IART Posts 9.21% First Quarter Sales Increase
Tracey Romero • Fri, May 5th, 2017
Integra LifeSciences Holding Corp. (IART) announced on Wednesday April 26, 2017 that sales for the first quarter of 2017 rose 9.2% (excluding currency and acquisitions). Sales for the quarter were $258.6 million, which is up from $236.7 million reported in the first quarter of 2016.
IART, which is headquartered in Plainsboro, New Jersey, is a surgical and medical instrument manufacturing company. The following table shows the sales details for 2017.
Glenn Novarro, an analyst with RBC Capital Markets, LLC, said in his report, “Overall IART reported solid [first quarter 2017] results and reiterated its full-year 2017 revenue and EPS guidance.”
He added, “Both global segments contributed to the growth with revenue in Orthopedics and Tissue Technologies and Specialty Surgical Solutions increasing by 19.6% and 3.4%, respectively, compared to the prior year.”
Peter Arduini, company president and chief executive officer in a release said, "We are off to a solid start in 2017, which gives us increased confidence in delivering on our full-year 2017 financial guidance.”
Arduini added, "We completed the acquisition of Derma Sciences, launched several new products that will drive growth in the second half of the year, and remain on track to complete the planned acquisition of Codman Neurosurgery in the fourth quarter of 2017.”