Integra LifeSciences Lowers 2017 Organic Revenue Growth Guidance - Quick Facts

(RTTNews) - Integra LifeSciences Holdings Corp. (IART) announced the company is maintaining its full-year GAAP and adjusted earnings per share guidance ranges of $0.49 to $0.55 and $1.88 to $1.94, respectively. The company tightened full-year 2017 revenue guidance to a new range of $1.125 billion to $1.140 billion, from $1.120 billion to $1.140 billion, reflecting changes in foreign currency expectations and overperformance in Derma Sciences. The company lowered full-year 2017 organic revenue growth range to 6.0% to 7.0%, down from previous range of 7.0% to 8.5%, which reflects slower growth in Dural Repair.

Adjusted earnings per share for the second quarter of 2017 was $0.45, an increase of 12.5% over the prior year quarter. On average, 15 analysts polled by Thomson Reuters expected the company to report profit per share of $0.45 for the quarter. Analysts' estimates typically exclude special items.

Total revenues for the second quarter were $282.2 million, reflecting an increase of 13.2%, over the second quarter of 2016. Analysts expected revenue of $283.7 million for the quarter.

Sales in Orthopedics and Tissue Technologies increased by 34.2%, which includes the acquired sales from Derma Sciences and strength in the regenerative product portfolio. Sales in Specialty Surgical Solutions increased 1.1% compared to the prior-year period. Excluding the revenue contribution from acquisitions and the effect of currency exchange rates and discontinued products, revenues increased 4.6% over the second quarter of 2016.