DJO’s first quarter 2011 includes net sales from businesses recently acquired, including Elastic Therapy (ETI), acquired on 4 January 2011 and Circle City Medical (Circle City), acquired on 10 March 2011.
For the first quarter of 2011, DJOFL reported a net loss attributable to DJOFL of $21.2m, compared to $33.7m for the first quarter of 2010.
DJO president and chief executive officer Les Cross said sales of $249.7m in the first quarter of 2011 were slightly ahead of expectations and reflect a continuation of the improving market trends they began to see in the fourth quarter last year and the contribution from the businesses acquired during the quarter, partially offset by the expected modest disruption to revenue in businesses that went live on new ERP system during the quarter.
"With the addition of the ETI and Dr. Comfort businesses to our Bracing and Supports reporting segment, we have significantly strengthened our vascular health franchise, and as a result, we are renaming this segment Bracing and Vascular to better reflect the comprehensive nature and strategic focus of this business," Cross said.
"First quarter sales in our Recovery Sciences, Bracing and Vascular, International and Surgical Implant business segments were $85.2m, $78.1m, $69.9m and $16.5m, respectively.
"In our Recovery Sciences segment, growth was driven by strong sales in our Regeneration business, with our bone growth stimulation devices delivering over 8% growth in the first quarter. We also saw solid growth within our Chattanooga product lines."
