Utica, N.Y.-based CONMED reported its second quarter financial results, ending June 30.
Here are 10 key points:
1. CONMED reported sales totaling $193.4 million, reflecting a 6.9 percent increase over the second quarter of 2015.
2. The company's domestic sells reflected 51 percent of total revenue, and increased 10.9 percent over the same period the year prior. The general surgery segment experienced growth, which offset orthopedics and visualization decreases.
3. International sales accounted for 49 percent of total revenue and increased 2.9 percent over the same period the year prior.
4. The company's net earnings hit $2.9 million for the second quarter.
5. Adjusted diluted net earnings per share totaled $0.47, compared to $0.43 in the same period the year prior.
6. The company's GAAP gross margin increased to 52.9 percent, year over year.
7. CONMED's adjusted gross margin rose to 55.4 percent, year over year.
8. The company's diluted net earnings per share hit $0.10 in the second quarter.
9. CONMED acquired SurgiQuest, which accounted for 26.5 percent year-over-year growth in the U.S. general surgery line.
10. Looking ahead, CONMED has adjusted its 2016 sales to between $757 and $767 million. Also, the company has reported new adjusted diluted net earnings per share between $1.83 and $1.93, compared to previous estimates of $1.95 to $2.05.
"Looking to the remainder of the year, we will continue to invest in innovative products, to focus on operating efficiencies and to pursue our strategic initiatives to position the company for continued improvement and growth," said Curt R. Hartman, president and CEO, CONMED.