Globus Medical announces second-quarter financial results

Globus Medical recently announced its financial results for the second quarter of 2015.

Among the highlights of the report were an increase of 17.6% (19.1% on a constant currency basis) in sales to $133.6 million from 2014. Net income also increased 16.5% to $24.1 million this past quarter, according to a company press release.

Other items of note from the report included fully diluted earnings per share (EPS) of $0.25; a non-GAAP adjusted earnings before interest, taxes, depreciation and amortization 35% of sales; and an increase in the company’s 2015 guidance for sales to $524 million and EPS to $1.04.

“Once again the Globus team achieved strong sales growth and market share gains while maintaining strong profitability, with quarterly net income of $24.1 million, or 16.5% higher than the same quarter last year. During the second quarter, we also launched five new products and made further progress on integrating our two most recent acquisitions,” David Paul, chairman and CEO of Globus Medical, said in the release. “We remain confident in our long-term growth prospects and our ability to sustain our industry leading profitability by the continued execution of our strategy of introducing innovative products, expanding our U.S. and international sales footprint, and controlling our expenses.”

Reference: www.globusmedical.com.