PLAINSBORO, N.J., Mar 2, 2009 (GlobeNewswire via COMTEX News Network) — Integra LifeSciences Holdings Corporation (Nasdaq:IART) today reported its financial results for the fourth quarter and full year ending December 31, 2008. Total revenues in the fourth quarter of 2008 were $174.4 million, reflecting an increase of $16.7 million, or 11%, over the fourth quarter of 2007. Total revenues in the full year of 2008 were $654.6 million, reflecting an increase of $104.1 million, or 19%, over the full year of 2007. Excluding the impact of currency exchange rates, revenues increased 13% and 18%, respectively, for the quarter and year ended December 31, 2008. We have broken out our revenues by product category in a table at the end of this press release.
“Despite a challenging economic environment, Integra posted strong results for the full year 2008,” said Integra’s President and Chief Executive Officer, Stuart Essig. “We are pleased with the strength of our business under the circumstances, in particular our operating cash flow.”
The Company reported GAAP net income of $24.8 million, or $0.85 per diluted share, for the fourth quarter of 2008, compared to GAAP net income of $5.4 million, or $0.19 per diluted share, for the fourth quarter of 2007.
In the fourth quarter of 2008, the Company reported a $10.0 million deferred income tax benefit related to the restructuring of a German subsidiary.