Integer today posted third quarter earnings that beat expectations on Wall Street.
The Frisco, Texas-based company posted profits of $13.7 million, of 43¢ per share, on sales of $363.3 million for the 3 months ended September 29, seeing bottom-line growth of 19.5% while sales grew 4.8% compared to the same period last year.
Adjusted to exclude 1-time items, earnings per share were 82¢, just ahead of the 81¢ consensus on Wall Street, where analysts expected to see sales of $354.2 million.
“Integer delivered another quarter of solid year-over-year sales growth, driven by strong performance in our Cardio & Vascular, Advanced Surgical, Orthopedics and Portable Medical, and Non-Medical product lines. Cash flow generation remains strong and enabled further accelerated debt pay down in the quarter. We are on track to deliver results within our original 2017 guidance after adjusting for the impact of foreign exchange,” prez & CEO Joseph Dziedzic said in a press release.
The company adjusted its outlook for the year, expecting to post sales of between $1.42 billion and $1.435 billion, up from previous outlook of between $1.4 and $1.43 billion.
Earnings per share expectations were also adjusted, expecting to see between $2.55 and $2.75, down from previous guidance of between $2.55 and $2.95.
Integer shares fell slightly today, down 1% to close at $50.20.
