Conmed (CNMD) Tops Q1 EPS by 3c

Conmed (NASDAQ: CNMD) reported Q1 EPS of $0.38, $0.03 better than the analyst estimate of $0.35. Revenue for the quarter came in at $186.6 million versus the consensus estimate of $181.38 million.

• Sales of $186.6 million increased 3.0% as reported compared to the first quarter of 2016. On a constant currency basis, sales increased 3.7%.
• International revenue grew 2.4% as reported and 3.9% in constant currency, driven by continued growth in General Surgery and Orthopedics.
• Domestic General Surgery sales grew 9.5%, contributing to 3.5% overall domestic revenue growth.
• Diluted net loss per share (GAAP) was $0.16, compared to diluted net loss per share (GAAP) of $0.08 in the first quarter of 2016.
• Adjusted diluted net earnings per share(1) were $0.38 versus $0.42 in the prior-year period.

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

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