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Market Growth Drives DJO Net Income Higher

DJO Inc., the Vista-based maker of orthopedic rehabilitation devices, reported second-quarter net income of $5.4 million on revenue of $120.2 million. The company made its earnings public on Aug. 2.

That compared to net income of $1.3 million on revenue of $106.5 million for the like period of 2006.

For the first six months of 2007, DJO had net income of $9.4 million on revenue of $235 million, with sales increased 24 percent from the like quarter of 2006.

The results were driven by improved market growth within each of DJO’s business segments, said CEO Les Cross.

DJO said for the third quarter it expects revenue between $120 million and $125 million.

DJO announced July 16 it agreed to be acquired by ReAble Therapeutics Inc., based in Austin, Texas, and owned by the Blackstone Group. The agreement calls for a cash offer of $50.25 for each share of DJO, or an aggregate $1.6 billion, including $300 million in debt.

The deal is supposed to close in the fourth quarter.

DJO, traded on the New York Stock Exchange, closed Aug. 2 at $48.72, and has ranged from $31.07 to $53.55 over the past 52 weeks.

, Mike Allen

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