Integra LifeSciences reported a second quarter revenue increase and full-year guidance after the SeaSpine spin-off completes.
Here are seven things to know:
1. The second quarter revenue increased 5.5 percent over the same period last year to $244.1 million.
2. The company reported net income for the second quarter at $26.3 million, or $0.79 per diluted share. This is up over the net income in the second quarter of 2014, at $22.2 million or $0.68 per diluted share.
3. The adjusted EBITDA for the second quarter was $50.5 million, or 20.7 percent of revenue. This exceeds the adjusted EBITDA from the same period last year, which reached $43.4 million or 18.8 percent of revenue.
4. Integra generated $18.1 million in cash flows from operations in the second quarter and invested $13.1 million in capital expenditures.
5. After the SeaSpine acquisition was complete July 1, the company updated its full-year 2015 guidance. The company now expects revenue to hit $870 million to $885 million.
6. Integra's specialty surgical solutions revenue was up 7 percent to $146 million. Orthopedics and tissue technologies increased 10 percent to $63 million while spine revenue decreased 7 percent to $33.5 million.
7. The company also acquired TEI on July 17. "Our teams worked hard to complete the spin-off of SeaSpine ahead of schedule and close the strategic acquisition of TEI," said Integra President and CEO Peter Arduini. "We are optimistic about the top-line growth acceleration and margin improvement these transactions will add to Integra."