Integra’s orthopedics line made $70.2 million in total revenue, up 9 percent from the same period last year, according to the release.
Excluding the impact of currency exchange rates, revenues increased 6 percent over the first quarter of 2009. The company also reported generally accepted accounting principle net income of $15.2 million for the first quarter of 2010, compared to GAAP net income of $9.6 million for the first quarter of 2009, according to the release.
Adjusted net income for the first quarter of 2010, computed with the adjustments to GAAP reporting set forth in the attached reconciliation, was $19.0 million compared to $17.0 million in the first quarter of 2009. Amounts in both periods exclude intangible asset amortization, which was $4.5 million, in the first quarter of 2010 and $4.9 million in the first quarter of 2009, according to the release.
Integra generated $28.1 million in cash flows from operations and used $5.9 million of cash on capital expenditures in the first quarter of 2010, according to the release. During the quarter, Integra paid down $15.0 million of its credit facility with cash.
Read the release about Integra’s first quarter earnings.
