Conmed (NASDAQ: CNMD) reported Q4 EPS of $0.69, $0.04 better than the analyst estimate of $0.65. Revenue for the quarter came in at $222.6 million versus the consensus estimate of $212.16 million.

Fourth Quarter 2017 Highlights

• Sales of $222.6 million increased 9.0% as reported and 7.9% in constant currency as compared to the fourth quarter of 2016.
• Domestic revenue increased 7.8% year over year and was driven by growth in both General Surgery and Orthopedics.
• International revenue increased 10.4% as reported and 8.0% in constant currency, driven by continued growth in General Surgery and Orthopedics.
• Adjusted gross margin expanded 240 basis points to 55.8%.
• Diluted net earnings per share (GAAP) were $1.65, compared to diluted net earnings per share (GAAP) of $0.24 in the fourth quarter of 2016.
• Adjusted diluted net earnings per share(1) were $0.69 versus $0.54 in the prior-year period, an increase of 27.8%.

2018 Outlook

The Company expects full-year 2018 constant currency sales growth in the 4.0% to 5.0% range. Based on recent exchange rates, the positive impact to 2018 sales from foreign exchange is anticipated to be between approximately 100 and 150 basis points.

In addition, the Company forecasts full-year 2018 adjusted diluted net earnings per share in the range of $2.11 to $2.17. This represents growth over 2017 of approximately 12% to 15%. The adjusted diluted net earnings per share estimates for 2018 exclude the cost of special items including acquisition costs and restructuring costs, which are estimated in the range of $3 to $5 million, net of tax, and amortization of intangible assets, which are estimated in the range of $16 to $18 million, net of tax.

GUIDANCE:

Conmed sees FY2018 EPS of $2.11-$2.17, versus the consensus of $2.07.

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