DJO Global reported net sales growth during the fourth quarter of 2014, as well as for the full year, but also posted a net loss.
Here are 10 things to know about the company's financial report.
1. Net sales were $327.1 million in the fourth quarter, up 4.3 percent over the same period last year.
2. The fourth quarter net loss was $7.4 million, down significantly from $131.8 million reported the year before.
3. The adjusted EBITDA for the fourth quarter was $82 million, or 25.1 percent of net sales. The EBIDTA reflected 10.5 percent growth when compared with the same period last year.
4. For the full year of 2014, DJO reported $1.2 billion in net sales, a 4.6 percent growth compared to 2013.
5. Changes in foreign currency exchange rates aggregating $3 million compared to 2013 negatively impacted the net sales in 2014. In constant currency, the net sales for 2014 were up 4.8 percent.
6. Net loss for 2014 was $90.5 million, down significantly from $203 million reported in 2013.
7. Adjusted EBITDA for the full year was $282.3 million, or 23 percent of net sales.
8. These three business lines had especially strong organic growth last year:
• Bracing and vascular: 6 percent
• Surgical implant: 15 percent
• International teams: 9.8 percent
9. The company expects to launch new products in the first quarter of 2015 and continue pursuing ongoing commercial initiatives to drive top-line growth. However foreign currency rates are still expected to negatively impact the company by around 300bps.
10. Strong sales in the shoulder, knee and hip product lines supported growth in the surgical implants line. The line reached $100.1 million in 2014.