Medical device maker Integra LifeSciences Holdings Corp. said Thursday its third-quarter profit grew 14.6 percent, led by an increase in orthopedic sales.
The company said its profit rose to $16.5 million, or 55 cents per share, from $14.4 million, or 49 cents per share, during the same period a year ago. Revenue rose 8 percent to $186.6 million from $172.3 million.
Excluding charges, the company said it earned 73 cents per share. Analysts polled by Thomson Reuters expected profit of 66 cents per share on $182.6 million in revenue.
The company said its orthopedics revenue rose 14 percent to $73 million, while medical instrument sales rose 7 percent to $43.9 million and neuroscience revenue increased 4 percent to $69.8 million.
Integra raised its full-year adjusted profit guidance to between $2.72 and $2.80 per share from a prior range of $2.60 to $2.75 per share. The company reaffirmed its revenue outlook for $715 million to $725 million.
Analysts expect 2010 profit of $2.71 per share on $727 million in revenue.
Company shares rose 61 cents to $42.70 in morning trading.