Integra LifeSciences (NSDQ:IART) today reported second-quarter results that beat the consensus estimate for both sales and earnings and raised its earnings outlook for the rest of the year.
The Plainsboro, N.J.-based medical device company said profits rose 161.4% to $29.7 million, or 34¢ per share, on sales growth of 4.8% to $383.6 million compared with Q2 2018.
Adjusted to exclude one-time items, earnings per share were 73¢, 7¢ ahead of the consensus on Wall Street, where analysts were looking for sales of $373.3 million.
“Strong performance across our entire product portfolio, and in particular new product launches, drove our second-quarter results,” president & CEO Peter Arduini said in prepared remarks. “As we near the end of the Codman integration, we are experiencing a more stable operating environment and realizing the strategic benefits of the combined organizations.”
Integra raised its full-year adjusted EPS forecast to $2.70 to $2.75, up from $2.65 to $2.72, previously, and said it still expects to report sales of $ $1.52 billion to $1.53 billion.
IART shares closed up 1.5% at $55.48 yesterday.
