On July 9, 2020 Integra LifeSciences Holdings Corporation (NASDAQ: IART), a leading global medical technology company, reported certain unaudited preliminary second quarter financial results (Press release, Integra LifeSciences, JUL 9, 2020, View Source [SID1234561791]). The company also announced that it will release full second quarter 2020 financial results on Monday, August 10, 2020 at 4:30pm ET.
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Preliminary Second Quarter Revenue Results
Second quarter 2020 reported revenue is expected to be in the range of $254 million to $256 million, representing a decline of approximately 34% on a reported basis and approximately 32% on an organic basis compared to 2019. Throughout the quarter, monthly sales performance improved sequentially due to the resumption of non-emergent surgical procedures and the easing of shelter-in-place restrictions. The Company’s average daily sales in the month of June were down approximately 15% when compared to the average daily sales rate for the full second quarter of 2019. The preliminary results set forth above are unaudited and remain subject to completion of the Company’s financial closing procedures.
The Company is encouraged by the improvement in monthly sales trends during the second quarter. However, given the continued uncertainty due to the ongoing impact of COVID-19, we currently are unable to determine the impact on revenue beyond the first half of 2020, and are continuing to monitor, assess and respond to the situation. The Company will provide an update on August 10, 2020, as part of our second quarter earnings call, along with a discussion of our full second quarter financial results.
Second Quarter 2020 Financial Results Conference Call
The Company will release full second quarter 2020 financial results on Monday, August 10 after the market closes. In conjunction with the earnings release, Integra’s management team will host a conference call at 4:30 p.m. ET.
The live call is accessible by dialing (800) 263-0877 and using the passcode 4133628. 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 August 15, 2020 by dialing (888) 203-1112 and using the passcode 4133628.