DJO Global made some progress during its 3rd quarter, reporting in the red but narrowing its losses by 12.4% along the way.
The San Diego, Calif.-based medical device company posted $22.6 million in net losses on sales of $274 million for the 3 months ended Sept. 29. That compared with a net loss of $25.8 million, on sales of $263 million during the same period last year.
Operating income was $22.5 million in Q3, up 153% from last year, and total sales were up 4.1%. Excluding the impact of changes in foreign currency exchange rates, net sales increased 6.2%.
“It is terrific to see our team deliver continued strong sales growth acceleration in the 3Q with over 6% growth in net sales on a constant currency basis compared to the 3Q of 2011. Our successful new product launches and improving commercial execution continue to drive strong momentum across most of our businesses,” president & CEO Mike Mogul said in prepared remarks. “While it’s great that we are achieving our short-term revenue growth targets of mid-single digits or better, we remain very keenly focused on continuing to enhance our customers’ experience by developing and launching exciting new products and by striving for continuous improvement in our commercial execution.”
Mogul said the the strength of the sales results from the company’s bracing & vascular segment and surgical implant segment helped compensate for decreased sales in its recovery sciences division.