Second quarter net sales dropped 1 percent for DJO Global.
Here are 10 things to know:
1. The company’s net sales hit $310.8 million, a 1 percent decline compared with the same quarter last year. The 2015 sales were negatively impacted by $14 million related to charges in foreign currency exchange rates compared with the same period last year.
2. The adjusted EBITDA for the second quarter was $73.7 million, 23.7 percent of net sales.
3. DJO reported a net loss of $78 million, up over a $25.4 million net loss last year. The net loss was impacted by significant non-cash items, non-recurring items and other adjustments.
4. The surgical implant segment net sales were $28.1 million in the second quarter, an 11.9 percent net sales growth driven by strong hip and shoulder sales.
5. The international segment reported $75.6 million in net sales.
6. At the end of the quarter, DJO reported cash balances at $48.4 million and available liquidity of $111.5 million under its $150 million revolving credit.
7. In the second quarter, the company launched the DonJoy Performance in the consumer sports channel, making its sports medicine products available to consumers.
8. The company recently acquired Cobalt Bone Cement and the Discovery Elbow to enhance existing orthopedic implant lines.
9. The company reconfirmed 2015 guidance at mid-single digit revenue growth and updating adjusted EBITDA growth rates to high-single digits.
10. This year the company is building momentum for MotionCare products for patients with arthritis.