Greatbatch, Inc. (NYSE:GB) Q3 2016 Earnings Conference Call - Final Transcript

Good day, ladies and gentlemen, and welcome to the Integer Holdings Corporation Third Quarter Earnings Conference Call.

(Operator Instructions).

As a reminder, this conference call is being recorded.

I would now like to turn today's conference over to Amy Wakeham, Vice President, Investor Relations. Please go ahead.

Thank you. Good afternoon, everyone. Thanks for joining us, and welcome to Integer's third quarter 2016 conference call. This call is being webcast live, and together with our earnings release and conference call presentation, are available on the Investor Relations section of our corporate website. The results and data we discuss today reflect the consolidated results of Integer for the periods indicated.

I would like to take this opportunity to let you know that beginning with our next quarterly earnings, the Company will be aligning the timing of its earnings release and conference call more closely to its SEC filings. As we evolve our business processes and procedures, we are making changes to incorporate best practices and reduce risks by shortening the gap between these two events.

(Forward-Looking Cautionary Statements)

For anyone listening to a taped or webcast replay, or reviewing a written transcript of this conference call, please note that all information presented is current only as of today's date, October 27, 2016. The Company disclaims any duty or obligation to update any forward-looking information, whether as a result of new information, future events, or otherwise.

On the call today to discuss our quarterly results, update you on our business outlook and strategic initiatives are Thomas J. Hook, President and Chief Executive Officer; and Michael Dinkins, Executive Vice President and Chief Financial Officer. Following our prepared remarks, the call operator will come back on the line for Q&A.

I would now like to turn the call over to Tom.

Thanks, Amy. Welcome, and thank you all for joining us this afternoon. On today's call, we will review our third quarter results, provide an update on our product lines, progress on integration, and discuss our long-term strategic growth initiatives. Integer is a company that is well positioned within the medical technology market, and it is up to us to capitalize on the opportunities in front of us.

A year ago today, we completed the transformative combination of Greatbatch and Lake Region Medical, a transaction that strategically positioned Integer to be a global leader in medical device outsource manufacturing. We now offer a broad suite of technologies across the entire spectrum, from discrete products to complete implantable medical device systems. Our comprehensive capabilities and broad product offering allows us to deepen our customer relationships and explore new ways to partner together, both with existing and new customers.

We believe there is a significant opportunity to expand and grow our business. Today, a relatively low percentage of medical device manufacturing is outsourced, and the market is highly fragmented. Our competencies in manufacturing, core technologies, quality control, and operational excellence will allow our customers to leverage significant benefits provided by Integer.

As we review our third quarter