Integra LifeSciences Holdings Corp. (IART), a medical technology company, Thursday reported narrower loss for the third quarter compared to the same period last year.
Further the company lowered its revenue guidance for the fiscal year, while presenting its expectations for the fourth quarter.
Quarterly loss narrowed to $5.40 million or $0.07 per share from $10.69 million or $0.14 per share loss last year, on higher revenues.
Excluding items, it reported earnings of $41.6 million or $0.54 per share, an increase from $31.7 million or $0.41 per share in the prior year.
On average, analysts were expecting earnings of $0.43 per share for the quarter. Analysts' estimates typically exclude special items.
In premarket activity, the stock is trading up at 10.17%.
Revenue rose to $402.06 million from $380.83 million for the same period previous year.
Looking forward to the fourth quarter, the company expects revenue in the range of $420 million to $440 million.
For the fiscal 2025 the company now expects revenue in the range of $1.620 billion to $1.640 billion representing a reported growth of 0.6% to 1.8% compared to its previous expectation of $1.655 billion to $1.680 billion or a reported growth of 2.8% to 4.3%.
In premarket, Integra LifeSciences shares were trading at $14.22, down 7.84% on the Nasdaq.
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