Integer (US:ITGR)2022-02-22 10:03Financial Performance - 4Q21 sales increased by 16% compared to 4Q20, and adjusted EPS increased by 39% compared to 4Q20[8] - Full year 2021 sales increased by 14% and adjusted EPS increased by 47% compared to 2020[8] - The company generated $157 million cash flow from operations in the full year[87] 2022 Outlook - The company projects sales of $1340 - $1365 million, representing a 10%-12% increase, with organic growth of 5%-7%[8] - Adjusted EBITDA is expected to be $270 - $282 million, up 11%-16%[8] - Adjusted EPS is projected to be $435 - $465, up 7%-14%[8] Strategy and Investment - The company aims for sales growth 200 basis points above the market and operating profit at 2x the sales growth rate[10] - The company is exiting approximately $40 million of Portable Medical sales over 4 years, which is expected to be margin accretive[20] - The company is increasing investments in capabilities and capacity in high-growth markets[25] Product Line Performance - Cardio & Vascular trailing four quarter sales increased 10% year-over-year in 4Q21[71] - CRM&N trailing four quarter sales increased 29% year-over-year in 4Q21[72] - Advanced Surgical, Orthopedics & Portable Medical trailing four quarter sales declined 10% year-over-year in 4Q21[74] - Electrochem trailing four quarter sales increased 8% year-over-year in 4Q21[75]