Integra LifeSciences Q4 Profit Tops View, But Revenues Miss

(RTTNews) - Integra LifeSciences Holdings Corp. (IART) reported that its net income for the fourth quarter of 2019 declined to $15.3 million or $0.18 per share, from last year's $25.1 million or $0.29 per share. The decrease was attributable to expenses associated with the Rebound Therapeutics acquisition and tax benefits received in the fourth quarter of 2018.

Adjusted net income for the fourth quarter of 2019 was $58.9 million or $0.68 per share, compared to $56.2 million, or $0.65 per share in the prior year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.67 per share for the fourth-quarter. Analysts' estimates typically exclude special items. Total reported revenues for the fourth quarter were $395.1 million, an increase of $11.8 million, or 3.1% from the prior year. Fourth quarter organic sales increased 4.6% over the prior year. Analysts expected revenues of $397.5 million for the quarter.

The company reiterated full-year 2020 total revenue guidance in the range of $1.55 billion to $1.57 billion, representing organic sales growth of about 5%.

The company expects GAAP earnings per share for the full year to be between $1.40 and $1.45 and adjusted earnings per share to be in the range of $3.00 to $3.05.

Wall Street currently is looking for fiscal year 2020 earnings of $3.00 per share on annual revenues of $1.59 billion.