December 27, 2014 9:56 PM ET

Healthcare Equipment and Supplies

Company Overview of DJO Finance LLC

Company Overview

DJO Finance LLC develops, manufactures, and distributes medical devices that provide solutions for musculoskeletal health, vascular health, and pain management. Its Bracing and Vascular segment offers rigid knee bracing products, orthopedic soft goods, cold therapy products, vascular systems, and compression therapy products under the DonJoy, ProCare, Aircast, Dr. Comfort, Bell-Horn, and Exos brands. This segment provides its orthopedic soft goods and medical compression therapy products to independent pharmacies and home healthcare dealers; and therapeutic footwear, and related medical and comfort products to the diabetes care market. The company’s Recovery Sciences segment offers home elec...

1430 Decision Street

Vista, CA 92081

United States

5,470 Employees

Phone:

760-727-1280

Key Executives for DJO Finance LLC

Chief Executive Officer
Age: 49
Interim Principal Financial Officer and Interim Principal Accounting Officer
Age: 39
Executive Vice President of Global Quality & Operations
Age: 49
President of International Commercial Business
Age: 49
President of Global Recovery Sciences
Compensation as of Fiscal Year 2014.

DJO Finance LLC Key Developments

DJO Finance LLC Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 28, 2014

DJO Finance LLC announced unaudited consolidated earnings results for the second quarter and six months ended June 28, 2014. For the quarter, the company reported net loss of $25,207,000 and net loss attributable to the company of $25,434,000 on net sales of $313,867,000 against net loss of $20,642,000 and net loss attributable to the company of $20,814,000 on net sales of $294,745,000 a year ago. Operating income was $25,521,000 compared to $26,423,000 a year ago. Loss before income taxes was $18,453,000 compared to $18,438,000 a year ago. Adjusted EBITDA was $70,191,000 compared to $66,690,000 a year ago. For the six months, the company reported net loss of $61,380,000 and net loss attributable to the company of $61,956,000 on net sales of $596,611,000 against net loss of $52,768,000 and net income attributable to the company of $53,178,000 on net sales of $573,822,000 a year ago. Operating income was $35,723,000 compared to $46,216,000 a year ago. Loss before income taxes was $52,002,000 compared to $45,730,000 a year ago. Adjusted EBITDA was $129,797,000 compared to $126,518,000 a year ago.

DJO Finance LLC Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 29, 2014

DJO Finance LLC reported unaudited consolidated earnings results for the first quarter ended March 29, 2014. For the quarter, the company reported net sales of $282.7 million, reflecting growth of 1.3%, compared with net sales of $279.1 million for the first quarter of 2013. Net sales for the first quarter of 2014 were favorably impacted by $0.9 million related to changes in foreign currency exchange rates compared to the rates in effect in the first quarter of 2013. Net loss attributable to the company was $36.5 million, compared to a net loss of $32.4 million for the first quarter of 2013. Adjusted EBITDA was $59.6 million, or 21.1% of net sales, remaining flat when compared with adjusted EBITDA of $59.8 million, or 21.4% of net sales, for the first quarter of 2013. Operating income was $10.202 million against $19.793 million a year ago. Loss before income taxes was $33.549 million against $27.292 million a year ago.

DJO Finance LLC Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2013; Reports Impairment Charges for the Fourth Quarter Ended December 31, 2013

DJO Finance LLC reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2013. The company achieved net sales for the fourth quarter of 2013 of $313.6 million, reflecting growth of 7.9%, compared with net sales of $290.5 million for the fourth quarter of 2012. Net sales for the fourth quarter of 2013 were favorably impacted by $1.3 million related to changes in foreign currency exchange rates compared to the rates in effect in the fourth quarter of 2012. Excluding the impact of changes in foreign currency exchange rates from rates in effect in the prior year period (constant currency), net sales for the fourth quarter of 2013 increased 7.5% compared to net sales for the fourth quarter of 2012. Net loss attributable to the company was $131.8 million, compared to $47.0 million for the fourth quarter of 2012. The increase in the net loss was due primarily to a year-end write off of goodwill of $106.6 million, whereas the net loss for the fourth quarter of 2012 included a loss on modification and extinguishment of debt of $27.5 million. Operating loss was $81.1 million against $48.2 million last year. Loss before income taxes was $126.1 million against $54.8 million last year. Adjusted EBITDA for the fourth quarter of 2013 was $74.0 million against $71.6 million for the fourth quarter of 2012. Net sales were $1,175.5 million for the year ended December 31, 2013, reflecting growth of 4.1% compared to net sales of $1,129.4 million for the year ended December 31, 2012. Net sales for the twelve months of 2013 were favorably impacted by changes in foreign currency exchange rates aggregating $3.2 million compared to the rates in effect in the twelve months of 2012. In constant currency, net sales for the twelve months of 2013 increased by 3.8% compared to net sales for the twelve months of 2012. The company reported net loss attributable to the company of $203.5 million, compared to $119.2 million for the twelve months of 2012. Operating loss was $9.6 million against operating income of $92.9 million last year. Loss before income taxes was $189.4 million against $123.3 million last year. Adjusted EBITDA was $264.2 million compared to $274 million last year. Adjusted EBITDA before other adjustment items was $264.2 million against $271 million last year. For the fourth quarter of 2013, the company reported impairment of goodwill and intangible assets was $106.6 million against $7.4 million last year.

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