Conmed (CNMD) Tops Q4 EPS by 1c; Guides

Conmed (NASDAQ: CNMD) reported Q4 EPS of $0.52, $0.01 better than the analyst estimate of $0.51. Revenue for the quarter came in at $191 million versus the consensus estimate of $191.03 million.

GUIDANCE:

Conmed sees FY2016 EPS of $1.85-$1.95, versus the consensus of $1.80. Conmed sees FY2016 revenue of $760-770 million, versus the consensus of $778.1 million.

“We are pleased with our accomplishments during fiscal 2015, particularly the early signs that our turnaround efforts are starting to gain traction. Despite continued headwinds in our export markets, we reversed the trend of top-line deterioration experienced in 2014 and exited 2015 with two consecutive quarters of constant currency revenue growth. In addition, gross margin improvement in the second half of the year and lower operating expenses as a result of cost saving initiatives are positive trends we intend to build on entering 2016,” commented Curt R. Hartman, CONMED’s President and Chief Executive Officer. “Based on progress made in 2015, and with new commercial leadership in place, we are confident in our ability to deliver continued improvement in operational performance in 2016. Our team is committed to capitalizing on the SurgiQuest acquisition, to investing in innovation, and to further enhancing CONMED’s growth opportunities domestically and internationally.”

For earnings history and earnings-related data on Conmed (CNMD) click here.

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