PLAINSBORO, N.J., April 11, 2014 (GLOBE NEWSWIRE) -- Integra LifeSciences Holdings Corporation (Nasdaq:IART) will release its first quarter 2014 financial results on Thursday, May 1, 2014. The company has scheduled a conference call for 8:30 AM ET the same day to discuss the results.
Integra's senior management team will host the conference call, which will be open to all listeners. There will also be a question and answer session following the prepared remarks.
Access to the live call is available by dialing (913) 312-1507 and using the passcode 7751858. The call can also be accessed through a webcast via a link provided on the Investor Relations homepage of Integra's website at www.integralife.com. Access to the replay is available through May 19, 2014 by dialing (719) 457-0820 and using the passcode 7751858. The webcast will also be archived on the website.
Accounting Principle Change
In the first quarter of 2014, the Company changed its accounting policy for the medical device excise tax. Prior to the change, the Company recorded the medical device excise tax in inventory at the time of the first sale and then recognized the tax in cost of sales when the medical device was sold to the ultimate customer. Under the new method, the medical device excise tax will be recorded in selling, general and administrative expenses in the period the first sale occurs.
The Company believes that this change is preferable as the new method aligns the Company's accounting policy with its industry peers, the majority of which expense the medical device excise tax at the time of the first sale.
The Company will make a full reconciliation of the effect of this accounting principle change on its 2013 financial results available to investors on its website on May 1, 2014 and will discuss this change on its earnings conference call the same day.
Integra LifeSciences, a world leader in medical technology, is dedicated to limiting uncertainty for surgeons, so they can concentrate on providing the best patient care. Integra offers innovative solutions in orthopedic extremity surgery, neurosurgery, spine surgery, and reconstructive and general surgery. For more information, please visit www.integralife.com
CONTACT: Integra LifeSciences Holdings Corporation John B. Henneman, III Corporate Vice President, Finance and Administration & Chief Financial Officer (609) 275-0500 Investor Relations: Angela Steinway (609) 936-2268 firstname.lastname@example.org
Source:Integra LifeSciences Holdings Corp.