Integra LifeSciences Q3 Profit Tops Estimates; Revenues Down 1.5% On Organic Basis

(RTTNews) - Integra LifeSciences Holdings Corp. (IART) reported third quarter adjusted earnings per share of $0.80, compared to $0.68, last year. On average, 13 analysts polled by Thomson Reuters expected the company to report profit per share of $0.53, for the quarter. Analysts' estimates typically exclude special items.

Third quarter reported revenues were $370.2 million, a decrease of 2.3% on a reported basis and a decrease of 1.5% on an organic basis compared to the prior year. Analysts expected revenue of $347.98 million, for the quarter.

Due to the ongoing uncertainty related to the pandemic, the company's guidance for the full-year 2020 remains withdrawn.

"Better than expected performance in the third quarter was driven by stronger recovery trends and solid execution across the organization. Barring significant worsening of the pandemic, we believe these efforts will result in a further sequential revenue improvement in the fourth quarter," said Peter Arduini, Integra's CEO.