Posted on Thursday, November 1st, 2012 at 7:38 pm.
Austin-based surgical products company ArthroCare reported its third quarter financial results earlier this week. The company was pleased to announce that its profits increased from last month.
ArthroCare’s third quarter net income was just over $9 million, with a total revenue of $86.9 million. During this quarter last year, the company had profits of $2.4 million and a total revenue of $83.2 million.
ArthroCare employs nearly 1,600 people and makes surgical products for minimally invasive procedures. As of right now, the company is being investigated by the U.S. Department of Justice regarding the billing and sales of one of its spinal products. Officials have stated that legal issues have cut into the profits of the company, and they have been experiencing these issues since 2008. Three out of the last four years, ArthroCare reported losses instead of profit.
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