Integra LifeSciences (NSDQ:IART) shares ticked up in pre-market trading today after the medical device company reported third-quarter numbers that topped estimates.
Plainsboro, N.J.-based Integra posted losses of -27.6 million, or -32¢ per share, on sales of $379.1 million for the three months ended Sept. 30, marking a swing to red ink on sales growth of 3.6% compared with Q3 2018.
Adjusted to exclude one-time items, earnings per share were 68¢, 3¢ ahead of the consensus on Wall Street, where analysts were looking for sales of $376.9 million.
“We are pleased to have exceeded our third-quarter revenue and earnings guidance. For the second quarter in a row, our global CSS segment delivered broad-based strength and drove the outperformance,” president & CEO Peter Arduini said in prepared remarks. “We have completed all the substantial Codman transition services activities and are reaffirming our full-year 2019 guidance for organic revenue growth and adjusted EPS.”
Integra stood pat on its outlook for adjusted EPS at $2.70 to $2.75 but tightened its full-year revenue guidance to between $1.517 billion and $1.522 billion, compared with $1.515 billion to $1.525 billion previously.
IART shares, which closed down -7.4% at $55.95 apiece yesterday, rose 1.5% to $56.76 today in pre-market trading.