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 dropped over 8% to $14.15 apiece after the market opened. The company reported a loss of $5.4 million, equivalent to a loss of 7¢ per share, on sales of $402.1 million.
- Revenue increased by 5.6%.
- Adjusted earnings per share were 54¢, exceeding expectations by 11¢.
The company attributed the sales shortcomings to "supply interruptions."
The Codman Specialty Surgical business generated approximately 70% of the company's revenue, at $292 million.
Author's summary: Integra LifeSciences' stock dips due to lowered guidance.
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