GREATBATCH INC
SymbolGB

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Greatbatch, Inc. Reports 2009 Third Quarter Results

2009-11-05 18:25 ET - News Release


CLARENCE, N.Y. -- (Business Wire)

Greatbatch, Inc. (NYSE:GB), today announced results for its third quarter ended October 2, 2009:

  • CRM/Neuromodulation revenue growth of 5%
  • Orthopaedic and Electrochem revenue negatively impacted by market slowdown
  • GAAP operating results include impact of $34.5 million Electrochem litigation charge
  • Cash flows from operations of $29 million
  • Consolidation initiatives remain on track
  • Annual operating margin guidance maintained on reduced full year revenue expectations
(Dollars in thousands, except share data)  

2009
3rd Qtr.

   2008
3rd Qtr.		   %
Change		   2009
2nd Qtr.		   %
Change
Revenue   $ 121,470   $ 136,242   -11 %   $ 134,725   -10 %
GAAP Operating Income (Loss) $ (23,933 ) $ 15,714 NA $ 12,469 NA
GAAP Operating Income (Loss) as % of Sales* -19.7 % 11.5 % 9.3 %
Adjusted Operating Income* $ 13,646 $ 19,279 -29 % $ 14,893 -8 %
Adjusted Operating Income as % of Sales 11.2 % 14.2 % 11.1 %
GAAP Diluted EPS $ (0.90 ) $ 0.28 NA $ 0.28 NA
Adjusted Diluted EPS* $ 0.32 $ 0.44 -27 % $ 0.40 -20 %

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