Integra LifeSciences Q3 Profit Falls, Cuts FY17 Profit Outlook

(RTTNews) - Integra LifeSciences Holdings Corp. (IART) Thursday reported a sharp fall in third quarter net income to $3.16 million from $20.14 million a year ago. On a per share basis, earnings declined to $0.04 from $0.25 in the previous year. The company reported income continuing operations of $3.159 million, compared to $20.144 million last year.

On average, 14 analysts polled by Thomson Reuters expected the company to earn $0.14 per share. Analysts estimates usually exclude special items.

Revenue for the quarter increased to $278.83 million from $250.33 million a year ago. Wall Street expected $286.1 million.

Looking ahead to the full year, the company is expecting earnings in a range of $0.24 to $0.30, while its previous outlook was ina range of $0.49 to $0.55 per share. Adjusted earnings is now expected to be in a range of $1.83 to $1.87 per share, down from prior range of $1.88 to $.194 per share. Street estimates is $1.91 per share on revenue of $1.15 billion.

Revenue guidance for the quarter is currently in a range of $1.65 billion to $1.175 billion, up from $1.125 billion to $1.140 billion a year ago.

Glenn Coleman, Integra's chief financial officer said, "Full-year 2017 organic revenue growth is now expected to be about 4%, which reflects the impact from the storms and slower run rates in our dural repair and SurgiMend product lines."