On January 14, 2021 Integra LifeSciences Holdings Corporation (NASDAQ: IART), a leading global medical technology company, reported certain unaudited preliminary fourth quarter and full-year 2020 revenue results (Press release, Integra LifeSciences, JAN 14, 2021, View Source [SID1234574003]).

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

Preliminary Fourth Quarter and Full-Year 2020 Revenue Results

Fourth quarter 2020 revenue is expected to be in a range of $387 to $389 million, representing a decrease of 2.1% to 1.6% on a reported basis and a decrease of 1.9% to 1.4% on an organic basis compared to the prior year.

Based on these results, revenue will be above the midpoint of the fourth quarter outlook range the Company provided in October and represents a sequential revenue improvement from the third quarter.

As a result of its fourth quarter preliminary results, the Company expects full-year 2020 reported revenue to be in a range of $1,370 million to $1,372 million, representing a decrease of 9.7% to 9.6% on a reported basis and a decrease of 8.8% to 8.7% on an organic basis.

The preliminary results set forth above are unaudited and remain subject to completion of the Company’s financial closing procedures.

"We are pleased with our execution and performance during the fourth quarter, despite the challenges brought on by the pandemic," said Peter Arduini, Integra’s president and chief executive officer. "For 2021, we believe the continued recovery of our business, combined with the changes to our portfolio resulting from the divestiture of Extremity Orthopedics and the acquisition of ACell, position the company for growth."

As a reminder, on January 4, 2021, the Company completed the divestiture of its Extremity Orthopedics business. Also, on December 16, 2020, the Company announced it had entered into a definitive agreement to acquire ACell, Inc. ("ACell"). The Company continues to expect this transaction to close in the first quarter of 2021, subject to the satisfaction of customary conditions, including regulatory approvals.

The Company is scheduled to present at the 39th Annual J.P. Morgan Healthcare Conference on Thursday, January 14, 2021 at 8:20am ET. A live audio webcast of the presentation will be available on the Investor section of the company’s website at www.integralife.com

Fourth Quarter and Full-Year 2020 Financial Results Conference Call

The Company will release fourth quarter and full-year 2020 financial results on Thursday, February 18, 2021 before the market opens. In conjunction with the earnings release, Integra’s management team will host a conference call at 8:30 a.m. ET.

As part of this call the Company will provide an update on first quarter and full-year 2021 expectations.

The live call is accessible by dialing (888) 394-8218 and using the passcode 5905980. A simultaneous webcast of the call will be available via the Company’s website at www.integralife.com.

A webcast replay of the call can be accessed through the Investor Relations homepage of Integra’s website at www.integralife.com. A replay of the call will be available until February 28, 2021 by dialing (888) 203-1112 and using the passcode 5905980.