During the first quarter of 2011, the company acquired Elastic Therapy and Circle City Medical. However, the sales growth was negatively impacted by particular domestic customers who purchased safety stock of the Company’s bracing and supports product during the fourth quarter of 2010, which would have otherwise been purchased during the first quarter of 2011, in anticipation for the company’s Enterprise Resource Planning event.
The company reported a net loss of $21.2 million, compared to $33.7 million for the first quarter of 2010. The loss is attributable to discontinued operations, interest expenses, net, income tax expense and other financial performance factors.
The company’s recovery sciences segment drove the net sales, representing $85.1 million, followed by the bracing and vascular segment, which represented $78.2 million. The surgical implant segment represented $15.5 in net sales. The surgical implant division was driven by strong sales of the Reverse Shoulder Prosthesis and the Lima Hip Revision System, which was launched late last year.
Read the release on the financial report for DJO Global.
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DJO Global CEO Leslie Gross Joins Alphatec Spine’s Board of Directors
DJO Global to Acquire Dr. Comfort for $254M
DJO Acquires Elastic Therapy
