DJO Global, a medical device manufacturer based in San Diego, California, reported its results for the third quarter through September 29th, 2012. While the latest earnings report still shows a loss for the company, DJO was able to narrow those losses by 12.4 percent.
In a report filed with the SEC, DJO Global reported $22.6 million in net losses. These losses are based on total sales of $274 million for Q3. During the same time period in the previous year, the company reported a net loss of $25.8 million on $263 million in sales.
Total operating income for DJO Global in Q3 was $22.5 million. This is an increase of 153 percent over the same period in the previous year. In addition, total sales for the company were up by 4.1. After excluding changes in exchange rates, the company’s net sales showed a 6.2 percent increase.
In prepared statements, CEO and president Mike Mugul said, "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." He continued, "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."
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