Greatbatch profits tumble in 4Q

Greatbatch Inc. reported fourth-quarter net income of $5.6 million or 24 cents per share, a sharp decline from $13.8 million, or 59 cents per share in the same period in 2010.

The Clarence-based company (NYSE: GB) noted the 2010 fourth quarter and all of 2011 include the impact of the Electrochem litigation and cost method investment gains, respectively. Adjusted diluted EPS for the fourth quarter and full year 2011 were $0.39 and $1.68 per share, respectively, compared to $0.46 and $1.51 per share for the corresponding 2010 periods...