Wright Medical Group reported financial results for 2015, including company financials after acquiring Tornier in October 2015.
Here are 10 things to know about the financial report:
1. Fourth quarter net sales hit $177 million. For the full year, net sales reached $415 million, up from $298 million in 2014.
2. The company reported net loss from continuing operations at $92.2 million for the fourth quarter, or $0.90 per diluted share. Full year net loss from continuing operations was $238 million. The total net loss in 2015 was $298.7 million, up from $259.6 million in 2014.
3. Cash and cash equivalents at the end of the fourth quarter hit $139.8 million.
4. The company's global lower extremities business increased 30.7 percent in the fourth quarter and 21.8 percent overall, to reach $238 million in 2015. United States lower extremities were up 25.9 percent in 2015.
5. Global upper extremities sales increased 944.9 percent in the fourth quarter and 213.8 percent overall, reaching $83.5 million in 2015. The upper extremities line increased 283.8 percent in the United States last year, hitting $58.7 million.
6. Wright Medical's biologics business grew 19 percent in the fourth quarter and 6.3 percent for the full year, hitting $70.2 million in 2015. The U.S. biologics line was up 11.2 percent last year to $50.5 million.
7. The sports medicine and other business lines increased 114.4 percent in the fourth quarter and 36.8 percent overall in 2015, reaching $13.2 million. The United States sports medicine and other sales were up 28.3 percent to $2.6 million.
8. Total United States sales increased 97.9 percent in the fourth quarter and 41.4 percent in the full year, to $299.8 million for 2015. The international sales were up 156 percent in the fourth quarter and 34.5 percent for the full year, hitting $115.6 million.
9. The completed Tornier acquisition resulted in four fewer calendar days for the fourth quarter of Tornier's fiscal calendar than under Wright Medical's fiscal calendar. Wright conformed its methodology for recognizing revenue to legacy Tornier methodology.
10. Wright expects 2016 full year net sales to reach around $695 million to $705 million, with an assumed negative 2 percent impact from currency exchange.