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Integer revises 2022 outlook amid supply chain woes

Integer (NYSE:ITGR) announced yesterday that it is revising its 2022 financial outlook due to the negative impact of the supply chain environment.

Shares of ITGR took a massive hit today after yesterday’s post-market close announcement. They slid down 12.1% at $58.27 apiece in midday trading.

Plano, Texas-based Integer said in a news release that its customer demand remains strong. However, the “challenging” supply chain situation caused a sales slide.

The company said the issues caused about a $15 million hit on its third-quarter revenues. The primary reason is “deteriorating delivery performance” and missed commitments from three suppliers. The lower sales volume and higher manufacturing costs caused about a $12 million total negative impact on the company’s third-quarter preliminary operating income.

Integer attributed heightened manufacturing costs to increased wages, freight and the addition of 5% more labo…

Integer grows sales 12% in Q2, driven by recent acquisitions

Integer (NYSE:ITGR) posted second-quarter results today that beat the overall consensus forecast on Wall Street.

The Plano, Texas-based medical device outsource manufacturer reported profits of $20.8 million, or 62¢ per share, on sales of $350 million for the three months ended July 1, for a bottom-line loss of 29.2% on sales growth of 12.2% compared with Q2 2021.

Adjusted to exclude one-time items, earnings per share were $1.04, 8¢ ahead of The Street, where analysts were looking for sales of $43.57 million.

“Integer delivered second quarter 2022 financial results consistent with our expectations, as sales grew 13% versus the first quarter 2022 and 12% versus prior year. Integer’s associates around the globe remain focused on delivering products for our customers and the patients they serve, while managing the challenges of the ongoing labor and supply chain dynamics,” President and CEO Joseph Dziedzic said in a news release.

Cardio and vascular …

Integer misses on Q1, adjusts full-year outlook

Holdings (NYSE:ITGR) posted first-quarter results today that fell short of the consensus forecast on Wall Street and adjusted its outlook for the rest of the year to include its recent acquisition of Aran Biomedical.

The Plano, Texas–based medical device contract manufacturing giant reported profits of $11 million, or $0.34 per diluted share, on sales of $311 million for the three months ended April 1, 2022, for a bottom-line decrease of 47% and sales growth of 7% compared with Q1 2021.

Adjusted to exclude one-time items, earnings per share were $0.78, $0.07 short of the Street, where analysts were looking for EPS of $0.85 on sales of $314.57 million.

Get the full story at our sister site, Medical Design & Outsourcing.

Integer misses on Q1, adjusts full-year outlook

Integer Holdings (NYSE:ITGR) posted first-quarter results today that fell short of the consensus forecast on Wall Street and adjusted its outlook for the rest of the year to include its recent acquisition of Aran Biomedical.

The Plano, Texas–based medical device contract manufacturing giant reported profits of $11 million, or $0.34 per diluted share, on sales of $311 million for the three months ended April 1, 2022, for a bottom-line decrease of 47% and sales growth of 7% compared with Q1 2021.

Adjusted to exclude one-time items, earnings per share were $0.78, $0.07 short of the Street, where analysts were looking for EPS of $0.85 on sales of $314.57 million.

The financial results were “consistent with our expectations,” Integer President and CEO Joseph Dziedzic said in a news release.

“Our dedicated associates remain focused on delivering products for our customers and the patients they serve, despite the challenging labor and s…

Integer to exhibit at Heart Rhythm 2022

Integer announced that it will be involved in the exhibitions at Heart Rhythm Society’s 2022 event.

Plano, Texas-based Integer said in a news release that attendees of the HRS 2022 event and exhibition in San Francisco (April 29-May 1) can visit the company’s booth (#1827) to learn more about design, development, manufacturing and platform technologies offered through the combination of Integer and Oscor.

Among Integer’s offerings are market-leading battery technology, finished leads, implantable pulse generators and introduced for cardiac applications. Attendees can also learn about the Destino finished guiding sheaths for OEM branding.

The company will also showcase its vertically integrated contract development and manufacturing solutions for diagnostic mapping catheters and cardiac ablation catheters.

“We’re thrilled to continue strategically expanding our capabilities to not only meet, but exceed our customers’ evolving medt…

Find out where Integer is going at MD&M West

Find out more about contract manufacturing giant Integer — including its $131 million Aran Biomedical acquisition — at MD&M West this week in Anaheim, California.

Integer is exhibiting at Booth No. 2615 at the show, which runs through April 14.

“We are truly stronger together with the addition of Oscor and Aran Biomedical to the Integer team,” said Payman Khales, president of Integer’s Cardio & Vascular business. “Our expanded capabilities not only meet our customers’ evolving needs, but additionally enable them to get to market faster. We look forward to showcasing this and more at MD&M West.”

Integer is showcasing examples of how it can expedite time to market. They include designing and developing full lead systems and sub-assemblies, vertically integrated manufacturing, and customizable services to complement customers’ existing capabilities.

Integer also has its new Xcellion Gen 3 lithium-ion fast charge rechargeable batteries. Th…

Integer beats The Street in Q4

Integer Holdings (NYSE:ITGR) today reported fourth-quarter results that beat the consensus forecast on Wall Street, projecting an even better 2022 even as it works through the effects of COVID-19 omicron variant surge.

The Plano, Texas–based medical device contract manufacturing giant earned $23.8 million, or 71¢ per share, off $313.0 million in sales for the quarter ended Dec. 31, 2021, for a bottom-line gain of 54% and sales growth of 16% compared with Q4 2020.

Adjusted to exclude one-time items, earnings per share were 99¢, 13¢ ahead of The Street, where analysts were looking EPS of 86¢ on sales of $307.7 million.

Integer also closed on its $220 million acquisition of Oscor in early December.

Get the full story on our sister site Medical Design & Outsourcing.

Integer beats The Street in Q4

Integer Holdings (NYSE:ITGR) today reported fourth-quarter results that beat the consensus forecast on Wall Street, projecting an even better 2022 even as it works through the effects of COVID-19 omicron variant surge.

The Plano, Texas–based medical device contract manufacturing giant earned $23.8 million, or 71¢ per share, off $313.0 million in sales for the quarter ended Dec. 31, 2021, for a bottom-line gain of 54% and sales growth of 16% compared with Q4 2020.

Adjusted to exclude one-time items, earnings per share were 99¢, 13¢ ahead of The Street, where analysts were looking EPS of 86¢ on sales of $307.7 million.

Integer also closed on its $220 million acquisition of Oscor in early December.

“Integer delivered strong year-over-year financial results in the fourth quarter and full-year 2021 despite a challenging labor and supply chain environment. Looking forward to 2022, we expect our year-over-year sales and profit growth to increase througho…

Integer Holdings makes additions to its executive team

Integer Holdings today announced that it has appointed three new executives to its leadership team.

The appointments come as part of a planned transition due to retirements. Margaret Cathy is being promoted to senior VP of quality and regulatory affairs; Andrew Senn is being promoted to senior VP of strategy and business development and McAlister Marshall is was named senior VP and general counsel, chief ethics and compliance officer and corporate secretary.

Cathy replaces Joseph Flanagan who announced his retirement from the company in December. She previously served as the company’s VP of quality and regulatory and has been with the company since 2004. Prior to joining Integer, Cathy was a quality and regulatory leader for the European Region at Sola International, which is now Carl Zeiss.

Senn’s promotion follows the retirement announcement of Tony Borowicz, senior VP of strategy, business development and investor relations, who plans to r…

Integer completes $220M Oscor acquisition

Integer Holdings (NYSE: ITGR) announced today that it has completed its purchase of Oscor — a deal that expands the capabilities of what was already one of the world’s largest medtech contract manufacturers.

Integer said the acquisition would cost $220 million when it first announced its plans in October.

Get the full story on our sister site Medical Design & Outsourcing.

Integer completes $220M Oscor acquisition

Integer Holdings (NYSE: ITGR) announced today that it has completed its purchase of Oscor — a deal that expands the capabilities of what was already one of the world’s largest medtech contract manufacturers.

Integer said the acquisition would cost $220 million when it first announced its plans in October.

Oscor is the creator and marketer of various specialized implantable cardiac pacing and neurostimulation leads, venous access systems and diagnostic catheters. Integer officials note that Oscor’s finished introducer systems, guiding sheaths and proprietary lead wire technologies give it even more exposure to higher-growth markets — including cardiac pacing, electrophysiology, neurostimulation, cardiovascular, peripheral vascular and structural heart.

Integer’s Oscor acquisition adds design, development and manufacturing operations in Palm Harbor, Florida and the Dominican Republic, business offices in Germany and 900 employees.

…

Integer beats The Street in Q3, plans to acquire Oscor

Integer Holdings (NYSE:ITGR) posted third-quarter results today that beat the consensus forecast on Wall Street — and announced plans to spend $220 million to acquire Oscor.

The Plano, Texas–based medtech contract manufacturing giant plans to finance the acquisition with debt. Integer officials expect the deal to close in December under customary closing conditions. They see the acquisition broadening Integer’s product portfolio, expanding its R&D capabilities, and adding low-cost manufacturing capacity.

Get the full story on our sister site Medical Design & Outsourcing.