Integra LifeSciences Q4 Profit Surges; Results Beat View

(RTTNews) - Integra LifeSciences Holdings Corp. (IART) Thursday reported a sharp increase in fourth-quarter net income to $44.36 million or $0.56 per share from $28.25 million or $0.35 per share a year ago.

The latest quarter's results include a net tax benefit of $37.9 million, or $0.47 per share, associated with the U.S. Tax Cuts and Jobs Act.

Adjusted earnings for the quarter were $0.64 per share, compared to $0.52 per share last year.

On average, 14 analysts polled by Thomson Reuters expected the company to earn $0.56 per share. Analysts' estimates usually exclude special items.

Revenue for the quarter increased 44.2 percent to $368.60 million from $255.66 million a year ago. Wall Street expected revenues of $356.41 million.

The company noted that acquisitions contributed $103.3 million to the fourth quarter, while organic sales were higher by 5.8 percent over the prior-year quarter.

Looking ahead to fiscal 2018, the company now expects to be at the high-end of its previously provided revenue guidance range of $1.46 billion to $1.48 billion, largely due to favorable foreign currency exchange rates.

The company expects full-year reported earnings per share in a range of $0.60 to $0.70, and also expects full-year adjusted earnings per share to be at the high-end of its previously provided range of $2.25 to $2.35, due to a lower expected tax rate associated with the U.S. Tax Cuts and Jobs Act.

The Street expects the company to earn $2.30 per share for the year on revenues of $1.47 billion.