Tuesday, Greatbatch, Inc. (GB), a manufacture of batteries and other components, reported increased fourth quarter earnings, compared to last year, helped by incremental revenues. The company provided an outlook for fiscal 2009.
The Clarence, New York-based company's net income rose to $8.5 million or $0.36 per share from $2.78 million or $0.12 per share in the prior- year period.
Analysts polled by Thomson Reuters expected the company to earn $0.37 per share. Analysts' estimates typically exclude special items. Quarterly sales surged 74% to $146.6 million from $84.42 million in the prior-year period. Four analysts estimated revenues of $132.20 million for the quarter.
Sales increase was driven by approximately $45.4 million of incremental revenue from acquisitions as well as 10% organic growth. Additionally, 2008 fourth quarter sales benefited from an additional week of operations. Compared to the third quarter 2008, revenue increased 8%, primarily due to the additional week of sales.
Cardiac Rhythm Management and Neuromodulation revenue jumped 27% to $77.8 million from last year. Fourth quarter results benefited from an extra week of operations.
For fiscal 2008, the company reported increased net income of $18.56 million or $0.81 per share, compared to $15.05 million or $0.67 per share last year. Analysts expected earnings of $1.28 per share. Full year revenues advanced to $546.64 million from $318.75 million a year ago. The Street anticipated revenues of $533.30 million.
Looking ahead to fiscal 2009, the company projects revenues in the range of $550 million - $600 million. Analysts currently project revenues of $569.90 million.Adjusted operating income is estimated to increase from 10.6% in 2008 to between 11.0% and 13.0% in 2009.
GB closed Tuesday's trading down $0.65 or 3.61% at $17.38 on a volume of about 778 thousand shares.
For comments and feedback contact: editorial@rttnews.com
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.