Third Quarter 2007 Financial Highlights
• Sales USD 82.3 million, up by 31% from Q3 2006
• Organic sales growth 11%
• Pro forma sales growth 11%
• EBITDA USD 14.1 million, up by 16% from Q3 2006
• EBITDA margin 17.1%, compared to 19.3% in Q3 2006
• Net profit USD 2.2 million, down from USD 5.4 million in Q3 2006
First Nine Months 2007 Financial Highlights
• Sales USD 250.7 million, up by 33% from 2006
• Organic sales growth 8%
• Pro forma sales growth 8%
• EBITDA USD 41.7 million, up by 23% from 2006
• EBITDA margin 16.6%, compared to 18.0% in 2006
• Net profit USD 0.9 million, compared to USD 8.1 million in 2006
Jon Sigurdsson, President & CEO, comments:
“We are satisfied with our third quarter results. We continue to see impressive
sales growth in Europe and are beginning to see positive results of our major
restructuring of the bracing and support sales channels in the Americas earlier
this year. Gibaud is progressing nicely and showing healthy growth from last
year although we now have increased seasonality in our sales, due to summer
closings in France. The strong double digit growth in prosthetics sales
continues and there is a positive trend in our bracing and support sales.
Overall, we are confident that we are now starting to harvest from our
integration and restructuring efforts and have a solid foundation for future
growth.”
