The company reported profits of $45.4 million, or 53¢ per share, on sales of $360.1 million for the three months ended March 31, for a bottom-line gain of 394.5% on sales growth of 1.62% compared with Q1 2020.
Adjusted to exclude one-time items, earnings per share were 69¢, 12¢ ahead of The Street, where analysts were looking for sales of $349.8 million.
“We are pleased with the strong start to the year, having returned to organic growth in the first quarter, despite the ongoing headwinds from COVID-19,” president and CEO Peter Arduini said in a news release. “We also expect an improvement in procedures as we move through the year, positioning Integra to achieve our 2021 financial targets.”
Integra Lifesciences said it is raising the lower end of its full-year guidance by $5 million to a range of $1.525 billion to $1.535 billion. It also projects adjusted earnings per share to be in the range of $2.86 to $2.93.
Shares in IART were up 1.49% to $77.77 apiece in pre-market trading.