Integer Hldgs Corp Stock Price, News & Analysis

Integer Holdings Corporation (NYSE:ITGR) reported its third-quarter results for 2020, highlighting a sales decline of 22% to $236 million, with GAAP income down 1% to $30 million. Non-GAAP adjusted income fell 58% to $17 million, while adjusted EBITDA dropped 47% to $37 million. The company expects fourth-quarter sales to improve by $20-$35 million and projects a 200-300 basis point increase in adjusted operating income margin. Integer received a $28 million patent litigation judgment, aiding its debt reduction efforts, with net total debt decreasing to $747 million.

Integer Holdings Corporation (NYSE: ITGR) has secured approximately $28 million from a Federal Court ruling in its favor against AVX Corporation for patent infringement. This outcome allows Integer to reduce its net debt by about 4%. The company emphasizes its commitment to protecting intellectual property, which supports its goal of enhancing patient lives through innovative medical technologies. Integer is a leading manufacturer in the medical device outsourcing space, catering to several critical healthcare markets.

Integer Holdings Corporation (NYSE:ITGR) is set to release its third quarter 2020 financial and operational results on October 29, 2020, at 8 a.m. ET. Following the results announcement, a management webcast will be held at 9 a.m. ET to discuss the outcomes and additional forward-looking information. Investors can join the conference call using specific dial-in numbers provided. Integer, a leading medical device manufacturer, specializes in cardiac, neuromodulation, vascular, and orthopedics markets, offering innovative medical technologies.

Integer Holdings Corporation (NYSE:ITGR) reported second-quarter 2020 results, posting a 24% decline in sales to $240 million compared to the same quarter last year, attributed to the COVID-19 pandemic. GAAP income plummeted 99% to $0.4 million, while non-GAAP adjusted income fell 74% to $10 million. Despite the challenges, the company maintained ample liquidity and reduced total debt by $33 million to $770 million. Notable was the affirmation of a $27 million patent infringement ruling in its favor. Integer continues to adapt strategically to shifting demands.

Integer Holdings Corporation (NYSE: ITGR) will announce its Q2 2020 financial and operational results on July 30, 2020, at 8 a.m. ET. A webcast led by Integer management will follow at 9 a.m. ET. The call will cover forward-looking information and material updates. Investors can join via phone or through the Investor Relations section of Integer's website. Integer is a leading medical device manufacturer serving diverse markets, including cardiac and neuromodulation.

Integer Holdings Corporation (NYSE: ITGR) has achieved a significant legal victory as the U.S. Court of Appeals for the Federal Circuit confirmed a judgment of over $27M in its favor against AVX Corporation. This ruling comes after a lengthy patent infringement case initiated in 2013, where Integer's subsidiary, Greatbatch Ltd., accused AVX of infringing three patents related to vital medical device components for pacemakers and defibrillators. Senior VP, Elizabeth Giddens, expressed satisfaction with the outcome, marking it as a complete victory for the company.

Integer Holdings Corporation (NYSE: ITGR) announced a successful amendment to its senior secured credit facility amid the COVID-19 pandemic. This precautionary measure aims to enhance liquidity and support ongoing strategic investments and acquisitions. The amendment adjusts the covenant net leverage ratio from 4.00 to 1.00 to 4.75 to 1.00 for the period from Q3 2020 to Q2 2021, before stepping down to 4.50 to 1.00 for one quarter. The company will incur advanced and deferred amendment fees to consenting lenders as part of this arrangement, showcasing strong lender support.

Integer Holdings Corporation (NYSE: ITGR) has opened a new Galway Research and Development (R&D) Innovation Centre in Ireland. This 8,500 square foot facility will enhance Integer's ability to develop high-quality medical devices, particularly in the cardio and vascular sectors. With increased lab space and collaborative environments, the center will support innovation and growth for Integer and its customers. The Galway facility complements existing operations and aims to strengthen Integer's position within the global medical device sector.

Integer Holdings Corporation (NYSE:ITGR) announced its financial results for Q1 2020, reporting a 45% increase in GAAP EPS and a 26% rise in adjusted income. Total sales grew 4% to $328 million. Despite challenges from COVID-19, sales were largely unaffected, particularly in Cardio & Vascular, which rose 17%. However, the company suspended its annual guidance due to uncertainties surrounding the pandemic. A total debt reduction to $804 million was noted, achieving a leverage ratio of 2.8 times adjusted EBITDA.