DJO Global reports financial results for first quarter of 2018

DJO Global Inc. announced the financial results for the first quarter of 2018, which ended March 31.

According to a company press release, net sales for the first quarter were $292.6 million, a 1.5% increase compared to net sales in the first quarter of 2017. However, sales declined by 1.7% on the basis of constant currency rates. From the first quarter of 2017 to the first quarter of 2018, the operating income increased from $6.7 million to $33.5 million, a 501.9% increase.

The net loss for DJO Finance LLC was $17.6 million in the first quarter 2018 vs. $40 million in the first quarter 2017. The adjusted earnings before interest, taxes, depreciation and amortization increased 13.2% from $57.2 million to $64.8 million compared to the prior year quarter. The DJO Surgical Implant segment grew $53.6 million in the first quarter, which was an 8.1% increase. According to the release, there was a greater than 20% increase in the shoulder implant product line and a single-digit increase in the hip and knee product lines.

“After starting the quarter with slow revenue trends reflecting the overall market performance, we saw improvement later in the quarter, particularly in March,” Brady Shirley, DJO’s president and CEO, said in the release. “In line with our annual plan, we expect to build revenue momentum throughout the year as growth investments that began late in 2017 begin to materialize. Overall performance was highlighted by continued, strong earnings growth and significant margin expansion.”

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