Integer Holdings shares dip on Q4

Shares in Integer Holdings (NYSE:ITGR) have drooped today after the medical device maker released 4th quarter and full year 2016 earnings that beat earnings per share expectations, but missed on revenue.

The Frisco, Texas-based company posted profits of $7.9 million, or 25¢ per share, on sales of $359.6 million for the 3 months ended December 30, for a huge 131.9% swing from the red on the bottom-line while sales grew 13.2% compared with the same period last year.

Adjusted to exclude 1-time items, earnings per share were 87¢, ahead of consensus on The Street where analysts were looking for sales of $351.7 million.

For the full year Integer posted profits of $6 million, or 19¢ per share, with the bottom-line growing 178% from the red while sales grew a massive 73.3% compared with the previous year. Adjusted earnings per share however were down 13.8% from last year, posting up $2.68 for 2016.

“We had solid performance in the 4th quarter and are pleased with the continued operational and financial stabilization of the business. The successful steps we have taken to integrate and stabilize our business establish a strong foundation and increase our confidence as we move into 2017. We are well-positioned to drive profitable revenue growth as we seek to deliver innovative, cost-effective solutions to our customers and drive shareholder returns over the long-term,” prez & CEO Thomas Hook said in a prepared statement.

The company released outlook for the upcoming year, expecting to see sales between $1.39 billion and $1.43 billion, with adjusted earnings per share between $2.70 and $3.10.

Shares dipped today after the release, down 2.2% to close at $36.15.

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