DJO Global reports Q1 12.7% net sales growth, $38.3M net loss: 7 key notes

Spinal Tech

DJO Global reported net sales growth in the first quarter of 2016.

Here are seven key notes on the company's financial report:

 

1. DJO Global reported 12.7 percent net sales growth to $278.9 million in the first quarter over the same period last year. The foreign currency exchange rate negatively impacted the net sales.

 

2. The company's international segment net sales reached $75.1 million in the first quarter, with France, Canada and the United Kingdom as big contributors.

 

3. The surgical implant segment reported $43.1 million in first quarter net sales, a 59.9 percent increase over the same period last year. Hip, knee, shoulder and cement segments had a strong quarterly performance.

 

4. DJO Global reported a successful uptake in the market for its new Empwr 3D Knee during the first quarter and launched the Altivate Shoulder.

 

5. Net loss for the quarter attributable to DJOFL was $38.3 million, up from $35.5 million over the same period last year.

 

6. The company reported $37.2 million in cash balances and $118.5 million in availability liquidity under its $150 million revolving credit facility as of Dec. 31, 2015.

 

7. DJO Global confirmed previous guidance for the 2016 revenue growing at 6 percent to 8 percent. Adjusted EBITDA growth rates are expected at 8 percent to 10 percent.

 

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