Second Quarter 2007 Financial Highlights
• Sales USD 88.0 million, up by 34% from Q2 2006
• Organic sales growth 8%
• Pro forma sales growth 7%
• EBITDA USD 17.4 million, up by 32% from Q2 2006
• EBITDA margin 19.7%, compared to 20.1% in Q2 2006
• Net profit USD 1.5 million, down from USD 2.1 million in Q2 2006
First Half 2007 Financial Highlights
• Sales USD 168.4 million, up by 34% from H1 2006
• Organic sales growth 6%
• Pro forma sales growth 7%
• EBITDA USD 27.6 million, up by 27% from H1 2006
• EBITDA margin 16.4%, compared to 17.3% in H1 2006
• Net loss USD 1.2 million, compared to net profit USD 2.7 million in H1 2006
Jon Sigurdsson, President & CEO, comments:
“We see a clear turnaround in Europe while US is facing a short term set-back
in growth due to the comprehensive restructuring of the sales channel in the
Bracing and Support segment. The total restructuring of the sales channel in
the US will take us through the final steps of fully integrating the Bracing
and Support companies we have acquired in North America into one strong
consolidated Ossur. We are confident it will return significant improvements in
the next quarters. The Prosthetic sales continue to grow in line with the
Company's targets of 8-12%. Our Bionic Technology continues to receive
attention and recognition by the media as well as among orthopaedic
professionals and users alike.”
