Revenue Growth
Total sales for the quarter were $321.3 million, representing a year-over-year increase of 2.9% as reported and 3.8% in constant currency, which was better than the guidance provided.
Earnings Increase
Adjusted net income of $29.6 million increased 19.6% year-over-year and adjusted diluted net earnings per share of $0.95 increased 20.1% year-over-year.
Strong Performance in Key Segments
Orthopedics saw constant currency sales growth of 3.9%, led by double-digit sales growth in foot and ankle products and strong demand for BioBrace. General Surgery also grew 3.8%, driven by AirSeal and smoke evacuation with double-digit demand.
Supply Chain Improvement
Progress has been made in reducing the number of SKUs on backorder, with expectations to be in a better position by year-end.
Cash Flow and Debt Management
Cash flow from operations was $41.5 million compared to $29.1 million in the first quarter of 2024. Long-term debt decreased from $905.1 million at the end of 2024 to $891.4 million.