Integra LifeSciences Q1 Profit Tops Estimates

(RTTNews) - Integra LifeSciences Holdings Corp. (IART) reported first quarter adjusted earnings per share of $0.69, compared to $0.48, prior year. On average, 13 analysts polled by Thomson Reuters expected the company to report profit per share of $0.57, for the quarter. Analysts' estimates typically exclude special items.

The company reported GAAP net income of $45.4 million, or $0.53 per share, compared to $9.2 million, or $0.11 per share, last year.

Reported revenues were $360.1 million, an increase of 1.6% on a reported basis and an increase of 2.9% on an organic basis compared to the prior year. Analysts expected revenue of $349.81 million, for the quarter.

For the second quarter, the company expects revenues to be in a range of $372 million to $378 million, representing reported growth of approximately 44% to 46% and organic growth of 42% to 44%. Adjusted earnings per share are expected to be in a range of $0.63 to $0.67.

The company increased the lower end of its full-year 2021 revenue guidance by $5 million to a revised range of $1.525 billion to $1.535 billion, representing reported growth of 11% to 12% and organic growth of 12% to 13%. The company now projects towards the higher end of its full-year 2021 adjusted earnings per share guidance range of $2.86 to $2.93.