Globus Medical reported record profits for the fourth quarter and full year in 2014.
"We launched 16 new products, made steady progress on our robotics project, and successfully completed the acquisition of Transplant Technologies of Texas," said Chairman and CEO David Paul. "This performance was the result of continued execution of our strategy of robust product innovation, sales force expansion and disciplined expense control."
Here are five things to know about the company's financial report:
1. Worldwide sales for the fourth quarter were $128 million, an 11.8 percent increase over the same period last year. Full year sales were up 9.2 percent to $474 million.
2. Net income in the fourth quarter was $27.6 million. The net income for the 2014 full year was $92.5 million.
3. The company reported cash, cash equivalents and marketable securities ended the year at $304.1 million. This is a $28.6 million increase throughout the year.
4. Globus Medical is still debt free.
5. The Non-GAAP Adjusted EBITDA was 36.7 percent of sales.