Business
Integra LifeSciences Reports Fourth Quarter and Full-Year 2019 Financial Results and Provides 2020 Financial Guidance
PRINCETON, N.J., Feb. 19, 2020 (GLOBE NEWSWIRE) -- Integra LifeSciences Holdings Corporation (NASDAQ: IART) today reported financial results for the fourth
About this update from Integra Lifesciences Holdings Corporation
[{"type":"text","content":"PRINCETON, N.J., Feb. 19, 2020 (GLOBE NEWSWIRE) -- Integra LifeSciences Holdings Corporation (NASDAQ: IART) today reported financial results for the fourth quarter and full year ended December 31, 2019 and issued its financial guidance for 2020, consistent with the preliminary results and guidance provided on January 14, 2020.\n Highlights: Fourth Quarter 2019 Reported revenue increased 3.1% to $395.1 million and organic sales increased 4.6% over the fourth quarter 2018.GAAP earnings per diluted share were $0.18, compared to $0.29 in the fourth quarter 2018.Adjusted earnings per diluted share were $0.68, compared to $0.65 in the fourth quarter of 2018. Full-Year 2019 Reported revenue increased by 3.1% to $1,517.6 million, and organic sales increased 4.8% over the full-year 2018.GAAP earnings per diluted share were $0.58, compared to $0.72 in 2018.Adjusted earnings per diluted share amounted to $2.74, a 13.2% increase over the prior year, which represents the sixth consecutive year of double-digit growth. 2020 Company Guidance The Company expects full-year 2020 reported revenue in the range of $1.55 billion to $1.57 billion, representing approximately 3% growth at the midpoint.The Company expects full-year 2020 organic sales growth, which excludes the effect of foreign currency, acquisitions, divestitures and discontinued products, to be approximately 5%.The Company expects full-year GAAP earnings per diluted share to be in the range of $1.40 to $1.45, and full-year adjusted earnings per diluted share to be in the range of $3.00 to $3.05. Fourth Quarter 2019 Financial Summary Total reported revenues for the fourth quarter were $395.1 million, an increase of $11.8 million, or 3.1%, over the fourth quarter of 2018. Fourth quarter organic sales increased 4.6% over the prior year. The Company reported GAAP net income of $15.3 million, or $0.18 per diluted share, in the fourth quarter of 2019, compared to GAAP net income of $25.1 million, or $0.29 per diluted share, in the prior year. The decrease was attributable to expenses associated with the Rebound Therapeutics Corporation (\"Rebound\") acquisition and tax benefits received in the fourth quarter of 2018. Adjusted EBITDA for the fourth quarter of 2019 was $91.6 million, compared to $88.8 million in the fourth quarter of the prior year. For the fourth quarter of 2019, adjusted EBIT...