Integra LifeSciences Raises 2016 Revenue Guidance

(RTTNews) - Integra LifeSciences Holdings Corp. (IART) raised its full-year 2016 revenue guidance to a new range of $992 million to $1.002 billion, up from prior guidance of $985 million to $1.0 billion. The Company raised its full-year 2016 organic revenue growth to 9% from its previous guidance of approximately 8%.

The company also raised its full-year GAAP and adjusted earnings per share guidance by $0.04 per share and narrowing our guidance range to a new range of $1.78 - $1.88 and $3.43 - $3.53, respectively. This change reflects the impact from the adoption of the new accounting change, the expected additional share dilution on the 2016 convertible notes and warrants, and a slight outperformance in the second quarter results.

Analysts polled by Thomson Reuters expect the company to report earnings of $3.44 per share and revenues of $994.77 million for fiscal year 2016. Analysts' estimates typically exclude special items.