Integra LifeSciences reported a decrease in revenue by 1.5% and a decline in GAAP earnings per diluted share from $0.38 to $0.11 compared to the prior year, largely due to the negative impact of COVID-19 which led to deferral of non-emergent surgical procedures.
Reported revenues were $354.3 million, a decrease of (1.5)% on a reported basis and (0.1)% on an organic basis, compared to the prior year.
GAAP earnings per diluted share were $0.11, compared to $0.38 in the first quarter of 2019.
Adjusted earnings per diluted share were $0.48, compared to $0.65 in the prior year.
The company estimates the revenue impact from the decline in surgical procedures related to COVID-19 during the second half of March to be between $20 and $25 million.
Given the existing uncertainty related to COVID-19, the Company’s guidance for the full-year 2020, issued on February 19, 2020, remains withdrawn as announced on April 7, 2020.
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