Restructuring charges put Wright Medical in the red in Q3 (Memphis Business Journal)
The implementation of compliance regulations has resulted in a decrease in third quarter sales for Arlington-based Wright Medical Group Inc.
The company’s sales for the third quarter decreased by 2.9 percent to $118.2 million, compared to $121.7 million during the third quarter of 2010. Year-to-date, the company’s sales are $386 million, 1.4 percent higher than the first nine months of 2010.
The company recorded a quarterly net loss of $16 million, or 42 cents per diluted share, which it directly a...
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