Conmed: 2Q Earnings Snapshot
Aug. 01, 2018
UTICA, N.Y. (AP) _ Conmed Corp. (CNMD) on Wednesday reported second-quarter net income of $8.7 million.
On a per-share basis, the Utica, New York-based company said it had net income of 30 cents. Earnings, adjusted for amortization costs and pretax expenses, were 46 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 45 cents per share.
The medical technology company posted revenue of $212.8 million in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $206.9 million.
Conmed expects full-year earnings in the range of $2.15 to $2.20 per share.
Conmed shares have climbed 50 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $76.28, a rise of 49 percent in the last 12 months.