Integra LifeSciences Raises FY19 Adj. EPS Outlook, Q2 Profit Surges

(RTTNews) - While reporting financial results for the second quarter, medical technology company Integra LifeSciences Holdings Corp. (IART) on Wednesday continues to project fiscal 2019 earnings in a range of $1.46 to $1.53 per share. However, the company raised adjusted earnings guidance to a range of $2.70 to $2.75 per share from its prior range of $2.65 to $2.72 per share.

Further, the company maintained its full-year revenue guidance in the range of $1.515 billion to $1.525 billion on organic revenue growth of about 4 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $2.70 per share on revenues of $1.52 billion for the year. Analysts' estimates typically exclude special items.

For the second quarter, net income surged to $29.74 million or $0.34 per share from $11.38 million or $0.14 per share in the prior-year quarter. Adjusted earnings were $0.73 per share, compared to last year's $0.60 per share. Revenues increased 4.8 percent to $383.65 million from last year's $366.19 million. Organic revenue increased 6.6 percent.

Analysts expected quarterly earnings of $0.66 per share on sales of $373.29 million.