DJO Global releases financial results for its public reporting subsidiary, DJO Finance LLC, for the second quarter that ended July 1, 2016.
The Vista, Calif-based company notes that its net sales grew 4.6% to $292.9 million, and its adjusted EBITDA increased 3.7% to $63.6 million, per a media release from the company.
Net sales for DJO’s Bracing and Vascular segment were $131.8 million in the second quarter of 2016, reflecting a decrease of 3.3%, compared to the second quarter of 2015, due to delayed customer delivery issues in transitioning the Dr. Comfort businesses to the company’s Oracle ERP system.
Net sales for DJO’s Recovery Sciences segment were $38.4 million in the second quarter of 2016, reflecting a decrease of 4.1%, compared to the second quarter of 2015, driven by slower sales of CMF devices and Chattanooga rehabilitation equipment, according to the release.
For the second quarter of 2016, DJOFL reported a net loss attributable to DJOFL of $23.3 million, compared to a net loss of $78.0 million for the second quarter of 2015.
Adjusted EBITDA for the second quarter of 2016 was $63.6 million, or 21.7% of net sales, reflecting 3.7% as reported when compared with Adjusted EBITDA of $61.3 million, or 21.9% of net sales, for the second quarter of 2015.
For more information, visit DJO Global.
[Source(s): DJO Global, Business Wire]