Integra Stock Dips on Lowered Guidance After Q3 Sales Miss
Integra LifeSciences (Nasdaq: IART) shares declined after reporting third-quarter results that fell short of consensus forecasts.
Shares of IART fell over 8% to $14.15 apiece after the market opened. The company reported a loss of $5.4 million, or 7¢ per share, on sales of $402.1 million.
Although Integra recorded a 50% bottom-line gain and a 5.6% sales increase, sales came up short of forecasts, with experts projecting $414.3 million in revenue. The company attributed the sales shortfall to "supply interruptions".
The Codman Specialty Surgical business generated around 70% of revenue, at $292 million. Adjusted earnings per share were 54¢, exceeding expectations by 11¢.
The company attributed the sales shortcomings to "supply interruptions".
Author's summary: Integra LifeSciences' stock dips due to lowered guidance after Q3 sales miss.
- Loss: $5.4 million
- Loss per share: 7¢
- Sales: $402.1 million
- Adjusted earnings per share: 54¢
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