Integer Holdings Corp (NYSE: ITGR) reported Q1 EPS of $1.00, $0.19 better than the analyst estimate of $0.81. Revenue for the quarter came in at $315 million versus the consensus estimate of $301.84 million.

• GAAP and Non-GAAP Sales from continuing operations increased 8% to $315 million. The increase was 4% excluding the impact of a long-term agreement signed in the first quarter with a current customer for their existing products. This agreement contains terms resulting in an accrual of $11.5 million in sales for in-process material.
• GAAP income from continuing operations increased $8 million to $21 million, an increase of 63%. Non-GAAP adjusted income from continuing operations increased $12 million to $33 million, an increase of 61%.
• Adjusted EBITDA from continuing operations increased 22% to $66 million.
• GAAP diluted EPS from continuing operations increased $0.25 per share to $0.65 per share, an increase of 63%. Non-GAAP adjusted diluted EPS from continuing operations increased $0.37 per share to $1.00 per share, an increase of 59%.
• Paid down $15 million of debt, reducing total outstanding debt to $912 million, achieving a leverage ratio of 3.4x adjusted EBITDA.

“Integer delivered strong revenue and profit growth in the quarter, consistent with our 2019 quarterly growth expectations,” said Joseph Dziedzic, Integer’s president and chief executive officer. “We are on track to deliver on our improved full year guidance, which reflects a slight increase in sales and EPS,” Mr. Dziedzic continued.

GUIDANCE:

Integer Holdings Corp sees FY2019 EPS of $4.15-$4.35, versus the consensus of $4.19. Integer Holdings Corp sees FY2019 revenue of $1.265-1.28 billion, versus the consensus of $1.27 billion.

For earnings history and earnings-related data on Integer Holdings Corp (ITGR) click here.