CONMED Earnings: Here’s Why Shares are Down Now

CONMED Corporation (NASDAQ:CNMD) delivered a profit and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 1.13%.

CONMED Corporation Earnings Cheat Sheet

Results: Adjusted Earnings Per Share were the same at $0.43 in the quarter as EPS of $0.43 in the year-earlier quarter.

Revenue: Rose 1.74% to $193 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: CONMED Corporation reported adjusted EPS income of $0.43 per share. By that measure, the company missed the mean analyst estimate of $0.44. It missed the average revenue estimate of $193.55 million.

Quoting Management: “We met our previously forecasted revenues and earnings in the second quarter of 2013 despite a challenging global economy affecting healthcare utilization and hospital capital spending,” commented Mr. Joseph J. Corasanti, President and CEO. “Having a broad product portfolio such as ours is extremely beneficial in this environment. It allows us to meet our customers’ needs and to take advantage of opportunities as evidenced by the strong showing this quarter in the Surgical Visualization product line.”

Key Stats (on next page)…

Revenue increased 3.2% from $187.01 million in the previous quarter. EPS decreased 4.44% from $0.45 in the previous quarter.

Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.43 to a profit $0.42. For the current year, the average estimate is a profit of $1.86, which is the same with that ninety days ago.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)