Edition:
United States

Key Developments: Greatbatch Inc (GB)

GB on New York Consolidated

31.56USD
31 May 2016
Change (% chg)

$-0.16 (-0.50%)
Prev Close
$31.72
Open
$31.88
Day's High
$31.88
Day's Low
$31.26
Volume
264,456
Avg. Vol
369,524
52-wk High
$57.58
52-wk Low
$28.66

Latest Key Developments (Source: Significant Developments)

Greatbatch Inc reaffirms FY 2016 outlook; gives Q2 2016 Revenue guidance
Thursday, 28 Apr 2016 04:05pm EDT 

Greatbatch Inc:Revenue for Q2 2016 is expected to be between $355 million - $360 million.Guidance for FY 2016 sales $1.425 billion - $1.475 billion, adjusted EBITDA $320 million - $335 million and adjusted diluted EPS $3.00 - $3.35 remains unchanged.  Full Article

Greatbatch Inc Receives FDA Approval of Algovita(R) Spinal Cord Stimulation System
Monday, 30 Nov 2015 04:05pm EST 

Greatbatch Inc:Receives FDA approval of Algovita(R) spinal cord stimulation system.Says proposed nuvectra spin-off is expected to be completed in the first quarter of 2016.  Full Article

Greatbatch Inc lowers FY 2015 revenue guidance; raises FY 2015 EPS guidance
Thursday, 29 Oct 2015 04:05pm EDT 

Greatbatch Inc:Sees FY 2015 sales of $685 - $695 million.Sees FY 2015 capital expenditures of $40 - $50 million.Sees FY 2015 adjusted diluted EPS guidance of $2.96 - $3.06.Sees FY 2015 GAAP diluted EPS of $1.32 - $1.42.FY 2015 revenue of $692 million and EPS of $2.61 - Thomson Reuters I/B/E/S.  Full Article

Greatbatch Inc completes acquisition of Lake Region Medical
Tuesday, 27 Oct 2015 07:07pm EDT 

Greatbatch Inc:Completed the acquisition of Lake Region Medical.In connection with the Lake Region Medical acquisition, Greatbatch secured a $1.96 billion financing package led by M&T Bank Corporation, Credit Suisse, and KeyBanc Capital Markets.Financing comprises $1.6 billion of senior secured credit facilities, and $360 million of 9.125% senior notes due 2023.  Full Article

Greatbatch Inc announces pricing of $360 million of 9.125% senior notes due 2023
Tuesday, 20 Oct 2015 02:00pm EDT 

Greatbatch Inc:Says its wholly-owned subsidiary Greatbatch Ltd had priced its previously announced private offering of $360 million aggregate principal amount of senior notes due 2023 at an issue price of 100%.Notes will have a coupon of 9.125% and will mature on November 1, 2023.Intends to use the net proceeds from the notes as part of the financing for its previously announced acquisition of Lake Region Medical Holdings, Inc.  Full Article

Greatbatch Announces Private Offering of $360 Million of Senior Notes
Tuesday, 13 Oct 2015 04:05pm EDT 

Greatbatch:Says its wholly-owned subsidiary Greatbatch Ltd. intends to offer, subject to market and other conditions, $360 million aggregate principal amount of senior notes due 2023 in connection with its previously announced acquisition of Lake Region Medical Holdings, Inc.Says this offering is part of the financing for the acquisition.Acquisition of Lake Region is currently expected to close in the fourth quarter of 2015. If the offering of the notes closes prior to the closing of the acquisition of Lake Region, the gross proceeds from the offering will be deposited into an escrow account until closing of the acquisition.Upon consummation of the acquisition, Greatbatch, Inc. and certain of its subsidiaries (including certain subsidiaries acquired in connection with the acquisition) will guarantee the notes.  Full Article

Greatbatch Inc signs definitive agreement to acquire Lake Region Medical for $1.73 billion
Thursday, 27 Aug 2015 06:29am EDT 

Greatbatch Inc:Signs definitive agreement to acquire lake region medical for $1.73 billion.Says double-digit cash EPS accretion to Greatbatch from deal in 2016 and meaningfully more accretive thereafter.Says combined company expects to achieve net annual synergies at the operating profit level of $25 million in 2016.Says at closing, current Greatbatch stockholders are expected to own approximately 83.4% of the combined company.Greatbatch will pay about $478 million in cash, issue 5.1 million shares of common stock, options to lake region medical's equity holders.At closing, current lake region medical shareholders are expected to own approximately 16.6%.Deal assume approximately $1 billion of lake region medical net debt.Says expects to achieve net annual synergies which are expected to increase to at least $60 million in 2018.Says transaction is expected to close in the fourth quarter of 2015.Says agreement has been unanimously approved by the boards of directors of both companies.Says cash portion of transaction will be financed with existing cash on hand and proceeds from a fully committed financing loan.  Full Article

Greatbatch Inc reaffirms FY 2015 outlook
Thursday, 30 Jul 2015 04:05pm EDT 

Greatbatch Inc:Expects FY 2015 sales of $715 - $730 million.Expects FY 2015 GAAP Diluted EPS of $1.43 - $1.53.Expects FY 2015 adjusted diluted EPS of $2.61 - $2.71.FY 2015 revenue of $755 million and EPS of $2.87 - Thomson Reuters I/B/E/S.  Full Article

Greatbatch Inc reaffirms FY 2015 guidance
Thursday, 30 Apr 2015 04:05pm EDT 

Greatbatch Inc:Maintains FY 2015 revenue and adjusted diluted EPS guidance ranges.Expects FY 2015 sales of $715 - $730 million.Expects FY 2015 GAAP Diluted EPS of $2.02 - $2.12.Expects FY 2015 adjusted diluted EPS of $2.61 - $2.71.FY 2015 revenue of $715 million and EPS of $2.64 - Thomson Reuters I/B/E/S.  Full Article

Greatbatch Inc announces proposal to spin-off its Algostim subsidiary
Thursday, 30 Apr 2015 09:00am EDT 

Greatbatch Inc:Says proposed tax-free spin-off of Algostim, LLC.Algostim is a subsidiary of Greatbatch's QiG Group, which was established in 2008 to design and develop a broad-based neurostimulation platform.Algostim's Algovita Spinal Cord Stimulation (SCS) system is first application of platform, with additional QiG applications currently in development.  Full Article

BRIEF-Wgl holdings reports q2 oper shr $1.78

* Reports Second Quarter Fiscal Year 2016 Financial Results; Affirms Fiscal Year 2016 Non-Gaap guidance