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Greatbatch, Inc. Reports 2013 Third Quarter Results

Stocks in this article: GB

Product Line Sales

The following table summarizes the Company’s sales by major product lines (dollars in thousands):

  Three Months Ended
September 27,   September 28,   %   June 28,   %
Product Line 2013 2012 Change 2013 Change
Implantable Medical
Cardiac/Neuromodulation $ 86,980 $ 80,246 8% $ 84,014 4%
Orthopaedic 30,079 27,173 11% 32,341 -7%
Vascular   12,279   13,674 -10%   12,249 0%
Total Implantable Medical 129,338 121,093 7% 128,604 1%
Portable Medical 19,320 20,219 -4% 22,167 -13%
Energy 13,625 13,054 4% 13,107 4%
Other   5,447   6,974 -22%   7,453 -27%
Total Electrochem   38,392   40,247 -5%   42,727 -10%
Total Sales $ 167,730 $ 161,340 4% $ 171,331 -2%

Implantable Medical

Cardiac and neuromodulation sales for the third quarter of 2013 increased 8% compared to the prior year to $87.0 million. This increase was driven by stronger market performance and continued deepening relationships with our OEM partners. More specifically, during the quarter we experienced double digit growth in medical batteries, capacitors, leads and feedthroughs. We continue to see an increased pace of product development opportunities from our cardiac customers. We believe that these opportunities, combined with our increased sales and marketing resources, will allow the Company to continue to grow this product line faster than the underlying market.

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