Plainsboro, N.J.-based Integra LifeSciences reported its financial results for the second quarter of 2016, ending June 30.
Here are eleven highlights:
1. Integra's revenue hit $249.3 million in the second quarter, an increase of 17.2 percent over the same period in 2015.
2. The company's organic revenue increased 10.7 percent over the second quarter of 2015.
3. The orthopedics and tissue technologies segment revenue increased 38.2 percent over the same period the year prior. The specialty surgical solutions revenue rose 7.8 percent over the second quarter of 2015.
4. The GAAP gross margin was 64.1 percent, with adjusted gross margin of 69.2 percent.
5. The company's GAAP net income hit $12.8 million, up 6.1 percent from the same period the year prior.
6. Adjusted net income rose 21.3 percent to $30.3 million in the second quarter of 2016.
7. The company's adjusted EBITDA hit $54.6 million, representing 21.9 percent of revenue.
8. Integra's operating cash flow totaled $38.1 million.
9. The company commercially released its Integra Omnigraft Dermal Regeneration Matrix. Additionally, Integra launched its Integra Fin-Lock Glenoid for the Titan Modular Shoulder System.
10. Integra increased its 2016 full-year sales guidance to between $992 million and $1.002 billion, updated from the previous guidance of $985 million to $1 billion.
11. The company is also increasing its full-year organic revenue growth guidance to 9 percent, up from the previous 8 percent.
"In the second quarter, we continued to see positive momentum across our product portfolio, which allowed us to continue to make investments in our clinical pipeline and commercial infrastructure," said Glenn Coleman, Integra's CFO.