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Integra LifeSciences Raises FY19 Adj. EPS Outlook, Q2 Profit Surges

While reporting financial results for the second quarter, medical technology company Integra LifeSciences Holdings Corp. (IART) on Wednesday continues to project fiscal 2019 earnings in a range of $1.46 to $1.53 per share. However, the company raised adjusted earnings guidance to a range of $2.70 to $2.75 per share from its prior range of $2.65 to $2.72 per share.

Further, the company maintained its full-year revenue guidance in the range of $1.515 billion to $1.525 billion on organic revenue growth of about 4 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $2.70 per share on revenues of $1.52 billion for the year. Analysts' estimates typically exclude special items.

For the second quarter, net income surged to $29.74 million or $0.34 per share from $11.38 million or $0.14 per share in the prior-year quarter. Adjusted earnings were $0.73 per share, compared to last year's $0.60 per share. Revenues increased 4.8 percent to $383.65 million from last year's $366.19 million. Organic revenue increased 6.6 percent.

Analysts expected quarterly earnings of $0.66 per share on sales of $373.29 million.

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