Thu, Jul 25, 8:43 PM (44 days ago)
For Q2 2024, Integer Holdings Corporation reported a net income of $31.2 million, or $0.88 per diluted share, compared to $24.0 million, or $0.71 per diluted share, in Q2 2023. Sales increased by 9.0% to $436.2 million, driven by growth in the Medical segment, particularly in Cardio & Vascular and Cardiac Rhythm Management & Neuromodulation. Gross profit margin improved to 27.4% from 26.4% due to higher sales volume and operational efficiencies. Operating expenses remained flat at $64.2 million. Interest expense increased by $3.8 million due to higher average debt. The effective tax rate rose to 21.9% from 19.8%. Cash flow from operations increased to $70.5 million, while cash used in investing activities rose to $198.8 million, primarily due to the acquisition of Pulse Technologies. The company’s liquidity remains strong with $240.5 million available under its Revolving Credit Facility.