Integra LifeSciences Q4 Adj. Profit Declines, Organic Revenues Down 1.2%; Jan De Witte To Retire

(RTTNews) - Integra LifeSciences Holdings Corporation (IART) reported fourth quarter GAAP net income of $19.8 million, or $0.25 per share, compared to $52.9 million, or $0.63 per share, in the prior year. Adjusted earnings per share were $0.89, compared to $0.94. On average, 11 analysts polled by Thomson Reuters expected the company to report profit per share of $0.90, for the quarter. Analysts' estimates typically exclude special items.

Fourth quarter reported revenues were $397.0 million, a decrease of 0.2% on a reported basis and a decrease of 1.2% on an organic basis compared to the fourth quarter 2022. Revenue increased 3.6% on an organic basis excluding Boston. Analysts on average had estimated $399.34 million in revenue.

For the full-year 2024, the company expects revenues to be in a range of $1.60 billion to $1.62 billion. Adjusted earnings per share are expected to be between $3.15 and $3.25.

For the first quarter 2024, the company expects reported revenues in the range of $360 million to $365 million. Adjusted earnings per share are expected to be in a range of $0.53 to $0.57.

Also, Integra LifeSciences Holdings Corporation announced that Jan De Witte has informed the Board of his intention to retire from his position as president and chief executive officer of Integra following the appointment of a successor, which the company expects to occur by the end of 2024. Stuart Essig, Integra's chairman, has been appointed to the role of executive chairman, effective immediately.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.