Greatbatch Profit Tops Estimate, Revenue Misses; Lifts FY Guidance

(RTTNews) - Medical device maker Greatbatch Inc (GB) Thursday reported third-quarter net earnings of $14 million or $0.54 per share compared with $11 million or $0.44 per share last year.

Excluding items, adjusted earnings for the quarter were $0.64 per share compared with $0.57 per share a year ago.

Revenues for the quarter were $171.7 million compared with $167.7 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.58 per share on revenues of $172.5 million for the quarter. Analysts' estimates typically exclude special items.

For the full year, the company now expects adjusted earnings of $2.32 to $2.38 per share on revenues of $695 million to $705 million. It earlier expected earnings of $2.25 to $2.35 per share on revenues of $685 million to $705 million.

Analysts expect earnings of $2.32 per share on revenues of $699.5 million for the year.

The company said the updated guidance reflects the strong third quarter results, the addition of CCC Medical Devices, and its expectations for the fourth quarter.