(RTTNews) - Friday, Plainsboro, New Jersey - based medical instruments manufacturer Integra LifeSciences Holdings Corp.
(IART) announced a 26% increase in fourth quarter revenue compared to the prior year. The company has not completed the review for the fourth quarter and full year financial statements, however expects to report fourth quarter GAAP earnings per share within or below its previous guidance and adjusted earnings per share at or above the top end of its earlier guidance.
Further, the company provided guidance for first, second, third and fourth quarter and updated full year guidance for full year 2008.
For the fourth quarter, the company reported revenue of $157.6 million for the fourth quarter compared to $125.395 million last year.
Integra expects fourth quarter GAAP earnings to be within or below its previous outlook of $0.38 to $0.43 per share. The guidance includes charges of $4.6 million or $0.16 per share. Adjusted earnings per share are expected to be at or above the top end of its previously provided adjusted earnings per share guidance range of $0.45 to $0.50.
For the full year 2007, the company expects adjusted earnings per share in a range of $1.57 to $1.62.
Further ahead, the company expects first quarter-adjusted earnings in a range of $0.39 to $0.42 per share on $150 to $155 million revenue, and $0.45 to $0.48 per share for the second quarter on $159 to $164 million revenue.
For the third quarter, the company sees adjusted earnings per share of $.48 to $0.52 on $156 to $161 million revenue and for the fourth quarter expects $0.68 to $0.73 per share or $170 to $175 million revenue.
For the full year 2008, the company forecasts adjusted earnings per share of $2 to $2.15 on revenue in the range of $635 - $655 million. Earlier, the company was expecting GAAP earnings per share in a range of $1.33-$1.38. Adjusted earnings per share were expected between $1.57 and $1.62.
IART is currently trading at $41.88, up $2.04 or 5.12% on a volume of 446K shares.
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