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DJO Looks Back on Loss

DJO Inc., a Vista-based maker of prosthetics and other medical devices that was acquired by ReAble Therapeutics Inc. last year, blamed its fourth-quarter net loss of $57.3 million on significant accounting adjustments and expenses involving the company’s sale in a report March 24.

For the full fiscal year ended Dec. 31, DJO reported a net loss of $82.4 million on revenue of $492 million. That compared with a net loss of $88.4 million on revenue of $362.3 million for 2006.

In July, DJO and ReAble, based in Austin, Texas, announced a definitive agreement to merge, with DJO shareholders getting $50.25 per share, or an aggregate $1.6 billion.

The deal closed in November, taking DJO private and halting trade of its stock on the New York Stock Exchange.

ReAble is a subsidiary of Blackstone Capital Partners, one of the largest private equity firms in the world.

Les Cross, a former chief executive officer of DJO who now heads up the combined company called DJO Inc., said he expects full year net sales “to approach $1 billion,” with adjusted operating profit margins to approach 30 percent of net sales.

, Mike Allen

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