This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Greatbatch, Inc. Reports 2014 First Quarter Results

FRISCO, Texas, April 30, 2014 (GLOBE NEWSWIRE) -- Greatbatch, Inc. (NYSE:GB), today announced results for its first quarter ended April 4, 2014 highlighted by 17% organic constant currency revenue growth; 16% improvement in adjusted operating income; and 23% improvement in adjusted diluted EPS.
  Three Months Ended
  April 4, March 29, % January 3, %
(Dollars in thousands, except per share data)  2014 2013 Change 2014 Change
Sales  $ 174,281  $ 148,265 18%  $ 176,619 (1)%
Organic Constant Currency Sales Growth 17% (4)%   13%  
           
GAAP Operating Income  $ 22,524  $ 14,339 57%  $ 12,863 75%
GAAP Operating Income as % of Sales 12.9% 9.7%   7.3%  
           
Adjusted Operating Income*  $ 22,310  $ 19,311 16%  $ 19,407 15%
Adjusted Operating Income as % of Sales 12.8% 13.0%   11.0%  
           
GAAP Diluted EPS  $ 0.58  $ 0.23 152%  $ 0.38 53%
Adjusted Diluted EPS*  $ 0.54  $ 0.44 23%  $ 0.55 (2)%
           
Adjusted EBITDA*  $ 31,562  $ 28,075 12%  $ 28,715 10%
Adjusted EBITDA as a % Sales 18.1% 18.9%   16.3%  
* Refer to Tables A, B and C at the end of this release for a reconciliation of GAAP to adjusted amounts.

CEO Comments

"We are off to an excellent start in fiscal 2014, as our strong first quarter results put us on track to achieve our full year strategic objective of 5% organic constant currency top-line growth and twice that amount to our bottom-line," stated Thomas J. Hook, president and CEO. "These results reinforce our strategy of enhancing our sales and marketing capabilities while sustaining our research and development efforts to grow our portfolio of intellectual property, which is designed to drive market share gains for our customers and increase value for our shareholders."

1 of 9

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 17,730.11 -27.80 -0.16%
S&P 500 2,076.78 -0.64 -0.03%
NASDAQ 5,009.2140 -3.9090 -0.08%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs