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