Acelity L.P. Inc. (1557939) SEC Filing 10-K Annual report for the fiscal year ending Thursday, December 31, 2015

Earnings Press Release
10-K Annual Report
10-K YoY Changes
Acelity L.P. Inc.
CIK: 1557939

ACELITY L.P. INC. REPORTS

FOURTH QUARTER AND FULL YEAR FINANCIAL RESULTS FOR 2015

Total Revenue for the Fourth Quarter and Full Year of 2015 Grows 3.4% and 4.0%, respectively,

on a Constant Currency Basis

Fourth Quarter Financial Highlights


•	Revenue for the fourth quarter of 2015 of $483.8 million, grew 0.2% as reported on a GAAP basis from the prior-year period and grew 3.4% on a constant currency basis, bringing revenue for the full year of 2015 to $1.867 billion, which was comparable to the prior year as reported on a GAAP basis and up 4.0% on a constant currency basis


•	Revenue from Advanced Wound Therapeutics ("AWT") decreased 1.3% as reported on a GAAP basis and grew 2.5% on a constant currency basis, led by solid volume growth in advanced devices compared to the prior-year period


•	Revenue from Regenerative Medicine ("RM") grew 6.9% as reported on a GAAP basis and grew 8.4% on a constant currency basis, led by double-digit increases in revenue related to breast reconstruction procedures in the U.S.


•	Loss from continuing operations was $15.5 million, as reported on a GAAP basis, compared to $30.9 million for the prior-year period


•	Adjusted EBITDA from continuing operations¹ of $183.5 million, declined 7.5% as reported from the prior-year period and was down 5.3% on a constant currency basis, achieving an Adjusted EBITDA margin of 37.9%

Operational Highlights


•	Closed the acquisition of the SNaP® business from Spiracur, Inc., expanding our offering in disposable, portable, mechanical negative pressure wound therapy ("NPWT") technology, allowing Acelity’s sales and service channels to support the expansion of the SNaP® Therapy System to patients and their care teams around the world who need access to NPWT devices


•	Returned the Regenerative Medicine segment to growth for the full year with two consecutive quarters of strong growth led by revenue from breast reconstruction procedures and international sales

Joe Woody, President and Chief Executive Officer, commented, “Our strong fourth quarter performance reflects the realization of strategic investments we’ve made in our business and employees to drive sustainable, long-term growth. With five consecutive quarters of organic revenue growth, 2015 marks a pivotal year for Acelity as we continue to execute our strategy.

“We delivered a solid quarter in both Advanced Wound Therapeutics and Regenerative Medicine, led by continued volume increases in advanced devices as well as double-digit growth in revenue from breast reconstruction procedures. Sales of our expansion products, led by Prevena™ and Revolve™, accelerated in the fourth quarter and continue to diversify our growth profile.

“We continue to provide value to our customers through focused innovation and an enhanced portfolio of offerings across our business. The solid momentum we generated in 2015 supports our confidence in our ability to sustain long-term growth.”

The following information was filed by Acelity L.P. Inc. on Tuesday, January 26, 2016 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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