PLAINSBORO, N.J., Aug. 6, 2009 (GLOBE NEWSWIRE) — Integra LifeSciences Holdings Corporation (Nasdaq:IART – News) today reported its financial results for the second quarter ending June 30, 2009. Total revenues were $165.7 million, reflecting an increase of $8.5 million, or 5%, over the second quarter of 2008. Excluding the impact of currency exchange rates, revenues increased 8%. Revenues by product category are presented in a table at the end of this press release.
“We are pleased with the performance of our business, notwithstanding the difficult economy. We have cut costs and focused on our fastest growing businesses,” said Integra’s President and Chief Executive Officer, Stuart Essig.
The Company reported GAAP net income of $11.2 million, or $0.38 per diluted share, for the second quarter of 2009, compared to GAAP net income of $12.3 million, or $0.43 per diluted share, for the second quarter of 2008.
Adjusted net income for the second quarter of 2009, computed with the adjustments to GAAP reporting set forth in the attached reconciliation, was $15.0 million, or $0.51 per diluted share. Adjusted net income for the second quarter of 2008, computed with the adjustments to GAAP reporting set forth in the attached reconciliation, was $14.1 million, or $0.49 per diluted share.
Integra generated $30.6 million in cash flows from operations and used $5.2 million of cash on capital expenditures in the second quarter of 2009. For the four quarters ended June 30, 2009, Integra’s cash flows from operations exceeded $120 million.