DJO Global reports financial results for fourth quarter and fiscal year-end 2015

DJO Global Inc. announced financial results for DJO Finance LLC, the company’s public reporting subsidiary, for the fourth quarter and the 2015 fiscal year, which ended Dec. 31.

According to a company press release, net sales of the company grew to $308 million for the fourth quarter of 2015 and net sales for the full year increased to $1.1 billion. However, the release noted changes in foreign currency exchange rates negatively impacted net sales for the full year and aggregated $46.9 million.

“During the fourth quarter of 2015, we completed the wind-down of the Empi business and restated the historical financials to reflect Empi as discontinued operations and are pleased to report a strong quarter and full year performance of the rest of our businesses, which comprise DJO Global going forward,” Mike Mogul, the president and chief executive officer of DJO Global, said in the release. “Full year 2015 revenue growth of 6.7% and leveraged [earnings before interest, taxes, depreciation and amortization] EBITDA growth of 9.3% with accelerated performance in the fourth quarter shows the underlying strength of our businesses. We continue to see terrific performance in orthopedic implants and in consumer products, along with strong better than market performance in our core bracing and international businesses.”

For the fourth quarter, the adjusted EBITDA for the company grew to $68.9 million. The adjusted EBITDA for 2015 was $239.9 million compared with $231.3 million in 2014, indicating 3.7% as reported growth. As of Dec. 31, 2015, DJO reported $48.9 million in cash balances and $119.5 million available liquidity, which is under its $150 million revolving credit facility.

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