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DJO Finance increases net sales in Q1

San Diego-based DJO Global Inc., a provider of medical device solutions for musculoskeletal health, vascular health and pain management, has announced its financial results for its public reporting subsidiary, DJO Finance LLC (DJOFL), for the first quarter of 2014 ending in March 29.

DJOFL achieved net sales of $282.7 million for the first quarter of 2014, reflecting growth of 1.3 percent, compared with net sales of $279.1 million for the first quarter of 2013.

For the first quarter of 2014, DJOFL reported a net loss attributable to DJOFL of $36.5 million, compared to a net loss of $32.4 million for the first quarter of 2013.

Adjusted EBITDA for the first quarter of 2014 was $59.6 million, or 21.1 percent of net sales, remaining flat when compared with adjusted EBITDA of $59.8 million, or 21.4 percent of net sales, for the first quarter of 2013.

“We were pleased to see all of our business segments, except for Recovery Sciences, continue to deliver good sales growth in the first quarter with approximately 2.5 percent growth on a constant currency basis compared to the first quarter of 2013, despite effects of severe weather in the U.S.,” said Mike Mogul, DJO Global president and CEO.

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