Integra LifeSciences Report Upbeat Q3 Results; Raises Full-year Earnings Outlook

(RTTNews) - Integra LifeSciences Holdings Corporation (IART) on Tuesday reported higher earnings in the third quarter driven by strength across most of its product portfolio. The company also raised its full-year adjusted earnings outlook, better than analysts' view.

Integra reported net income of $43.2 million, or $0.51 per share, in the third quarter, compared with $32.3 million, or $0.38 per share, in the prior year.

Excluding items, earnings of $73.1 million or $0.86 per share beat the average estimate of thirteen analysts polled by Thomson Reuter at $0.72 per hare.

Revenue for the quarter increased 4.5% year-over-year to $386.9 million. The consensus estimate was for $384.58 million.

Further, the company has raised its full-year adjusted earnings per share outlook to the range of $3.16 to $3.20 from $2.98 to $3.05. The consensus estimate stands at $3.02 per share.

Full-year revenue is expected in the range of $1.54 billion- $1.55 billion. Analysts see revenue of $1.54 billion for the period.

Looking forward to the the fourth quarter, Integra expects revenue of $403 million and adjusted earnings per share to be in a range of $0.82 to $0.86.

Analysts expect the company to report earnings of $0.81 per hare on revenue of $409.65 million in the fourth quarter.