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DJO reported 4Q20 orthopedic revenue of USD $131.2 million, -6.7% vs. 4Q19 with full-year 2020 revenue of $470.5 million, -8.8% vs. 2019. Sales improved sequentially compared to 3Q20, but fell short of year-over-year growth due to the escalation of COVID infections during the quarter.
In recent months, Colfax assembled a dedicated foot and ankle business through the acquisitions of Stryker’s STAR total ankle assets and Trilliant Surgical. Company leadership expects the business line to generate $100 million in annual revenue within a few years. Colfax intends to remain active in developing tuck-in acquisitions opportunities, primarily targeting companies in the $20 million to $30 million range.
The company provided 2021 guidance of +21% to +24% growth over 2020, or roughly +11% to +13% versus 2019. DJO expects modest lingering COVID impact in the first quarter, followed by a return to 2019-level volumes in the second half.
“We’ve got a robust project we’re using very actively in our Med Tech business. We’ve built a very robust funnel of opportunities, some of which are direct bolt-ons and some of which are more adjacencies. We’ve talked about looking at things in the small to medium sized range, because there’s a lot of attractive stuff that we can do in that range.” – Matt Trerotola, Colfax CEO
Revenue Data
All revenue data is provided in USD millions unless otherwise noted. Sales and growth rates are estimated on an as-reported basis.
Segment Sales
| 4Q20 | 4Q19 | $ Chg | % Chg | |
|---|---|---|---|---|
| Joint Replacement | $95.4 | $101.3 | ($5.8) | (5.7%) |
| Knees | $23.9 | $26.3 | ($2.5) | (9.4%) |
| Hips | $21.9 | $22.4 | ($0.5) | (2.1%) |
| Extremities | $49.6 | $52.5 | ($2.9) | (5.5%) |
| Other (Recovery Sciences) | $35.7 | $39.3 | ($3.5) | (9%) |
| Total | $131.2 | $140.5 | ($9.4) | (6.7%) |
| FY20 | FY19 | $ Chg | % Chg | |
|---|---|---|---|---|
| Joint Replacement | $339.7 | $368.1 | ($28.4) | (7.7%) |
| Knees | $85.2 | $95.8 | ($10.5) | (11%) |
| Hips | $77.9 | $81.5 | ($3.5) | (4.3%) |
| Extremities | $176.6 | $190.8 | ($14.3) | (7.5%) |
| Other (Recovery Sciences) | $130.8 | $148.1 | ($17.3) | (11.7%) |
| Total | $470.5 | $516.2 | ($45.6) | (8.8%) |
Geographic Sales
| 4Q20 | 4Q19 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $97.5 | $103.2 | ($5.7) | (5.5%) |
| OUS | $33.7 | $37.4 | ($3.7) | (9.8%) |
| EMEA | $24.5 | $27.9 | ($3.4) | (12.2%) |
| Asia Pacific | $6.6 | $5.4 | $1.1 | 20.5% |
| Rest of World | $2.6 | $4.0 | ($1.4) | (34.5%) |
| Total | $131.2 | $140.5 | ($9.4) | (6.7%) |
| FY20 | FY19 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $350.0 | $379.4 | ($29.4) | (7.7%) |
| OUS | $120.5 | $136.8 | ($16.3) | (11.9%) |
| EMEA | $88.7 | $102.1 | ($13.4) | (13.2%) |
| Asia Pacific | $21.9 | $20.0 | $1.9 | 9.4% |
| Rest of World | $10.0 | $14.7 | ($4.8) | (32.3%) |
| Total | $470.5 | $516.2 | ($45.7) | (8.8%) |
Earnings
| Amt | % of Sales | |
|---|---|---|
| Sales | $828.1 | |
| Cost of Sales | $473.4 | 57.2% |
| Selling and Admin | $281.4 | 34% |
| Other | $40.1 | 4.8% |
| Net Earnings | $33.2 | 4% |
| $0.0 | 0% |
Mike Evers is ORTHOWORLD’s Digital Content Strategist. He can be reached by email.
DJO reported 4Q20 orthopedic revenue of USD $131.2 million, -6.7% vs. 4Q19 with full-year 2020 revenue of $470.5 million, -8.8% vs. 2019. Sales improved sequentially compared to 3Q20, but fell short of year-over-year growth due to the escalation of COVID infections during the quarter.
In recent months, Colfax assembled a dedicated foot and...
DJO reported 4Q20 orthopedic revenue of USD $131.2 million, -6.7% vs. 4Q19 with full-year 2020 revenue of $470.5 million, -8.8% vs. 2019. Sales improved sequentially compared to 3Q20, but fell short of year-over-year growth due to the escalation of COVID infections during the quarter.
In recent months, Colfax assembled a dedicated foot and ankle business through the acquisitions of Stryker’s STAR total ankle assets and Trilliant Surgical. Company leadership expects the business line to generate $100 million in annual revenue within a few years. Colfax intends to remain active in developing tuck-in acquisitions opportunities, primarily targeting companies in the $20 million to $30 million range.
The company provided 2021 guidance of +21% to +24% growth over 2020, or roughly +11% to +13% versus 2019. DJO expects modest lingering COVID impact in the first quarter, followed by a return to 2019-level volumes in the second half.
“We’ve got a robust project we’re using very actively in our Med Tech business. We’ve built a very robust funnel of opportunities, some of which are direct bolt-ons and some of which are more adjacencies. We’ve talked about looking at things in the small to medium sized range, because there’s a lot of attractive stuff that we can do in that range.” – Matt Trerotola, Colfax CEO
Revenue Data
All revenue data is provided in USD millions unless otherwise noted. Sales and growth rates are estimated on an as-reported basis.
Segment Sales
| 4Q20 | 4Q19 | $ Chg | % Chg | |
|---|---|---|---|---|
| Joint Replacement | $95.4 | $101.3 | ($5.8) | (5.7%) |
| Knees | $23.9 | $26.3 | ($2.5) | (9.4%) |
| Hips | $21.9 | $22.4 | ($0.5) | (2.1%) |
| Extremities | $49.6 | $52.5 | ($2.9) | (5.5%) |
| Other (Recovery Sciences) | $35.7 | $39.3 | ($3.5) | (9%) |
| Total | $131.2 | $140.5 | ($9.4) | (6.7%) |
| FY20 | FY19 | $ Chg | % Chg | |
|---|---|---|---|---|
| Joint Replacement | $339.7 | $368.1 | ($28.4) | (7.7%) |
| Knees | $85.2 | $95.8 | ($10.5) | (11%) |
| Hips | $77.9 | $81.5 | ($3.5) | (4.3%) |
| Extremities | $176.6 | $190.8 | ($14.3) | (7.5%) |
| Other (Recovery Sciences) | $130.8 | $148.1 | ($17.3) | (11.7%) |
| Total | $470.5 | $516.2 | ($45.6) | (8.8%) |
Geographic Sales
| 4Q20 | 4Q19 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $97.5 | $103.2 | ($5.7) | (5.5%) |
| OUS | $33.7 | $37.4 | ($3.7) | (9.8%) |
| EMEA | $24.5 | $27.9 | ($3.4) | (12.2%) |
| Asia Pacific | $6.6 | $5.4 | $1.1 | 20.5% |
| Rest of World | $2.6 | $4.0 | ($1.4) | (34.5%) |
| Total | $131.2 | $140.5 | ($9.4) | (6.7%) |
| FY20 | FY19 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $350.0 | $379.4 | ($29.4) | (7.7%) |
| OUS | $120.5 | $136.8 | ($16.3) | (11.9%) |
| EMEA | $88.7 | $102.1 | ($13.4) | (13.2%) |
| Asia Pacific | $21.9 | $20.0 | $1.9 | 9.4% |
| Rest of World | $10.0 | $14.7 | ($4.8) | (32.3%) |
| Total | $470.5 | $516.2 | ($45.7) | (8.8%) |
Earnings
| Amt | % of Sales | |
|---|---|---|
| Sales | $828.1 | |
| Cost of Sales | $473.4 | 57.2% |
| Selling and Admin | $281.4 | 34% |
| Other | $40.1 | 4.8% |
| Net Earnings | $33.2 | 4% |
| $0.0 | 0% |
Mike Evers is ORTHOWORLD’s Digital Content Strategist. He can be reached by email.
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ME
Mike Evers Mike Evers is an analyst and writer with over 15 years of experience in the medical industry, spanning cardiac rhythm management, ER coding and billing, and orthopedics. He joined ORTHOWORLD in 2018, where he provides market analysis and editorial coverage.
