LifeSciences Holdings Q4 profit rises; revenues up 26%; reaffirms Q1, Q2, Q3, Q4 outlook

Posted on Saturday, May 17, 2008 1:09 PM

(RTTNews) - LifeSciences Holdings Corp. (IART) posted fourth quarter net income of $5.4 million or $0.19 per share, down from $10.1 million or $0.34 per share in the preceding year quarter. Adjusted net income for the quarter rose to $15.6 million or $0.54 per share from $12.5 million or $0.42 per share in the previous year quarter. On average, ten analysts polled by First Call/Thomson Financial expected the company to earn $0.49 per share for the fourth quarter. Total revenues for the quarter increased 26% to $157.6 million from $125.4 million in the prior year quarter. Nine analysts had a consensus revenue estimate of $153.41 million for the fourth quarter. For fiscal 2007, net income was $33.5 million or $1.13 per share, compared to $29.4 million or $0.97 per share in the year-ago. Adjusted net income for the quarter was $47.1 million or $1.59 per share, compared to $42.9 million or $1.38 per share in the prior year. Total revenues for the year increased 31% to $550.5 million from $419.3 million in the preceding year. Looking ahead, the company expects first quarter GAAP earnings of $0.29 to $0.32 per share and adjusted earnings of $0.39 to $0.42 per share Previously reported revenue guidance for the first quarter of 2008, on February 29, 2008, was $150 million to $155 million. The Company expects first quarter 2008 revenues to be in excess of the street consensus and at or above the upper end of its previously reported guidance range. Analysts expect earnings of $0.33 per share for the quarter on revenue of $546.34 million. The company reaffirms second quarter GAAP earnings of $0.43 to $0.46 per share and adjusted earnings of $0.45 to $0.48 per share on $159 to $164 million revenue. For the third quarter, the company still sees GAAP earnings of $0.47 to $0.51 per share and adjusted earnings per share of $.48 to $0.52 on $156 to $161 million revenue. The company reiterates fourth quarter GAAP earnings of $0.68 to $0.73 per share and adjusted earnings per share of $0.68 to $0.73 per share on $170 to $175 million revenue. For the full year 2008, the company updated its GAAP earnings of $1.87 to $2.02 per share and adjusted earnings per share forecast to $2 to $2.15. Previously reported guidance for the full year 2008 was $635 million to $655 million. The Company expects to update full year 2008 revenue guidance after reporting the first quarter. Analysts expect earnings of $1.60 per share for the year on revenue of $642.51 million. The company also announced appointment of John Henneman as permanent Chief Financial Officer. For comments and feedback: contact editorial@rttnews.com