Greatbatch Q2 Adj. Profit Tops View; Backs FY14 Outlook

(RTTNews) - Medical devices maker Greatbatch Inc (GB) reported second-quarter net earnings of $12.3 million or $0.48 per share, compared to $9.8 million or $0.39 per share last year.

Excluding items, adjusted earnings for the latest second quarter were $15.5 million or $0.60 per share compared with $13.9 million or $0.56 per share a year ago.

Revenues for the quarter were $174.3 million compared with $148.3 million in the prior year.

On average, five analysts polled by Thomson Reuters estimated earnings of $0.59 per share on revenues of $177.06 million for the quarter. Analysts' estimates typically exclude special items.

Looking ahead to fiscal 2014, the company continues to expect net earnings of $1.94 to $1.99 per share, adjusted earnings of $2.25 to $2.35 per share and revenues of $685 million to $705 million. Analysts expect earnings of $2.33 per share on revenues of $705.60 million.