This excerpt taken from the GB 8-K filed Aug 5, 2008.
– Electrochem achieved organic growth of 17% –
CLARENCE, N.Y.--(BUSINESS WIRE)--Greatbatch, Inc. (NYSE: GB), a manufacturer of technology based products for the commercial and implantable medical markets, today announced the results of operations for the quarter ended June 27, 2008.
“We are pleased to report this quarter’s results. We grew revenues, met our integration expectations to begin expanding operating margins, and are on track to further grow profitability. More importantly, we are seeing early returns from our strategy to diversify product lines and geographic mix through acquisitions. We have built a platform to bring important new product technologies to a broader, global customer base and are now methodically working to leverage that platform for growth and profitability,” stated Tom Hook, President and Chief Executive Officer. “We are in the early stages of a two-year plan to recognize the synergies from recent acquisitions. This quarter we grew operating margins through sales growth as well as cost reduction initiatives. Going forward, investors should expect to see both top line growth through the introduction of new product technologies to current and new customers, and bottom line growth as we diligently undertake further consolidation and integration efforts.”