Integer Holdings (NYSE:ITGR) earnings for the second quarter fell below Wall Street estimates.
The Frisco, Texas-based medical device contract manufacturer posted profits of $23 million or 70¢ per share, on sales of $314 million for the three months ended June 29. Earnings per share were 18¢ behind the average estimate on Wall Street, where analysts were looking for sales of $379 million.
The results were adjusted to exclude one-time items such as the $600 million sale in July of its advanced surgical and orthopedics product lines to Viant (formerly MedPlast, LLC). The AS&O divestiture enabled the company to pay down debt by $548 million.