Integra LifeSciences (NASDAQ: IART) reported Q3 EPS of $0.59, in-line with the analyst estimate of $0.59. Revenue for the quarter came in at $365.9 million versus the consensus estimate of $370.41 million.

• Reported revenue was $365.9 million, an increase of 31.2% compared to the third quarter of 2017 with the acquisition of Codman contributing $78.9 million, and organic revenues increased 6.2% over the third quarter of 2017;
• GAAP earnings per share was $0.15, compared to $0.04 in the third quarter of 2017;
• Adjusted earnings per share was $0.59, reflecting an increase of 31.1% compared to the third quarter of 2017;
• The company is revising its full-year 2018 guidance as follows:
  • Total revenue is now expected to be a range of $1.467 billion to $1.472 billion (previously $1.475 billion to $1.490 billion);
    • Guidance range reflects lower forecasted revenue from extremities orthopedics, Codman revenue in select countries outside the U.S. where commercial operations have not yet transferred to Integra ("Day 2 Countries"), and a lower foreign currency benefit;
  • Organic revenue growth guidance is now expected to be approximately 4% (previously approximately 5%);
• The company is reiterating its full-year 2018 GAAP earnings per share of $0.71 to $0.77 and adjusted earnings per share of $2.36 to $2.42.

"Despite some revenue softness in the second half of the year, we continue to make solid progress with the Codman integration and the channel expansion efforts, particularly in Regenerative Technologies," said Peter Arduini, Integra's president and chief executive officer. "We remain confident that 2019 organic sales will grow within our targeted long-term range of 5% to 7% and accelerate from our full-year 2018 results."

GUIDANCE:

Integra LifeSciences sees FY2018 EPS of $2.36-$2.42, versus the consensus of $2.40. Integra LifeSciences sees FY2018 revenue of $1.467-1.472 million, versus the consensus of $1.49 million.

For earnings history and earnings-related data on Integra LifeSciences (IART) click here.