Interpore Cross’ Net Income Up by 57% for 4th Quarter

Interpore Cross International, an Irvine maker of spinal implant devices and synthetic bone and tissue products, said net income for the fourth quarter increased 57% to $1.2 million, or 9 cents a share, from $788,000, or 5 cents a share, for the fourth quarter of 1998. Net income for the 1999 period included a $407,000 reduction for income taxes. Sales grew 30% to a record $10.7 million. Net income for the year totaled $4.8 million, or 35 cents a share, compared with a net loss of $2.4 million, or 17 cents a share, for 1998. The previous year’s figure included $5 million in nonrecurring charges, including charges related to the company’s 1998 merger with Cross Medical Products. Sales rose 29% to a record $38.9 million.