News Release    
Contacts:
Integra LifeSciences Holdings Corporation
John B. Henneman, III                    Investor Relations:
Corporate Vice President,                 Angela Steinway
Finance and Administration,                 (609) 936-2268
and Chief Financial Officer                            
(609) 275-0500     angela.steinway@integralife.com
    
Integra LifeSciences Reports Fourth Quarter 2012 Financial Results
Constant Currency Growth of 5.7%
Introduces 2013 Full-Year Guidance

Plainsboro, New Jersey, February 21, 2013 -
Integra LifeSciences Holdings Corporation (NASDAQ: IART) today reported its financial results for the fourth quarter ending December 31, 2012. Total revenues for the fourth quarter were $214.4 million, reflecting an increase of $10.9 million, or 5.4%, over the fourth quarter of 2011. Total revenues in the full year of 2012 were $830.9 million, reflecting an increase of $50.8 million, or 6.5%, over 2011.
Excluding the impact of currency exchange rates, revenues increased 5.7% over the fourth quarter of 2011 and 7.4% over the full year 2011.
The Company reported GAAP net income of $12.8 million, or $0.46 per diluted share, for the fourth quarter of 2012, compared to GAAP net income of $4.6 million, or $0.16 per diluted share, for the fourth quarter of 2011. The Company reported GAAP net income of $41.2 million, or $1.44 per diluted share, for the full year 2012, compared to GAAP net income of $28.0 million, or $0.95 per diluted share in 2011.
Net income for the fourth quarter of 2012, computed with the adjustments to GAAP reporting set forth in the attached reconciliation, was $22.0 million, or $0.78 per diluted share, compared to adjusted net income of $20.6 million, or $0.72 per diluted share, in the fourth quarter of 2011. Adjusted net income for the full year 2012, computed with the adjustments to GAAP reporting set forth in the attached reconciliation, was $87.2 million, or $3.06 per diluted share, compared to $82.2 million, or $2.79 per diluted share in 2011.
“We are pleased to have hit our growth objectives and the high end of the guidance we provided a year ago,” said Peter Arduini, President and Chief Executive Officer. “The entire organization is focused on executing our strategy and growing the company.”
Integra used $3.8 million of cash for operations in the fourth quarter of 2012, including a $29.8 million tax withholding payment made in connection with the release of the former CEO's deferred stock units. Integra also invested $24.7 million in capital expenditures in the fourth quarter of 2012. For the full year ended December 31, 2012, Integra's cash flows from operations totaled $58.7 million, including the tax withholding payment and $30.6 million of accreted interest paid at the maturity of the Company's 2012 Senior Convertible Notes. The Company invested $69.0 million in capital expenditures during the year.
Adjusted EBITDA for the fourth quarter of 2012 was $40.7 million, an increase of 4.9% compared to the fourth quarter last year. Adjusted EBITDA excluding stock-based compensation for the fourth quarter of 2012 was $43.1 million, an increase of 3.1% compared to the fourth quarter last year. Adjusted EBITDA for the full year 2012 was $166.3 million, an increase of 7.5% compared to last year. Adjusted EBITDA excluding stock-based compensation for the full year 2012 was $175.4 million, an increase of 4.3% compared to last year. All references to EBITDA in this paragraph were computed with the adjustments to GAAP reporting set forth in the attached reconciliations.


The following information was filed by Integra Lifesciences Holdings Corp (IART) on Thursday, February 21, 2013 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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