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Integer beats Street 4Q forecasts

FRISCO, Texas (AP) _ Integer Holdings Corp. (ITGR) on Monday reported fourth-quarter net income of $7.9 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Frisco, Texas-based company said it had net income of 25 cents. Earnings, adjusted for non-recurring costs and amortization costs, came to 87 cents per share.

The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 82 cents per share.

The medical device outsource manufacturer posted revenue of $359.6 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $351.7 million.

For the year, the company reported net income of $6 million, or 19 cents per share, swinging to a profit in the period. Revenue was reported as $1.39 billion.

Integer expects full-year earnings in the range of $2.70 to $3.10 per share, with revenue in the range of $1.39 billion to $1.43 billion.

Integer shares have increased 25 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $36.95, a fall of 1 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ITGR at https://www.zacks.com/ap/ITGR


Keywords: Integer, Earnings Report