Integer Holdings Corporation Issues Statement on Tariffs
April 11 2025 - 7:00AM
Integer Holdings Corporation (NYSE: ITGR), a leading contract
development and manufacturing organization, issued a statement on
the impact of tariffs on its business given the recent
extraordinary developments regarding trade policies.
“We continue to estimate an impact of $1 to $5 million on full
year adjusted operating income, consistent with previous
communications. This estimate assumes currently applicable tariffs
as well as the additional tariffs that were announced on April 2 by
the U.S. that would take effect following the 90-day pause. This
estimate also incorporates implemented and planned mitigation
actions,” said Joseph Dziedzic, Integer’s president and CEO.
Integer plans to release financial and operational results for
the first quarter 2025 on Thursday, April 24, 2025.
Learn more about Integer at www.integer.net.
About Integer®Integer Holdings
Corporation (NYSE: ITGR) is one of the largest medical device
contract development and manufacturing organizations (CDMO) in the
world, serving the cardiac rhythm management, neuromodulation, and
cardio and vascular markets. As a strategic partner of choice to
medical device companies and OEMs, the Company is committed to
enhancing the lives of patients worldwide by providing innovative,
high-quality products and solutions. The Company's brands include
Greatbatch Medical® and Lake Region Medical®. Additional
information is available at www.integer.net.
Investor Relations:Kristen
Stewartkristen.stewart@integer.net551.337.3973 |
Media
Relations:Kelly
Butlerkelly.butler@integer.net469.731.6617 |
Forward-Looking StatementsSome of the
statements contained in this press release are “forward-looking
statements” within the meaning of Section 27A of the Securities Act
and Section 21E of the Securities Exchange Act of 1934, as amended,
and are subject to the safe harbor created thereby under the
Private Securities Litigation Reform Act of 1995. The Company has
based these forward-looking statements on its current expectations,
and these statements are subject to known and unknown risks,
uncertainties and assumptions. Forward-looking statements include,
but are not limited to, statements regarding the expected impact of
tariffs on 2025 adjusted operating income.
You can identify forward-looking statements by terminology such
as “may,” “will,” “should,” “could,” “expects,” “intends,” “plans,”
“anticipates,” “believes,” “estimates,” “predicts,” “projects,”
“forecast,” “outlook,” “assume,” “potential” or “continue” or
variations or the negative counterparts of these terms or other
comparable terminology. These statements are only predictions and
are no guarantee of future performance, and investors should not
place undue reliance on forward-looking statements as predictive of
future results. Actual events or results may differ materially from
those stated or implied by these forward-looking statements. In
evaluating these statements and the Company’s prospects, you should
carefully consider the factors set forth below. All forward-looking
statements attributable to the Company or persons acting on its
behalf are expressly qualified in their entirety by these
cautionary factors. The Company disclaims any obligation to
publicly update or revise the forward-looking statements made in
this press release as a result of new information, future events or
otherwise, except as required by law.
While it is not possible to create a comprehensive list of all
factors that may cause actual results to differ from results
expressed or implied by such forward-looking statements or that may
affect the Company’s future results, some of these factors and
other risks and uncertainties that arise from time to time are
described in Item 1A “Risk Factors” of the Company’s Annual Report
on Form 10-K and in its other periodic filings with the SEC and
include the following:
- operational risks, such as the
Company’s dependence upon a limited number of customers; pricing
pressures and contractual pricing restraints the Company faces from
customers; its reliance on third-party suppliers for raw materials,
key products and subcomponents; interruptions in its manufacturing
operations; its ability to attract, train and retain a sufficient
number of qualified associates to maintain and grow its business;
the potential for harm to its reputation and competitive advantage
caused by quality problems related to its products; its dependence
upon its information technology systems and its ability to prevent
cyber-attacks and other failures; global climate change and the
emphasis on environmental, social and governance matters by various
stakeholders; its dependence upon its senior management team and
key technical personnel; and consolidation in the healthcare
industry resulting in greater competition;
- strategic risks, such as the intense
competition the Company faces and its ability to successfully
market its products; its ability to respond to changes in
technology; its ability to develop new products and expand into new
geographic and product markets; and its ability to successfully
identify, make and integrate acquisitions to expand and develop its
business in accordance with expectations;
- financial and indebtedness risks,
such as the Company’s ability to accurately forecast future
performance based on operating results that often fluctuate; its
significant amount of outstanding indebtedness and its ability to
remain in compliance with financial and other covenants under the
credit agreement governing its senior secured credit
facilities;
- legal and compliance risks, such as
regulatory issues resulting from product complaints, recalls or
regulatory audits; the potential of becoming subject to product
liability or intellectual property claims; the Company’s ability to
protect its intellectual property and proprietary rights; its
ability to comply with customer-driven policies and third-party
standards or certification requirements; its ability to obtain
and/or retain necessary licenses from third parties for new
technologies; its ability and the cost to comply with environmental
regulations; legal and regulatory risks from its international
operations; the fact that the healthcare industry is highly
regulated and subject to various regulatory changes; and its
business being indirectly subject to healthcare industry cost
containment measures that could result in reduced sales of its
products; and
- other risks and
uncertainties that arise from time to time.
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