Össur reports second-quarter results

Össur has announced its financial results for the second quarter of 2015, including sales of $127 million, which corresponded to 7% local currency growth and 8% organic growth.

Additionally, bracing and supports sales demonstrated an 8% local currency growth and 8% organic growth, and prosthetics sales grew by 10% local currency and 7% organic.

Gross profit showed a decrease from $85 million, or 64% of sales, in the second quarter of 2014 to $80 million, or 63% of sales, this quarter. Net profit also decreased to $16 million, or 12% of sales, compared with $17 million, or 13% of sales, in the second quarter of 2014, according to a company press release.

Earnings before interest, taxes, depreciation and amortization (EBITDA) were $27 million, or 21% of sales, with an adjusted EBITDA of $28 million, or 22% of sales, which marked a 7% increase in local currency. The company also reported a significant impact on reported sales and profits from the strengthening of the dollar, which negatively impacted sales by $13 million and EBITDA by $2 million.

“The results of this quarter are good. [Results show] strong growth and good profitability despite adverse impact from currency fluctuations,” Jón Sigurðsson, president and CEO, said in the press release. “Prosthetics continue to perform well in all of our major markets, and sales growth in bracing and supports was excellent in the quarter.”

Reference: www.ossur.com.

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