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Wednesday, Jul 24, 2024
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DJO Says Acquisition, Settlement Cut Into Earnings

DJO Inc., the Vista-based maker of medical orthopedic devices, reported first quarter net income of $4 million on revenue of $114.9 million on May 8.

While revenue was up 39 percent from the like period of 2006, net income was down from the $6 million reported in last year’s first quarter.

DJO said the lower profit was the result of expenses related to its acquisition of Aircast Inc. and a legal settlement.

CEO Les Cross said the company expects full year revenues between $470 million to $480 million, up 14 percent to 16 percent from the total in 2006.

Annual operating earnings on a per share basis were forecast between $1.35 to $1.40.

Shares of DJO, traded on the New York Exchange, took a hit of more than $7, and were at $32.35 to a new 52-week low in the May 8 session. The 52-week range was between $34.20 and $45.50.

, Mike Allen

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