Strong Fourth Quarter Performance
Sales from continuing operations during the fourth quarter were approximately $180 million, with organic sales up 5% compared to a year ago. Adjusted diluted earnings per share were $0.43, and adjusted EBITDA from continuing operations was nearly $29 million.
Enteral Feeding Portfolio Growth
The enteral feeding portfolio grew almost 12% organically versus the prior year, reaffirming its number one position in short-term, long-term, and neonatal feeding.
Improved Financial Position and Liquidity
The company improved its financial position with $108 million of cash on hand and $135 million of debt outstanding by the end of the year, and generated $83 million of free cash flow, an increase of almost $70 million compared to the previous year.
Successful Transformation Initiatives
The company completed the divestiture of its respiratory health business and exited the deferred prosecution agreement with the DOJ, marking significant milestones in its three-year transformation process.