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Home » Integra Lifesciences beats The Street in Q1

Integra Lifesciences beats The Street in Q1

April 27, 2022 By Danielle Kirsh

integra-lifesciences-logoIntegra Lifesciences (NSDQ:IART) posted first-quarter results that beat the overall consensus on Wall Street.

The Princeton, N.J.-based surgical and medical instrument company reported profits of $32.9 million, or 39¢ per share, on sales of $376.6 million for the three months ended March 31, for a bottom-line loss of 27.5% on sales growth of 4.6% compared with Q1 2021.

Adjusted to exclude one-time items, earnings per share were 74¢, 6¢ ahead of The Street, where analysts were looking for sales of $362 million.

“I am pleased with the resilience shown by Integra colleagues as we navigated the COVID-19 Omicron wave early in the quarter,” CEO Jan De Witte said in a news release. “With global procedure volumes improving in March, our strong execution enabled us to deliver better-than-expected first-quarter revenue with organic growth exceeding 5%.”

Integra Lifesciences in Q1 also announced the launch of its NeuraGen 3D nerve guide matrix, a resorbable implant to repair peripheral nerve discontinuities. The company says the NeuraGen 3D is the only nerve repair product specifically engineered to create an optimized environment for mid-gap nerve regeneration, compared with hollow nerve conduits alone.

Integra Lifescience expects reported revenues for Q2 2022 to be in the range of $392 million to $400 million to represent reported growth of 0.5% to 2.5% and organic growth of 2.8% to 4.8%. Adjusted EPS is expected to be in the range of 78¢ to 82¢.

Shares in IART were up more than 4% to $63.60 apiece in morning trading. MassDevice’s MedTech 100 Index, which includes stocks of the world’s largest medical device companies, was down slightly.

Filed Under: Business/Financial News, Featured, MassDevice Earnings Roundup, News Well, Wall Street Beat Tagged With: Integra LifeSciences

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About Danielle Kirsh

Danielle Kirsh is an award-winning journalist and senior editor for Medical Design & Outsourcing, MassDevice, and Medical Tubing + Extrusion, and the founder of Women in Medtech and lead editor for Big 100. She received her bachelor's degree in broadcast journalism and mass communication from Norfolk State University and is pursuing her master's in global strategic communications at the University of Florida. You can connect with her on Twitter and LinkedIn, or email her at [email protected].

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