respectively
|
94,484
|
|
|
91,983
|
|
||
Inventories
|
111,462
|
|
|
112,692
|
|
||
Prepaid expenses and other current assets
|
9,430
|
|
|
14,502
|
|
||
Income taxes receivable
|
10,527
|
|
|
3,800
|
|
||
Total current assets
|
563,562
|
|
|
513,766
|
|
||
Property and equipment, net of accumulated depreciation of $191,386 and $166,711, respectively
|
134,214
|
|
|
124,229
|
|
||
Long-term marketable securities
|
58,884
|
|
|
60,444
|
|
||
Note receivable
|
29,167
|
|
|
30,000
|
|
||
Intangible assets, net
|
87,653
|
|
|
61,706
|
|
||
Goodwill
|
119,273
|
|
|
105,926
|
|
||
Other assets
|
8,280
|
|
|
928
|
|
||
Deferred income taxes
|
36,127
|
|
|
30,638
|
|
||
Total assets
|
$
|
1,037,160
|
|
|
$
|
927,637
|
|
|
|
|
|
||||
LIABILITIES AND EQUITY
|
|
|
|
||||
Current liabilities:
|
|
|
|
||||
Accounts payable
|
$
|
16,553
|
|
|
$
|
17,472
|
|
Accrued expenses
|
46,609
|
|
|
46,401
|
|
||
Income taxes payable
|
2,023
|
|
|
1,911
|
|
||
Business acquisition liabilities
|
9,742
|
|
|
14,108
|
|
||
Total current liabilities
|
74,927
|
|
|
79,892
|
|
||
Business acquisition liabilities, net of current portion
|
10,778
|
|
|
5,972
|
|
||
Deferred income taxes
|
14,405
|
|
|
7,876
|
|
||
Other liabilities
|
1,786
|
|
|
1,819
|
|
||
Total liabilities
|
101,896
|
|
|
95,559
|
|
||
Commitments and contingencies (Note 13)
|
|
|
|
|
|
||
Equity:
|
|
|
|
||||
Class A common stock; $0.001 par value. Authorized 500,000 shares; issued and outstanding 72,489 and 72,052 shares at September 30, 2017 and December 31, 2016, respectively
|
72
|
|
|
72
|
|
||
Class B common stock; $0.001 par value. Authorized 275,000 shares; issued and outstanding 23,878 at September 30, 2017 and December 31, 2016, respectively
|
24
|
|
|
24
|
|
||
Additional paid-in capital
|
229,475
|
|
|
211,725
|
|
||
Accumulated other comprehensive loss
|
(6,178
|
)
|
|
(8,642
|
)
|
||
Retained earnings
|
711,871
|
|
|
628,899
|
|
||
Total equity
|
935,264
|
|
|
832,078
|
|
||
Total liabilities and equity
|
$
|
1,037,160
|
|
|
$
|
927,637
|
|
|
Three Months Ended
|
|
Nine Months Ended
|
||||||||||||
(In thousands, except per share amounts)
|
September 30,
2017 |
|
September 30,
2016 |
|
September 30,
2017 |
|
September 30,
2016 |
||||||||
Sales
|
$
|
151,744
|
|
|
$
|
135,651
|
|
|
$
|
459,943
|
|
|
$
|
412,404
|
|
Cost of goods sold
|
36,798
|
|
|
31,453
|
|
|
109,597
|
|
|
95,703
|
|
||||
Gross profit
|
114,946
|
|
|
104,198
|
|
|
350,346
|
|
|
316,701
|
|
||||
|
|
|
|
|
|
|
|
||||||||
Operating expenses:
|
|
|
|
|
|
|
|
||||||||
Research and development
|
10,887
|
|
|
10,265
|
|
|
32,266
|
|
|
30,889
|
|
||||
Selling, general and administrative
|
63,362
|
|
|
54,207
|
|
|
194,859
|
|
|
161,317
|
|
||||
Provision for litigation
|
2,537
|
|
|
—
|
|
|
2,780
|
|
|
3,056
|
|
||||
Amortization of intangibles
|
2,080
|
|
|
884
|
|
|
5,671
|
|
|
1,673
|
|
||||
Acquisition related costs
|
285
|
|
|
1,192
|
|
|
1,290
|
|
|
1,347
|
|
||||
Total operating expenses
|
79,151
|
|
|
66,548
|
|
|
236,866
|
|
|
198,282
|
|
||||
|
|
|
|
|
|
|
|
||||||||
Operating income
|
35,795
|
|
|
37,650
|
|
|
113,480
|
|
|
118,419
|
|
||||
|
|
|
|
|
|
|
|
||||||||
Other income, net
|
|
|
|
|
|
|
|
||||||||
Interest income, net
|
1,738
|
|
|
795
|
|
|
4,746
|
|
|
1,893
|
|
||||
Foreign currency transaction gain/(loss)
|
(315
|
)
|
|
284
|
|
|
681
|
|
|
83
|
|
||||
Other income
|
139
|
|
|
126
|
|
|
421
|
|
|
407
|
|
||||
Total other income, net
|
1,562
|
|
|
1,205
|
|
|
5,848
|
|
|
2,383
|
|
||||
|
|
|
|
|
|
|
|
||||||||
Income before income taxes
|
37,357
|
|
|
38,855
|
|
|
119,328
|
|
|
120,802
|
|
||||
Income tax provision
|
11,766
|
|
|
12,628
|
|
|
36,356
|
|
|
40,759
|
|
||||
|
|
|
|
|
|
|
|
||||||||
Net income
|
$
|
25,591
|
|
|
$
|
26,227
|
|
|
$
|
82,972
|
|
|
$
|
80,043
|
|
|
|
|
|
|
|
|
|
||||||||
Earnings per share:
|
|
|
|
|
|
|
|
||||||||
Basic
|
$
|
0.27
|
|
|
$
|
0.27
|
|
|
$
|
0.86
|
|
|
$
|
0.84
|
|
Diluted
|
$
|
0.26
|
|
|
$
|
0.27
|
|
|
$
|
0.85
|
|
|
$
|
0.83
|
|
Weighted average shares outstanding:
|
|
|
|
|
|
|
|
||||||||
Basic
|
96,318
|
|
|
95,739
|
|
|
96,160
|
|
|
95,575
|
|
||||
Dilutive stock options
|
1,531
|
|
|
753
|
|
|
1,447
|
|
|
829
|
|
||||
Diluted
|
97,849
|
|
|
96,492
|
|
|
97,607
|
|
|
96,404
|
|
||||
|
|
|
|
|
|
|
|
||||||||
Anti-dilutive stock options excluded from weighted average calculation
|
2,611
|
|
|
5,457
|
|
|
3,462
|
|
|
5,378
|
|
|
Three Months Ended
|
|
Nine Months Ended
|
||||||||||||
(In thousands)
|
September 30,
2017 |
|
September 30,
2016 |
|
September 30,
2017 |
|
September 30,
2016 |
||||||||
Net income
|
$
|
25,591
|
|
|
$
|
26,227
|
|
|
$
|
82,972
|
|
|
$
|
80,043
|
|
Other comprehensive income/(loss):
|
|
|
|
|
|
|
|
||||||||
Unrealized gain/(loss) on marketable securities, net of tax
|
7
|
|
|
(165
|
)
|
|
150
|
|
|
119
|
|
||||
Foreign currency translation gain/(loss)
|
(313
|
)
|
|
141
|
|
|
2,314
|
|
|
79
|
|
||||
Total other comprehensive income/(loss)
|
(306
|
)
|
|
(24
|
)
|
|
2,464
|
|
|
198
|
|
||||
Comprehensive income
|
$
|
25,285
|
|
|
$
|
26,203
|
|
|
$
|
85,436
|
|
|
$
|
80,241
|
|
|
Nine Months Ended
|
||||||
(In thousands)
|
September 30,
2017 |
|
September 30,
2016 |
||||
Cash flows from operating activities:
|
|
|
|
||||
Net income
|
$
|
82,972
|
|
|
$
|
80,043
|
|
Adjustments to reconcile net income to net cash provided by operating activities:
|
|
|
|
||||
Depreciation and amortization
|
33,773
|
|
|
21,536
|
|
||
Amortization of premium on marketable securities
|
2,258
|
|
|
3,067
|
|
||
Write-down for excess and obsolete inventories
|
8,158
|
|
|
6,919
|
|
||
Stock-based compensation expense
|
10,659
|
|
|
8,437
|
|
||
Allowance for doubtful accounts
|
1,135
|
|
|
320
|
|
||
Change in fair value of business acquisition liabilities
|
1,011
|
|
|
—
|
|
||
Change in deferred income taxes
|
815
|
|
|
(1,356
|
)
|
||
(Increase)/decrease in:
|
|
|
|
||||
Restricted cash
|
477
|
|
|
25,642
|
|
||
Accounts receivable
|
(2,200
|
)
|
|
3,111
|
|
||
Inventories
|
(6,956
|
)
|
|
(6,609
|
)
|
||
Prepaid expenses and other assets
|
(974
|
)
|
|
7,332
|
|
||
Increase/(decrease) in:
|
|
|
|
||||
Accounts payable
|
(344
|
)
|
|
(3,426
|
)
|
||
Accrued expenses and other liabilities
|
(9,377
|
)
|
|
(30,178
|
)
|
||
Income taxes payable/receivable
|
(6,709
|
)
|
|
6,643
|
|
||
Net cash provided by operating activities
|
114,698
|
|
|
121,481
|
|
||
|
|
|
|
||||
Cash flows from investing activities:
|
|
|
|
||||
Purchases of marketable securities
|
(203,609
|
)
|
|
(223,623
|
)
|
||
Maturities of marketable securities
|
166,453
|
|
|
211,138
|
|
||
Sales of marketable securities
|
11,566
|
|
|
47,109
|
|
||
Purchases of property and equipment
|
(37,878
|
)
|
|
(26,701
|
)
|
||
Issuance of note receivable
|
—
|
|
|
(25,000
|
)
|
||
Acquisition of businesses, net of cash acquired
|
(31,501
|
)
|
|
(76,068
|
)
|
||
Net cash used in investing activities
|
(94,969
|
)
|
|
(93,145
|
)
|
||
|
|
|
|
||||
Cash flows from financing activities:
|
|
|
|
||||
Payment of business acquisition liabilities
|
(5,234
|
)
|
|
(400
|
)
|
||
Proceeds from exercise of stock options
|
6,943
|
|
|
4,428
|
|
||
Net cash provided by financing activities
|
1,709
|
|
|
4,028
|
|
||
|
|
|
|
||||
Effect of foreign exchange rate on cash
|
778
|
|
|
(2,324
|
)
|
||
|
|
|
|
||||
Net increase in cash and cash equivalents
|
22,216
|
|
|
30,040
|
|
||
Cash and cash equivalents, beginning of period
|
132,639
|
|
|
60,152
|
|
||
Cash and cash equivalents, end of period
|
$
|
154,855
|
|
|
$
|
90,192
|
|
|
|
|
|
||||
Supplemental disclosures of cash flow information:
|
|
|
|
||||
Interest paid
|
34
|
|
|
23
|
|
||
Income taxes paid
|
$
|
49,008
|
|
|
$
|
37,009
|
|
|
Three Months Ended
|
|
Nine Months Ended
|
||||
(pro forma, in thousands, except per share amounts)
|
September 30,
2016 |
|
September 30,
2016 |
||||
Net sales
|
$
|
143,577
|
|
|
$
|
444,109
|
|
Net income
|
27,393
|
|
|
84,101
|
|
||
|
|
|
|
||||
Earnings per share:
|
|
|
|
||||
Basic
|
$
|
0.29
|
|
|
$
|
0.89
|
|
Diluted
|
$
|
0.28
|
|
|
$
|
0.88
|
|
|
|
|
September 30, 2017
|
|||||||||||
(In thousands)
|
Weighted
Average Amortization Period (in years) |
|
Gross
Carrying Amount |
|
Accumulated Amortization
|
|
Intangible
Assets, net |
|||||||
In-process research & development
|
—
|
|
|
$
|
25,351
|
|
|
$
|
—
|
|
|
$
|
25,351
|
|
Supplier network
|
10.0
|
|
4,000
|
|
|
(1,167
|
)
|
|
2,833
|
|
||||
Customer relationships & other intangibles
|
6.8
|
|
41,415
|
|
|
(10,095
|
)
|
|
31,320
|
|
||||
Developed Technology
|
14.8
|
|
21,088
|
|
|
(260
|
)
|
|
20,828
|
|
||||
Patents
|
16.9
|
|
8,221
|
|
|
(900
|
)
|
|
7,321
|
|
||||
Total intangible assets
|
|
|
$
|
100,075
|
|
|
$
|
(12,422
|
)
|
|
$
|
87,653
|
|
|
|
|
December 31, 2016
|
|||||||||||
(In thousands)
|
Weighted
Average Amortization Period (in years) |
|
Gross
Carrying Amount |
|
Accumulated Amortization
|
|
Intangible
Assets, net |
|||||||
In-process research & development
|
—
|
|
|
$
|
20,460
|
|
|
$
|
—
|
|
|
$
|
20,460
|
|
Supplier network
|
10.0
|
|
4,000
|
|
|
(867
|
)
|
|
3,133
|
|
||||
Customer relationships & other intangibles
|
6.8
|
|
40,308
|
|
|
(5,179
|
)
|
|
35,129
|
|
||||
Developed Technology
|
7.0
|
|
628
|
|
|
(22
|
)
|
|
606
|
|
||||
Patents
|
16.1
|
|
3,035
|
|
|
(657
|
)
|
|
2,378
|
|
||||
Total intangible assets
|
|
|
$
|
68,431
|
|
|
$
|
(6,725
|
)
|
|
$
|
61,706
|
|
|
|
|
September 30, 2017
|
||||||||||||||
(In thousands)
|
Contractual Maturity
(in years)
|
|
Amortized Cost
|
|
Gross Unrealized Gains
|
|
Gross Unrealized Losses
|
|
Fair Value
|
||||||||
Short-term:
|
|
|
|
|
|
|
|
|
|
||||||||
Municipal bonds
|
Less than 1
|
|
$
|
64,428
|
|
|
$
|
13
|
|
|
$
|
(18
|
)
|
|
$
|
64,423
|
|
Corporate debt securities
|
Less than 1
|
|
51,368
|
|
|
10
|
|
|
(25
|
)
|
|
51,353
|
|
||||
Commercial paper
|
Less than 1
|
|
61,651
|
|
|
4
|
|
|
(6
|
)
|
|
61,649
|
|
||||
Securities of U.S. government-sponsored agencies
|
Less than 1
|
|
5,001
|
|
|
—
|
|
|
(20
|
)
|
|
4,981
|
|
||||
Asset-backed securities
|
Less than 1
|
|
398
|
|
|
—
|
|
|
—
|
|
|
398
|
|
||||
Total short-term marketable securities
|
|
|
$
|
182,846
|
|
|
$
|
27
|
|
|
$
|
(69
|
)
|
|
$
|
182,804
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Long-term:
|
|
|
|
|
|
|
|
|
|
||||||||
Municipal bonds
|
1-2
|
|
$
|
5,993
|
|
|
$
|
7
|
|
|
$
|
(2
|
)
|
|
$
|
5,998
|
|
Corporate debt securities
|
1-2
|
|
33,946
|
|
|
29
|
|
|
(13
|
)
|
|
33,962
|
|
||||
Asset-backed securities
|
1-2
|
|
18,928
|
|
|
—
|
|
|
(4
|
)
|
|
18,924
|
|
||||
Securities of U.S. government-sponsored agencies
|
1-2
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Total long-term marketable securities
|
|
|
$
|
58,867
|
|
|
$
|
36
|
|
|
$
|
(19
|
)
|
|
$
|
58,884
|
|
|
|
|
December 31, 2016
|
||||||||||||||
(In thousands)
|
Contractual Maturity
(in years)
|
|
Amortized Cost
|
|
Gross Unrealized Gains
|
|
Gross Unrealized Losses
|
|
Fair Value
|
||||||||
Short-term:
|
|
|
|
|
|
|
|
|
|
||||||||
Municipal bonds
|
Less than 1
|
|
$
|
114,826
|
|
|
$
|
2
|
|
|
$
|
(88
|
)
|
|
$
|
114,740
|
|
Corporate debt securities
|
Less than 1
|
|
36,020
|
|
|
21
|
|
|
(4
|
)
|
|
36,037
|
|
||||
Commercial paper
|
Less than 1
|
|
6,898
|
|
|
—
|
|
|
(2
|
)
|
|
6,896
|
|
||||
Total short-term marketable securities
|
|
|
$
|
157,744
|
|
|
$
|
23
|
|
|
$
|
(94
|
)
|
|
$
|
157,673
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Long-term:
|
|
|
|
|
|
|
|
|
|
||||||||
Municipal bonds
|
1-2
|
|
$
|
30,207
|
|
|
$
|
—
|
|
|
$
|
(137
|
)
|
|
$
|
30,070
|
|
Corporate debt securities
|
1-2
|
|
15,278
|
|
|
9
|
|
|
(40
|
)
|
|
15,247
|
|
||||
Asset-backed securities
|
1-2
|
|
10,146
|
|
|
6
|
|
|
(1
|
)
|
|
10,151
|
|
||||
Securities of U.S. government-sponsored agencies
|
1-2
|
|
5,002
|
|
|
—
|
|
|
(26
|
)
|
|
4,976
|
|
||||
Total long-term marketable securities
|
|
|
$
|
60,633
|
|
|
$
|
15
|
|
|
$
|
(204
|
)
|
|
$
|
60,444
|
|
|
Balance at
|
|
|
|
|
|
|
||||||||
(In thousands)
|
September 30,
2017 |
|
Level 1
|
|
Level 2
|
|
Level 3
|
||||||||
Assets
|
|
|
|
|
|
|
|
||||||||
Cash equivalents
|
$
|
70,713
|
|
|
$
|
—
|
|
|
$
|
70,713
|
|
|
$
|
—
|
|
Municipal bonds
|
70,421
|
|
|
—
|
|
|
70,421
|
|
|
—
|
|
||||
Corporate debt securities
|
85,315
|
|
|
—
|
|
|
85,315
|
|
|
—
|
|
||||
Commercial paper
|
61,649
|
|
|
—
|
|
|
61,649
|
|
|
—
|
|
||||
Asset-backed securities
|
19,322
|
|
|
—
|
|
|
19,322
|
|
|
—
|
|
||||
Securities of U.S. government-sponsored agencies
|
4,981
|
|
|
—
|
|
|
4,981
|
|
|
—
|
|
||||
|
|
|
|
|
|
|
|
||||||||
Liabilities
|
|
|
|
|
|
|
|
||||||||
Contingent consideration
|
20,521
|
|
|
—
|
|
|
—
|
|
|
20,521
|
|
|
Balance at
|
|
|
|
|
|
|
||||||||
(In thousands)
|
December 31,
2016 |
|
Level 1
|
|
Level 2
|
|
Level 3
|
||||||||
Assets
|
|
|
|
|
|
|
|
||||||||
Cash equivalents
|
$
|
76,157
|
|
|
$
|
957
|
|
|
$
|
75,200
|
|
|
$
|
—
|
|
Municipal bonds
|
144,810
|
|
|
—
|
|
|
144,810
|
|
|
—
|
|
||||
Corporate debt securities
|
51,284
|
|
|
—
|
|
|
51,284
|
|
|
—
|
|
||||
Commercial paper
|
6,896
|
|
|
—
|
|
|
6,896
|
|
|
—
|
|
||||
Asset-backed securities
|
10,151
|
|
|
—
|
|
|
10,151
|
|
|
—
|
|
||||
Securities of U.S. government-sponsored agencies
|
4,976
|
|
|
—
|
|
|
4,976
|
|
|
—
|
|
||||
|
|
|
|
|
|
|
|
||||||||
Liabilities
|
|
|
|
|
|
|
|
||||||||
Contingent consideration
|
19,849
|
|
|
—
|
|
|
—
|
|
|
19,849
|
|
|
|
Fair Value at
|
|
|
|
|
|
|
|
|
||
(In thousands)
|
|
September 30,
2017 |
|
Valuation technique
|
|
Unobservable input
|
|
Range
|
||||
|
|
|
|
|
|
Discount rate
|
|
6.7%
|
-
|
8.5%
|
||
Revenue-based payments
|
|
$
|
10,985
|
|
|
Discounted cash flow
|
|
Probability of payment
|
|
87.0%
|
-
|
100.0%
|
|
|
|
|
|
|
Projected year of payment
|
|
2017
|
-
|
2029
|
||
|
|
|
|
|
|
|
|
|
|
|
||
|
|
|
|
|
|
|
|
|
|
|
||
|
|
|
|
|
|
Discount rate
|
|
4.4%
|
-
|
13.5%
|
||
Milestone-based payments
|
|
$
|
9,536
|
|
|
Discounted cash flow
|
|
Probability of payment
|
|
100.0%
|
||
|
|
|
|
|
|
Projected year of payment
|
|
2017
|
-
|
2018
|
|
Three Months Ended
|
|
Nine Months Ended
|
||||||||||||
(In thousands)
|
September 30,
2017 |
|
September 30,
2016 |
|
September 30,
2017 |
|
September 30,
2016 |
||||||||
Beginning balance
|
$
|
20,339
|
|
|
$
|
22,531
|
|
|
$
|
19,849
|
|
|
$
|
26,617
|
|
Purchase price contingent consideration
|
—
|
|
|
—
|
|
|
4,871
|
|
|
—
|
|
||||
Currency translation (gain) loss
|
(15
|
)
|
|
—
|
|
|
27
|
|
|
—
|
|
||||
Contingent payments
|
—
|
|
|
(2
|
)
|
|
(5,234
|
)
|
|
(5,003
|
)
|
||||
Non-cash settlement of certain contingent consideration
|
—
|
|
|
(3,110
|
)
|
|
—
|
|
|
(4,632
|
)
|
||||
Changes in fair value of contingent consideration
|
197
|
|
|
259
|
|
|
1,008
|
|
|
2,696
|
|
||||
Ending balance
|
$
|
20,521
|
|
|
$
|
19,678
|
|
|
$
|
20,521
|
|
|
$
|
19,678
|
|
(In thousands)
|
September 30,
2017 |
|
December 31, 2016
|
||||
Raw materials
|
$
|
20,454
|
|
|
$
|
13,257
|
|
Work in process
|
10,494
|
|
|
10,747
|
|
||
Finished goods
|
80,514
|
|
|
88,688
|
|
||
Total inventories
|
$
|
111,462
|
|
|
$
|
112,692
|
|
(In thousands)
|
September 30,
2017 |
|
December 31,
2016 |
||||
Compensation and other employee-related costs
|
$
|
22,599
|
|
|
$
|
23,214
|
|
Legal
|
4,150
|
|
|
734
|
|
||
Accrued non-income taxes
|
6,071
|
|
|
6,946
|
|
||
Royalties
|
2,360
|
|
|
4,671
|
|
||
Other
|
11,429
|
|
|
10,836
|
|
||
Total accrued expenses
|
$
|
46,609
|
|
|
$
|
46,401
|
|
(Shares)
|
Class A Common
|
|
Class B Common
|
|
Class C Common
|
|
Total
|
|||
September 30, 2017
|
72,488,894
|
|
|
23,877,556
|
|
|
—
|
|
96,366,450
|
|
December 31, 2016
|
72,052,360
|
|
|
23,877,556
|
|
|
—
|
|
95,929,916
|
|
|
Nine Months Ended
|
||
(In thousands)
|
September 30,
2017 |
||
Total equity, beginning of period
|
$
|
832,078
|
|
Net income
|
82,972
|
|
|
Stock-based compensation cost
|
10,807
|
|
|
Exercise of stock options
|
6,943
|
|
|
Other comprehensive income
|
2,464
|
|
|
Total equity, end of period
|
$
|
935,264
|
|
(In thousands)
|
|
|
Unrealized gain/(loss) on marketable securities, net of tax
|
|
Foreign currency translation adjustments
|
|
Accumulated other comprehensive loss
|
||||||
Accumulated other comprehensive loss, net of tax, at December 31, 2016
|
$
|
(167
|
)
|
|
$
|
(8,475
|
)
|
|
$
|
(8,642
|
)
|
||
Other comprehensive income before reclassifications
|
|
|
152
|
|
|
2,314
|
|
|
2,466
|
|
|||
Amounts reclassified from accumulated other comprehensive income, net of tax
|
|
(2
|
)
|
|
—
|
|
|
(2
|
)
|
||||
Other comprehensive income, net of tax
|
|
|
150
|
|
|
2,314
|
|
|
2,464
|
|
|||
Accumulated other comprehensive loss, net of tax, at September 30, 2017
|
$
|
(17
|
)
|
|
$
|
(6,161
|
)
|
|
$
|
(6,178
|
)
|
(In thousands)
|
|
|
Unrealized gain/(loss) on marketable securities, net of tax
|
|
Foreign currency translation adjustments
|
|
Accumulated other comprehensive loss
|
||||||
Accumulated other comprehensive loss, net of tax, at December 31, 2015
|
$
|
(119
|
)
|
|
$
|
(1,839
|
)
|
|
$
|
(1,958
|
)
|
||
Other comprehensive income before reclassifications
|
|
|
95
|
|
|
79
|
|
|
174
|
|
|||
Amounts reclassified from accumulated other comprehensive income, net of tax
|
|
24
|
|
|
—
|
|
|
24
|
|
||||
Other comprehensive income, net of tax
|
|
|
119
|
|
|
79
|
|
|
198
|
|
|||
Accumulated other comprehensive loss, net of tax, at September 30, 2016
|
$
|
—
|
|
|
$
|
(1,760
|
)
|
|
$
|
(1,760
|
)
|
|
Three Months Ended
|
|
Nine Months Ended
|
||||||||||||
|
September 30,
2017 |
|
September 30,
2016 |
|
September 30,
2017 |
|
September 30,
2016 |
||||||||
Weighted average grant date fair value per share
|
$
|
9.66
|
|
|
$
|
7.40
|
|
|
$
|
8.81
|
|
|
$
|
7.76
|
|
|
Option Shares (thousands)
|
|
Weighted average exercise price
|
|
Weighted average remaining contractual life (years)
|
|
Aggregate intrinsic value (thousands)
|
|||||
Outstanding at December 31, 2016
|
7,741
|
|
|
$
|
21.08
|
|
|
|
|
|
||
Granted
|
2,223
|
|
|
27.62
|
|
|
|
|
|
|||
Exercised
|
(437
|
)
|
|
16.07
|
|
|
|
|
|
|||
Forfeited
|
(410
|
)
|
|
23.79
|
|
|
|
|
|
|||
Outstanding at September 30, 2017
|
9,117
|
|
|
$
|
22.79
|
|
|
7.5
|
|
$
|
63,708
|
|
Exercisable at September 30, 2017
|
4,269
|
|
|
$
|
19.46
|
|
|
6.1
|
|
$
|
43,821
|
|
Expected to vest at September 30, 2017
|
4,849
|
|
|
$
|
25.73
|
|
|
8.7
|
|
$
|
19,887
|
|
|
Three Months Ended
|
|
Nine Months Ended
|
||||||||||||
(In thousands)
|
September 30,
2017 |
|
September 30,
2016 |
|
September 30,
2017 |
|
September 30,
2016 |
||||||||
Intrinsic value of stock options exercised
|
$
|
1,264
|
|
|
$
|
2,760
|
|
|
$
|
6,024
|
|
|
$
|
7,386
|
|
|
|
|
|
|
|
|
|
||||||||
Stock-based compensation expense
|
$
|
3,596
|
|
|
$
|
2,747
|
|
|
$
|
10,659
|
|
|
$
|
8,437
|
|
Net stock-based compensation capitalized into inventory
|
50
|
|
|
65
|
|
|
148
|
|
|
205
|
|
||||
Total stock-based compensation cost
|
$
|
3,646
|
|
|
$
|
2,812
|
|
|
$
|
10,807
|
|
|
$
|
8,642
|
|
|
Three Months Ended
|
|
Nine Months Ended
|
||||||||
|
September 30,
2017 |
|
September 30,
2016 |
|
September 30,
2017 |
|
September 30,
2016 |
||||
Effective income tax rate
|
31.5
|
%
|
|
32.5
|
%
|
|
30.5
|
%
|
|
33.7
|
%
|
|
Three Months Ended
|
|
Nine Months Ended
|
||||||||||||
(In thousands)
|
September 30,
2017 |
|
September 30,
2016 |
|
September 30,
2017 |
|
September 30,
2016 |
||||||||
United States
|
$
|
125,933
|
|
|
$
|
120,473
|
|
|
$
|
381,870
|
|
|
$
|
372,749
|
|
International
|
25,811
|
|
|
15,178
|
|
|
78,073
|
|
|
39,655
|
|
||||
Total sales
|
$
|
151,744
|
|
|
$
|
135,651
|
|
|
$
|
459,943
|
|
|
$
|
412,404
|
|
|
Three Months Ended
|
|
Nine Months Ended
|
||||||||||||
(In thousands)
|
September 30,
2017 |
|
September 30,
2016 |
|
September 30,
2017 |
|
September 30,
2016 |
||||||||
Innovative Fusion
|
$
|
80,202
|
|
|
$
|
68,498
|
|
|
$
|
241,940
|
|
|
$
|
207,985
|
|
Disruptive Technology
|
71,542
|
|
|
67,153
|
|
|
218,003
|
|
|
204,419
|
|
||||
Total sales
|
$
|
151,744
|
|
|
$
|
135,651
|
|
|
$
|
459,943
|
|
|
$
|
412,404
|
|
|
Three Months Ended
|
|
Change
|
|||||||||||
(In thousands, except percentages)
|
September 30,
2017 |
|
September 30,
2016 |
|
$
|
|
%
|
|||||||
Innovative Fusion
|
$
|
80,202
|
|
|
$
|
68,498
|
|
|
$
|
11,704
|
|
|
17.1
|
%
|
Disruptive Technology
|
71,542
|
|
|
67,153
|
|
|
4,389
|
|
|
6.5
|
%
|
|||
Total sales
|
$
|
151,744
|
|
|
$
|
135,651
|
|
|
$
|
16,093
|
|
|
11.9
|
%
|
|
Three Months Ended
|
|
Change
|
|||||||||||
(In thousands, except percentages)
|
September 30,
2017 |
|
September 30,
2016 |
|
$
|
|
%
|
|||||||
United States
|
$
|
125,933
|
|
|
$
|
120,473
|
|
|
$
|
5,460
|
|
|
4.5
|
%
|
International
|
25,811
|
|
|
15,178
|
|
|
10,633
|
|
|
70.1
|
%
|
|||
Total sales
|
$
|
151,744
|
|
|
$
|
135,651
|
|
|
$
|
16,093
|
|
|
11.9
|
%
|
|
Three Months Ended
|
|
Change
|
|||||||||||
(In thousands, except percentages)
|
September 30,
2017 |
|
September 30,
2016 |
|
$
|
|
%
|
|||||||
Cost of goods sold
|
$
|
36,798
|
|
|
$
|
31,453
|
|
|
$
|
5,345
|
|
|
17.0
|
%
|
Percentage of sales
|
24.3
|
%
|
|
23.2
|
%
|
|
|
|
|
|
Three Months Ended
|
|
Change
|
|||||||||||
(In thousands, except percentages)
|
September 30,
2017 |
|
September 30,
2016 |
|
$
|
|
%
|
|||||||
Research and development
|
$
|
10,887
|
|
|
$
|
10,265
|
|
|
$
|
622
|
|
|
6.1
|
%
|
Percentage of sales
|
7.2
|
%
|
|
7.6
|
%
|
|
|
|
|
|
Three Months Ended
|
|
Change
|
|||||||||||
(In thousands, except percentages)
|
September 30,
2017 |
|
September 30,
2016 |
|
$
|
|
%
|
|||||||
Selling, general and administrative
|
$
|
63,362
|
|
|
$
|
54,207
|
|
|
$
|
9,155
|
|
|
16.9
|
%
|
Percentage of sales
|
41.8
|
%
|
|
40.0
|
%
|
|
|
|
|
|
Three Months Ended
|
|
Change
|
|||||||||||
(In thousands, except percentages)
|
September 30,
2017 |
|
September 30,
2016 |
|
$
|
|
%
|
|||||||
Provision for litigation
|
$
|
2,537
|
|
|
$
|
—
|
|
|
$
|
2,537
|
|
|
—
|
%
|
Percentage of sales
|
1.7
|
%
|
|
—
|
%
|
|
|
|
|
|
Three Months Ended
|
|
Change
|
|||||||||||
(In thousands, except percentages)
|
September 30,
2017 |
|
September 30,
2016 |
|
$
|
|
%
|
|||||||
Amortization of intangibles
|
$
|
2,080
|
|
|
$
|
884
|
|
|
$
|
1,196
|
|
|
135.3
|
%
|
Percentage of sales
|
1.4
|
%
|
|
0.7
|
%
|
|
|
|
|
|
Three Months Ended
|
|
Change
|
|||||||||||
(In thousands, except percentages)
|
September 30,
2017 |
|
September 30,
2016 |
|
$
|
|
%
|
|||||||
Acquisition related costs
|
$
|
285
|
|
|
$
|
1,192
|
|
|
$
|
(907
|
)
|
|
(76.1
|
)%
|
Percentage of sales
|
0.2
|
%
|
|
0.9
|
%
|
|
|
|
|
|
Three Months Ended
|
|
Change
|
|||||||||||
(In thousands, except percentages)
|
September 30,
2017 |
|
September 30,
2016 |
|
$
|
|
%
|
|||||||
Other income, net
|
$
|
1,562
|
|
|
$
|
1,205
|
|
|
$
|
357
|
|
|
29.6
|
%
|
Percentage of sales
|
1.0
|
%
|
|
0.9
|
%
|
|
|
|
|
|
Three Months Ended
|
|
Change
|
|||||||||||
(In thousands, except percentages)
|
September 30,
2017 |
|
September 30,
2016 |
|
$
|
|
%
|
|||||||
Income tax provision
|
$
|
11,766
|
|
|
$
|
12,628
|
|
|
$
|
(862
|
)
|
|
(6.8
|
)%
|
Effective income tax rate
|
31.5
|
%
|
|
32.5
|
%
|
|
|
|
|
|
Nine Months Ended
|
|
Change
|
|||||||||||
(In thousands, except percentages)
|
September 30,
2017 |
|
September 30,
2016 |
|
$
|
|
%
|
|||||||
Innovative Fusion
|
$
|
241,940
|
|
|
$
|
207,985
|
|
|
$
|
33,955
|
|
|
16.3
|
%
|
Disruptive Technology
|
218,003
|
|
|
204,419
|
|
|
13,584
|
|
|
6.6
|
%
|
|||
Total sales
|
$
|
459,943
|
|
|
$
|
412,404
|
|
|
$
|
47,539
|
|
|
11.5
|
%
|
|
Nine Months Ended
|
|
Change
|
|||||||||||
(In thousands, except percentages)
|
September 30,
2017 |
|
September 30,
2016 |
|
$
|
|
%
|
|||||||
United States
|
$
|
381,870
|
|
|
$
|
372,749
|
|
|
$
|
9,121
|
|
|
2.4
|
%
|
International
|
78,073
|
|
|
39,655
|
|
|
38,418
|
|
|
96.9
|
%
|
|||
Total sales
|
$
|
459,943
|
|
|
$
|
412,404
|
|
|
$
|
47,539
|
|
|
11.5
|
%
|
|
Nine Months Ended
|
|
Change
|
|||||||||||
(In thousands, except percentages)
|
September 30,
2017 |
|
September 30,
2016 |
|
$
|
|
%
|
|||||||
Cost of goods sold
|
$
|
109,597
|
|
|
$
|
95,703
|
|
|
$
|
13,894
|
|
|
14.5
|
%
|
Percentage of sales
|
23.8
|
%
|
|
23.2
|
%
|
|
|
|
|
|
Nine Months Ended
|
|
Change
|
|||||||||||
(In thousands, except percentages)
|
September 30,
2017 |
|
September 30,
2016 |
|
$
|
|
%
|
|||||||
Research and development
|
$
|
32,266
|
|
|
$
|
30,889
|
|
|
$
|
1,377
|
|
|
4.5
|
%
|
Percentage of sales
|
7.0
|
%
|
|
7.5
|
%
|
|
|
|
|
|
Nine Months Ended
|
|
Change
|
|||||||||||
(In thousands, except percentages)
|
September 30,
2017 |
|
September 30,
2016 |
|
$
|
|
%
|
|||||||
Selling, general and administrative
|
$
|
194,859
|
|
|
$
|
161,317
|
|
|
$
|
33,542
|
|
|
20.8
|
%
|
Percentage of sales
|
42.4
|
%
|
|
39.1
|
%
|
|
|
|
|
|
Nine Months Ended
|
|
Change
|
|||||||||||
(In thousands, except percentages)
|
September 30,
2017 |
|
September 30,
2016 |
|
$
|
|
%
|
|||||||
Provision for litigation
|
$
|
2,780
|
|
|
$
|
3,056
|
|
|
$
|
(276
|
)
|
|
(9
|
)%
|
Percentage of sales
|
0.6
|
%
|
|
0.7
|
%
|
|
|
|
|
|
Nine Months Ended
|
|
Change
|
|||||||||||
(In thousands, except percentages)
|
September 30,
2017 |
|
September 30,
2016 |
|
$
|
|
%
|
|||||||
Amortization of intangibles
|
$
|
5,671
|
|
|
$
|
1,673
|
|
|
$
|
3,998
|
|
|
239.0
|
%
|
Percentage of sales
|
1.2
|
%
|
|
0.4
|
%
|
|
|
|
|
|
Nine Months Ended
|
|
Change
|
|||||||||||
(In thousands, except percentages)
|
September 30,
2017 |
|
September 30,
2016 |
|
$
|
|
%
|
|||||||
Acquisition related costs
|
$
|
1,290
|
|
|
$
|
1,347
|
|
|
$
|
(57
|
)
|
|
(4.2
|
)%
|
Percentage of sales
|
0.3
|
%
|
|
0.3
|
%
|
|
|
|
|
|
Nine Months Ended
|
|
Change
|
|||||||||||
(In thousands, except percentages)
|
September 30,
2017 |
|
September 30,
2016 |
|
$
|
|
%
|
|||||||
Other income, net
|
$
|
5,848
|
|
|
$
|
2,383
|
|
|
$
|
3,465
|
|
|
145.4
|
%
|
Percentage of sales
|
1.3
|
%
|
|
0.6
|
%
|
|
|
|
|
|
Nine Months Ended
|
|
Change
|
|||||||||||
(In thousands, except percentages)
|
September 30,
2017 |
|
September 30,
2016 |
|
$
|
|
%
|
|||||||
Income tax provision
|
$
|
36,356
|
|
|
$
|
40,759
|
|
|
$
|
(4,403
|
)
|
|
(10.8
|
)%
|
Effective income tax rate
|
30.5
|
%
|
|
33.7
|
%
|
|
|
|
|
|
Three Months Ended
|
|
Nine Months Ended
|
||||||||||||
(In thousands, except percentages)
|
September 30,
2017 |
|
September 30,
2016 |
|
September 30,
2017 |
|
September 30,
2016 |
||||||||
Net Income
|
$
|
25,591
|
|
|
$
|
26,227
|
|
|
$
|
82,972
|
|
|
$
|
80,043
|
|
Interest income, net
|
(1,738
|
)
|
|
(795
|
)
|
|
(4,746
|
)
|
|
(1,893
|
)
|
||||
Provision for income taxes
|
11,766
|
|
|
12,628
|
|
|
36,356
|
|
|
40,759
|
|
||||
Depreciation and amortization
|
10,838
|
|
|
7,838
|
|
|
33,773
|
|
|
21,536
|
|
||||
EBITDA
|
46,457
|
|
|
45,898
|
|
|
148,355
|
|
|
140,445
|
|
||||
Stock-based compensation expense
|
3,596
|
|
|
2,747
|
|
|
10,659
|
|
|
8,437
|
|
||||
Provision for litigation
|
2,537
|
|
|
—
|
|
|
2,780
|
|
|
3,056
|
|
||||
Acquisition related costs, COGS
|
499
|
|
|
304
|
|
|
1,548
|
|
|
304
|
|
||||
Acquisition related costs
|
285
|
|
|
1,192
|
|
|
1,290
|
|
|
1,347
|
|
||||
Adjusted EBITDA
|
$
|
53,374
|
|
|
$
|
50,141
|
|
|
$
|
164,632
|
|
|
$
|
153,589
|
|
|
|
|
|
|
|
|
|
||||||||
Net income as a percentage of sales
|
16.9
|
%
|
|
19.3
|
%
|
|
18.0
|
%
|
|
19.4
|
%
|
||||
Adjusted EBITDA as a percentage of sales
|
35.2
|
%
|
|
37.0
|
%
|
|
35.8
|
%
|
|
37.2
|
%
|
|
Three Months Ended
|
|
Nine Months Ended
|
||||||||||||
(In thousands)
|
September 30,
2017 |
|
September 30,
2016 |
|
September 30,
2017 |
|
September 30,
2016 |
||||||||
Net income
|
$
|
25,591
|
|
|
$
|
26,227
|
|
|
$
|
82,972
|
|
|
$
|
80,043
|
|
Provision for litigation
|
2,537
|
|
|
—
|
|
|
2,780
|
|
|
3,056
|
|
||||
Amortization of intangibles
|
2,080
|
|
|
884
|
|
|
5,671
|
|
|
1,673
|
|
||||
Acquisition related costs
|
784
|
|
|
1,496
|
|
|
2,838
|
|
|
1,651
|
|
||||
Tax effect of adjusting items
|
(1,677
|
)
|
|
(776
|
)
|
|
(3,443
|
)
|
|
(2,112
|
)
|
||||
Non-GAAP net income
|
$
|
29,315
|
|
|
$
|
27,831
|
|
|
$
|
90,818
|
|
|
$
|
84,311
|
|
|
Three Months Ended
|
|
Nine Months Ended
|
||||||||||||
(In thousands)
|
September 30,
2017 |
|
September 30,
2016 |
|
September 30,
2017 |
|
September 30,
2016 |
||||||||
Net cash provided by operating activities
|
$
|
35,273
|
|
|
$
|
42,654
|
|
|
$
|
114,698
|
|
|
$
|
121,481
|
|
Adjustment for impact of restricted cash
|
(478
|
)
|
|
(10,758
|
)
|
|
(477
|
)
|
|
(25,642
|
)
|
||||
Purchases of property and equipment
|
(12,817
|
)
|
|
(6,559
|
)
|
|
(37,878
|
)
|
|
(26,701
|
)
|
||||
Free cash flow
|
$
|
21,978
|
|
|
$
|
25,337
|
|
|
$
|
76,343
|
|
|
$
|
69,138
|
|
|
Three Months Ended
|
|
Reported Sales Growth
|
|
Currency Impact on Current Period Sales
|
|
Constant Currency Sales Growth
|
||||||||||
(In thousands, except percentages)
|
September 30,
2017 |
|
September 30,
2016 |
|
|
|
|||||||||||
United States
|
$
|
125,933
|
|
|
$
|
120,473
|
|
|
4.5
|
%
|
|
—
|
|
|
4.5
|
%
|
|
International
|
25,811
|
|
|
15,178
|
|
|
70.1
|
%
|
|
$
|
47
|
|
|
69.7
|
%
|
||
Total sales
|
$
|
151,744
|
|
|
$
|
135,651
|
|
|
11.9
|
%
|
|
$
|
47
|
|
|
11.8
|
%
|
|
Nine Months Ended
|
|
Reported Sales Growth
|
|
Currency Impact on Current Period Sales
|
|
Constant Currency Sales Growth
|
||||||||||
(In thousands, except percentages)
|
September 30,
2017 |
|
September 30,
2016 |
|
|
|
|||||||||||
United States
|
$
|
381,870
|
|
|
$
|
372,749
|
|
|
2.4
|
%
|
|
—
|
|
|
2.4
|
%
|
|
International
|
78,073
|
|
|
39,655
|
|
|
96.9
|
%
|
|
$
|
(592
|
)
|
|
98.4
|
%
|
||
Total sales
|
$
|
459,943
|
|
|
$
|
412,404
|
|
|
11.5
|
%
|
|
$
|
(592
|
)
|
|
11.7
|
%
|
|
Nine Months Ended
|
|
Change
|
||||||||
(In thousands)
|
September 30,
2017 |
|
September 30,
2016 |
|
$
|
||||||
Net cash provided by operating activities
|
$
|
114,698
|
|
|
$
|
121,481
|
|
|
$
|
(6,783
|
)
|
Net cash used in investing activities
|
(94,969
|
)
|
|
(93,145
|
)
|
|
(1,824
|
)
|
|||
Net cash provided by financing activities
|
1,709
|
|
|
4,028
|
|
|
(2,319
|
)
|
|||
Effect of foreign exchange rate changes on cash
|
778
|
|
|
(2,324
|
)
|
|
3,102
|
|
|||
Increase in cash and cash equivalents
|
$
|
22,216
|
|
|
$
|
30,040
|
|
|
$
|
(7,824
|
)
|
(In thousands)
|
September 30,
2017 |
|
December 31,
2016 |
||||
Cash and cash equivalents
|
$
|
154,855
|
|
|
$
|
132,639
|
|
Short-term marketable securities
|
182,804
|
|
|
157,673
|
|
||
Long-term marketable securities
|
58,884
|
|
|
60,444
|
|
||
Total cash, cash equivalents and marketable securities
|
$
|
396,543
|
|
|
$
|
350,756
|
|
|
|
|
|
||||
Available borrowing capacity under revolving credit facility
|
50,000
|
|
|
50,000
|
|
||
Working capital
|
$
|
488,635
|
|
|
$
|
433,874
|
|
•
|
recorded an updated depreciation and scrap methodology for instruments and cases included in December 31, 2016 financial statements
|
•
|
reviewed results using the updated methodology to validate the prior period adjustment
|
•
|
implementation of the new methodology within the fixed asset sub-ledger
|
•
|
additional account detail within the general ledger to provide added visibility to monitor amounts scrapped.
|
Exhibit No.
|
|
Item
|
|
|
|
|
||
|
||
|
||
101.INS*
|
|
XBRL Instance Document
|
101.SCH*
|
|
XBRL Taxonomy Extension Schema Document
|
101.CAL*
|
|
XBRL Taxonomy Extension Calculation Linkbase Document
|
101.LAB*
|
|
XBRL Taxonomy Extension Label Linkbase Document
|
101.PRE*
|
|
XBRL Taxonomy Extension Presentation Linkbase Document
|
101.DEF*
|
|
XBRL Taxonomy Extension Definition Linkbase Document
|
|
|
|
*
|
|
Filed herewith.
|
**
|
|
Furnished herewith.
|
|
|
GLOBUS MEDICAL, INC.
|
|
|
|
|
|
|
Dated:
|
November 9, 2017
|
/s/ DAVID M. DEMSKI
|
|
|
|
|
|
David M. Demski
|
|
|
Chief Executive Officer
|
|
|
(Principal Executive Officer)
|
|
|
|
Dated:
|
November 9, 2017
|
/s/ DANIEL T. SCAVILLA
|
|
|
|
|
|
Daniel T. Scavilla
|
|
|
Senior Vice President
|
|
|
Chief Financial Officer
|
|
|
(Principal Financial Officer)
|
1 Year Globus Medical Chart |
1 Month Globus Medical Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions