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INTEGRA LIMIT UNCERTAINTY Integra LifeSciences Reports Second Quarter 2021 Financial Results July 28 , 2021 Raises Full - Year 2021 Guidance Second Quarter 2021 Highlights • Revenues of $ 390.0 million increased 50.8 % on a reported basis and 48.7 % on an organic basis compared to the prior year ; • GAAP earnings per diluted share of $ 0.41 , compared to $ ( 0.00 ) in the second quarter of 2020 ; adjusted earnings per diluted share of $ 0.79 , compared to $ 0.33 in the prior year ; • Cash flow from operations of $ 91.3 million increased 176 % from the prior year ; • Raising full - year 2021 revenue guidance by $ 15 million to a range of $ 1,540 million to $ 1,550 million and adjusted earnings per share to a range of $ 2.98 to $ 3.05 . PRINCETON , N.J. , July 28 , 2021 ( GLOBE NEWSWIRE ) -- Integra LifeSciences Holdings Corporation ( NASDAQ : IART ) , a leading global medical technology company , today reported financial results for the second quarter ending June 30 , 2021 . " We are pleased with second quarter results that exceeded our forecasts . Our business segments were well - positioned to capitalize on the improving demand driven by the ongoing global market recovery , " said Peter Arduini , Integra's president and chief executive officer . " We saw particularly healthy order activity in products used in neurosurgery , instruments , burn , trauma and surgical reconstruction as markets gradually recovered . Areas such as capital equipment and our international indirect markets are still early in their recovery but are reporting encouraging trends . As a result of our better than expected second quarter financial performance , we are raising our full - year revenue and EPS guidance . " Second Quarter 2021 Consolidated Performance Total reported revenues of $ 390.0 million increased 50.8 % on a reported basis and 48.7 % on an organic basis compared to the prior year . Total reported revenues include $ 17.7 million from the acquisition of ACell , which was completed on January 20 , 2021 . The Company reported GAAP gross margin of 61.2 % , compared to 59.2 % in the second quarter of 2020. Adjusted gross margin was 68.1 % compared to 66.2 % in the prior year . Adjusted EBITDA for the second quarter of 2021 was $ 101.0 million , or 25.9 % of revenue , compared to $ 52.8 million , or 20.4 % of revenue in the prior year . Adjusted EBITDA margins benefited from higher revenue and higher adjusted gross margins , partially offset by higher operating expenses attributable to the gradual return of spending , which was reduced during the same period in the prior year in response to the global pandemic . The Company reported GAAP net income of $ 35.1 million , or $ 0.41 per diluted share , in the second quarter of 2021 , compared to a GAAP net loss of $ ( 0.4 million ) , or $ ( 0.00 ) per diluted share , in the prior year . Adjusted net income for the second quarter of 2021 was $ 67.4 million , or $ 0.79 per diluted share , compared to $ 28.4 million , or $ 0.33 per diluted share , in the prior year . Second Quarter 2021 Segment Performance • Codman Specialty Surgical ( 66 % of Revenues ) • Total revenues were $ 256.8 million , representing reported growth of 51.3 % and organic growth of 49.5 % compared to the second quarter of 2020. Broad - based strength in both neurosurgery and instruments were driven by a recovery in demand . • Tissue Technologies ( 34 % of Revenue ) • Total revenues were $ 133.2 million , representing reported growth of 49.8 % and organic growth of 47.1 % compared to the second quarter of 2020. Growth was led by strength in burn , trauma and surgical reconstruction . Strategic Initiatives and Key Developments • Advancing key products • CerelinkⓇ - next generation intracranial pressure monitor is scheduled for a controlled market release in the third