The announced first quarter 2016 financial results from DJO Global reflect revenue and EBITDA growth for the company since the previous year, according to a company news release.
According to the results for its public reporting subsidiary DJO Finance LLC (DJOFL) for the first quarter of 2016, the company’s net sales grew 12.7% to $278.9 million (13.7% constant currency, 7.4% on a sales per day basis), and its adjusted EBITDA increased 5.6% to $48.9 million (8.0% constant currency).
DJOFL achieved net sales for the first quarter of 2016 of $278.9 million, reflecting constant currency growth of 13.7%, compared with net sales of $247.5 million for the first quarter of 2015, per the release.
Broken down by segment, net sales for the Bracing and Vascular segment were $124.2 million in the first quarter of 2016, reflecting growth of 9.1% compared to the first quarter of 2015; and net sales for DJO’s Recovery Sciences segment were $36.6 million in the first quarter of 2016, reflecting an increase of 5.9%, compared to the first quarter of 2015.
In addition, net sales for DJO’s International segment were $75.1 million in the first quarter of 2016; and net sales for the Surgical Implant segment were $43.1 million for the first quarter of 2016, reflecting growth of 59.9% over net sales in the first quarter of 2015.
Adjusted EBITDA for the first quarter of 2016 was $48.9 million, or 17.5% of net sales, reflecting 5.6% as reported and 8.0% constant currency growth when compared to Adjusted EBITDA of $46.3 million, or 18.7% of net sales, for the first quarter of 2015. Including cost savings programs currently underway of $7.7 million, Adjusted EBITDA for the 12 months ended April 1, 2016 was $250.2 million, or 21.8% of LTM net sales, according to the release.
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[Source(s): DJO Global, Business Wire]