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Integra LifeSciences Reports Fourth Quarter 2012 Financial Results

Stocks in this article: IART

Constant Currency Growth of 5.7% Introduces 2013 Full-Year Guidance

PLAINSBORO, N.J., Feb. 21, 2013 (GLOBE NEWSWIRE) -- Integra LifeSciences Holdings Corporation (Nasdaq:IART) today reported its financial results for the fourth quarter ending December 31, 2012. Total revenues for the fourth quarter were $214.4 million, reflecting an increase of $10.9 million, or 5.4%, over the fourth quarter of 2011. Total revenues in the full year of 2012 were $830.9 million, reflecting an increase of $50.8 million, or 6.5%, over 2011.

Excluding the impact of currency exchange rates, revenues increased 5.7% over the fourth quarter of 2011 and 7.4% over the full year 2011.

The Company reported GAAP net income of $12.8 million, or $0.46 per diluted share, for the fourth quarter of 2012, compared to GAAP net income of $4.6 million, or $0.16 per diluted share, for the fourth quarter of 2011. The Company reported GAAP net income of $41.2 million, or $1.44 per diluted share, for the full year 2012, compared to GAAP net income of $28.0 million, or $0.95 per diluted share in 2011.

Net income for the fourth quarter of 2012, computed with the adjustments to GAAP reporting set forth in the attached reconciliation, was $22.0 million, or $0.78 per diluted share, compared to adjusted net income of $20.6 million, or $0.72 per diluted share, in the fourth quarter of 2011. Adjusted net income for the full year 2012, computed with the adjustments to GAAP reporting set forth in the attached reconciliation, was $87.2 million, or $3.06 per diluted share, compared to $82.2 million, or $2.79 per diluted share in 2011.

"We are pleased to have hit our growth objectives and the high end of the guidance we provided a year ago," said Peter Arduini, President and Chief Executive Officer. "The entire organization is focused on executing our strategy and growing the company."

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