Globus Medical (GMED) Tops Q3 EPS by 3c; Announces CFO Resignation

Globus Medical (NYSE: GMED) reported Q3 EPS of $0.24, $0.03 better than the analyst estimate of $0.21. Revenue for the quarter came in at $117.8 million versus the consensus estimate of $113.1 million.

he Company also announced the resignation of Rick Baron, Senior Vice President and Chief Financial Officer. Mr. Baron, who is resigning to pursue other interests, will remain with the Company to assist with the transition during the search for his replacement. As part of the Company’s transition plan, Mr. Baron will step down as the Company’s Chief Financial Officer, effective on November 3, 2014, to allow him to focus on issues related to the transition. Dave Demski, the Company’s President and Chief Operating Officer, will also assume the role of the Company’s Chief Financial Officer on an interim basis until the new Chief Financial Officer is hired. Mr. Demski previously served as the Company’s Chief Financial Officer from 2003 until his promotion to President and Chief Operating Officer in 2008.

For earnings history and earnings-related data on Globus Medical (GMED) click here.

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