Conmed grows Q3 sales 15% — 5 insights

Spinal Tech

Conmed posted third quarter 2019 sales of $233.6 million, a 15.6 percent year-over-year increase.

What you should know:

1. Conmed attributed the sales growth to its acquisitions, stating the acquisitions contributed to 680 basis points of growth.

2. The company's domestic revenues increased 19.2 percent year over year.

3. Conmed reported diluted earnings per share of $0.23, which was up from the $0.20 per share earnings for the same period in 2018.

4. Conmed's orthopedic segment continued to drive growth. The orthopedic division had $110.3 million in sales, up from $102.9 million for the same period in 2018.

5. Conmed maintained its future guidance, expecting sales growth between 6 percent to 6.5 percent.

"Our solid third quarter results were balanced across our product lines and geographies," said Conmed's President and CEO Curt Hartman. "We are delivering on our commitment to drive increased profitability, while also continuing to invest for sustainable above-market growth on the top and bottom lines. We believe the strong year-to-date performance in 2019 positions us well to continue to deliver at least mid-single-digit revenue growth and double-digit adjusted earnings growth in 2020 and beyond."

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