Wright Medical Group N.V. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2017; Provides Earnings Guidance for 2018
For the year, the company reported net sales of $744,989,000 against $690,362,000 a year ago. Operating loss was $19,691,000 against $122,958,000 a year ago. Loss from continuing operations before income taxes was $99,905,000 against $178,340,000 a year ago. Net loss from continuing operations was $64,937,000 against $164,934,000 a year ago. Net loss was $202,598,000 against $432,373,000 a year ago. Basic and diluted net loss from continuing operations per share was $0.62 against $1.60 a year ago. Basic and diluted net loss per share was $1.94 against $4.20 a year ago. Non-GAAP net loss from continuing operations, as adjusted was $51,236,000 against $74,114,000 a year ago. Adjusted non-GAAP loss was $22,840,000 against $45,273,000 a year ago. Adjusted non-GAAP loss per share was $0.22 against $0.44 a year ago. Non-GAAP EBITDA was $59,967,000 against non-GAAP LBITDA of $35,139,000 a year ago. Non-GAAP adjusted EBITDA was $88,365,000 against $53,574,000 a year ago.
The company anticipates net sales for full-year 2018 of approximately $800 million to $812 million. This guidance range has approximately 1% cushion from foreign currency exchange rates as compared to current rates. In addition, this range implies full-year 2018 constant currency net sales growth of 9% to 11%, excluding the estimated $9 million impact of the four fewer selling days in fourth quarter of 2018. The company anticipates full-year 2018 non-GAAP adjusted EBITDA from continuing operations, to be in the range of $104 million to $111 million. The company expects its non-GAAP adjusted earnings per share from continuing operations, including share-based compensation, for full-year 2018 to be a loss of $0.16 to $0.23 per diluted share. The company's non-GAAP adjusted EBITDA from continuing operations target is measured by adding back to net loss from continuing operations charges for interest, income taxes, depreciation and amortization expenses, non-cash share-based compensation expense and non-operating income and expense. Additionally, the company's adjusted EBITDA from continuing operations target excludes possible future acquisitions; other material future business developments; and due diligence, transaction and transition costs associated with acquisitions and divestitures.