~ Company Reaffirms Full-Year Sales & Adjusted Diluted EPS Guidance ~
Note: A webcast of Integer’s conference call and accompanying presentation slides will be available at 5:00 p.m. EDT today at http://investor.integer.net.
FRISCO, Texas, May 08, 2017 (GLOBE NEWSWIRE) -- Integer Holdings Corporation (NYSE:ITGR), a leading medical device outsource manufacturer, today announced results for the three months ended March 31, 2017.
First Quarter 2017 Highlights
- Sales of $345 million, a 4% increase, reflecting a return to growth following four quarters of decline.
- GAAP: Net Loss of $4.3 million; Diluted EPS of $(0.14) per share.
- Non-GAAP: Adjusted Net Income of $12.9 million; Adjusted Diluted EPS of $0.41 per share.
? Includes negative impact on EPS of approximately $0.10 from foreign currency versus first quarter 2016. - Generated $39 million of Cash Flow from Operations and repaid $29 million of debt.
- Reduced interest rate by 75 bps on $1.0 billion of debt.
- Company reaffirms 2017 Sales and Adjusted Diluted EPS outlook.
“First quarter results are in-line with our full-year expectations and demonstrate continued progress with our customers as we move our business back to a growth trajectory following a challenging 2016,” said Joseph Dziedzic, Integer’s interim president and chief executive officer. “With the initial phase of our integration efforts nearly behind us, we now turn our focus to optimizing our newly integrated business processes and continuing to serve our customers with differentiated innovation and services. We remain focused on generating strong cash flow to invest for organic growth and to accelerate the pay down of our debt. The first quarter was a good start to the year and supports our reaffirmed 2017 outlook.”
