Integra LifeSciences reported third quarter revenue was up over the same period last year.
Here are 10 key notes on the financial report.
1. Total revenue for the third quarter jumped 14.6 percent to $226.4 million over the same period last year.
2. The company successfully raised $230 million in a common stock public offering during the quarter and completed a credit facility expansion from $900 million to $1.1 billion.
3. Integra LifeSciences had a one-time, non-cash $35.6 million tax charge, or $1 per share, to establish a valuation allowance for certain deferred tax assessments associated with the company's spine business branching off into SeaSpine.
4. Integra reported $31.9 million net loss, or $0.90 per share for the third quarter, compared with a $9 million net income for the same period last year.
5. Revenue from the specialty surgical solutions segment was $147 million, up 7 percent over the same period last year. The orthopedics and tissue technologies revenue was up 32 percent, reaching $79.2 million in the third quarter.
6. Integra raised the low end of its full-year guidance for 2014 for continuing operations, now expecting revenue to hit $878 million to $885 million.
7. Full year organic revenue growth is expected at 6 percent to 7 percent. The estimate includes an immaterial contribution from acquiring Tornier assets in October.
"We are pleased with the consistent financial performance and execution against our plans through the first nine months of the year," said Glenn Coleman, Integra's CFO. "TEI and the Salto Talaris are a great fit for Integra and the integrations are proceeding as planned. This gives us confidence to raise the low-end of our guidance range for the total revenue, organic sales growth and adjusted earnings per share."