Integra LifeSciences Q2 Profit Down; Backs FY Outlook

(RTTNews) - Medical device maker Integra LifeSciences Holdings Corp. (IART) posted a decline in its earnings for the second quarter, on lower revenues, and backed its full-year guidance. While adjusted earnings per share for the quarter beat estimates, revenues came in below consensus.

The company reported profit for the quarter of $3.4 million or $0.12 per share, compared to $8.5 million or $0.30 per share in the year-ago quarter.

Adjusted net income per share for the second quarter was $0.60. On average, 14 analysts polled by Thomson Reuters expected earnings per share of $0.55 for the quarter. Analysts' estimates typically exclude one-time items.

Total revenues for the second quarter were $205.5 million, lower than last year's $210.2 million. Currency exchange rates had a negligible effect on revenues, the company said. Analysts estimated revenues of $207.30 million for the quarter.

Looking ahead to the full year 2013, the company said it continues to expect earnings per share of $0.90 - $1.20, adjusted earnings per share of $2.40 - $2.70, on revenues of $840 million - $852 million. Analysts foresee earnings per share of $2.52, on revenues of $843.59 million.