Here are eight things to know from the financial report:
1. The company’s net sales increased 11 percent to $80.4 million in the second quarter.
2. The company reported net loss from continuing operations for the quarter at $37.3 million, down from $53.6 million last year. The company reported $18.5 million unrealized loss related to market-to-market adjustments on contingent value rights in connection with the BioMimetic acquisition.
3. Wright’s second quarter 2015 adjusted EBITDA from continuing operations was negative $10.9 million, compared with negative $11.6 million
4. Cash and cash equivalents and marketable securities totaled $427.9 million as of the end of the second quarter, a significant increase from $198 million at the end of 2014.
5. Both Wright Medical and Tornier shareholders approved the pending merger between the two companies; however, the companies still need approval from the U.S. Federal Trade Commission. Tornier is pursuing a divesture of certain U.S. lower extremity product lines. The transaction is expected to close before the third quarter ends.
6. Second quarter global foot and ankle sales increased 17 percent. The second quarter global total ankle replacement sales were up 67 percent.
7. The company anticipates net sales to reach $325 million to $335 million for 2015, a 13 percent to 16 percent growth over 2014.
8. The anticipated 2015 adjusted EBITDA from continuing operations is expected to be negative $22 million to negative $27 million.
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