DJO Global reported second quarter net sales were up 6.5 percent over the same period last year.
DJO Global has been relatively quiet in 2014 compared to other big players in the market who are acquiring businesses and making strategic moves.
Here are five things to know about DJO Global's second quarter financial report:
1. Net sales grew 6.5 percent to reach $313.9 million in the second quarter. They were favorably impacted by $2.5 million related to changes in foreign currency exchange rates compared to the rates in effect during the second quarter of 2013. Without the impact of changes in the foreign currency exchange rate, the company's net sales grew 5.8 percent.
Adjusted EBITDA for the second quarter was $70.2 million, which is 22.4 percent of net sales. This is a 5.3 percent growth over the same period last year.
2. The company reported net loss attributable to DJOFL of $25.4 million, compared to a net loss during the second quarter of last year of $20.8 million. These results are impacted by significant non-cash items, non-recurring items and other adjustments.
3. The company's sugical implant segment net sales grew 17.3 percent over the same period last year, reaching $25.1 million during the second quarter of 2014. The numbers were driven by strong sales in the shoulder, knee and hip product lines. In March, Brady Shirley became the new president of DJO Surgical, a division of DJO Global Finance.
4. Cash balances at the company was reported as $36.6 million and available liquidity of $77.5 million under its $100 million revolving credit line.
5. In March, new research was released showing around $417 million in annual savings is generated for Medicare by treating low back pain with a transcutaneous electrical nerve simulation system from DJO Global.
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