Acelity L.P. Inc. (1557939) SEC Filing 10-Q Quarterly report for the period ending Thursday, June 30, 2016

Earnings Press Release
10-Q Quarterly Report
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Acelity L.P. Inc.
CIK: 1557939

ACELITY L.P. INC. REPORTS

SECOND QUARTER AND FIRST HALF FINANCIAL RESULTS FOR 2016

Second Quarter Financial Highlights


•	Revenue for the second quarter of 2016 of $472.4 million, grew 2.3% as reported on a GAAP basis and 2.8% on a constant currency basis, from the prior-year period


•	Revenue from Advanced Wound Therapeutics ("AWT") grew 0.2% as reported on a GAAP basis and 0.8% on a constant currency basis, led by solid volume growth in advanced wound devices compared to the prior-year period


•	Revenue from Regenerative Medicine ("RM") grew 11.0% as reported on a GAAP basis and on a constant currency basis, due primarily to higher volumes associated with breast reconstruction procedures


•	Net loss was $20.1 million, as reported on a GAAP basis, up from $17.6 million net loss in the prior-year period, due primarily to the loss on extinguishment of debt and professional fees related to our second quarter debt transactions


•	Adjusted EBITDA¹ of $171.1 million, declined 1.0% as reported from the prior-year period and 0.8% on a constant currency basis, primarily due to investments in our franchise structure and sales force to drive growth

Operational Highlights


•	Building strong partnerships with leading plastic surgeons to develop and educate on an innovative breast reconstruction technique resulted in the Regenerative Medicine Team achieving the highest growth rate since 2012. Recent sales initiatives and new product introductions also contributed to strong growth in breast reconstruction procedures.


•	Acelity launched the TIELLE™ Foam Dressing Family in the United States, which includes seven new advanced dressings that can be used on a variety of wounds. This launch is strategically important, allowing the Company to further diversify the business, giving clinicians more efficient and cost effective patient solutions with Acelity’s industry leading AWT portfolio.

Joe Woody, President and Chief Executive Officer, commented, “Acelity’s solid financial performance in the second quarter marks our seventh consecutive quarter of organic revenue growth, accomplished by outstanding execution in Regenerative Medicine and strong growth in sales of our Advanced Wound Therapeutics expansion products, such as Prevena and ABThera. With our strategy in place, the results in the first half of 2016 position us to reap the benefits of our investments to broaden and complement our innovative portfolio, reach new markets, distribution channels and patients, and provide valuable solutions to clinicians.”

The following information was filed by Acelity L.P. Inc. on Tuesday, August 2, 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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