Integer Holdings Corp (NYSE: ITGR) reported Q4 EPS of $1.25, $0.08 better than the analyst estimate of $1.17. Revenue for the quarter came in at $326 million versus the consensus estimate of $321.33 million.

Fourth Quarter 2019 Highlights

• Sales increased 7% to $326 million.
• GAAP income decreased $8 million to $11 million, down 42%. Adjusted income increased $7 million to $41 million, up 20%.
• GAAP diluted EPS decreased $0.25 per share to $0.33 per share, down 43%. Adjusted diluted EPS increased $0.21 per share to $1.25 per share, up 20%.
• Adjusted EBITDA increased $6 million to $73 million, up 8%.
• Completed the bolt-on acquisition of certain assets of US BioDesign, adding complex braiding capability to the Cardio & Vascular portfolio.
• Paid down $14 million of debt, reducing total debt to $815 million.

“Integer delivered strong earnings growth in 2019 as our Manufacturing Excellence strategic imperative is delivering operational and financial improvements. We exceeded our original 2019 adjusted profit guidance as we continue to deliver on our commitments to investors. We further strengthened our leadership team to enable us to accelerate the execution of our strategy and deliver for our customers,” said Joseph Dziedzic, Integer’s president and chief executive officer. “Yesterday we completed a bolt-on acquisition, which further strengthens our R&D capabilities and expands our global footprint into Israel, which is widely recognized as a leading innovation center.

Our 2020 financial guidance delivers on our commitment to grow profit at least twice as fast as our sales growth rate, while making investments to execute our remaining strategic financial objective to deliver above market revenue growth.”

GUIDANCE:

Integer Holdings Corp sees FY2020 EPS of $5.10-$5.30, versus the consensus of $5.00. Integer Holdings Corp sees FY2020 revenue of $1.29-1.31 billion, versus the consensus of $1.29 billion.

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