ConMed’s orthopedic revenue of $115.8MM was up +5.1% in 2Q19 on continued strength in the power tools franchise and traction with new shoulder and extremity products.
- Increased 2019 guidance to the range of $951MM to $958MM, based in part on more favorable currency exchange trends
- New shoulder and extremity products are starting to gain traction
- New hip products have been slower to gain momentum, but leadership believes the October 2019 International Society for Hip Arthroplasty meeting will raise market awareness
Performance by Segment
ORTHOWORLD estimates segment sales and growth on an as-reported basis, as follows ($MM):
| 2Q19 | 2Q18 | $ Chg | % Chg |
| Sports Medicine | $115.8 | $110.1 | $5.7 | 5.1% |
| 1H19 | 1H18 | $ Chg | % Chg |
| Sports Medicine | $229.2 | $219.0 | $10.2 | 4.7% |
Sales by Geographic Region
ORTHOWORLD estimates geographic sales and growth as follows ($MM):
| 2Q19 | 2Q18 | $ Chg | % Chg |
| U.S. | $43.3 | $41.1 | $2.3 | 5.5% |
| Ex-U.S. | $72.4 | $69.1 | $3.3 | 4.8% |
| Â Â EMEA | $31.1 | $29.4 | $1.7 | 5.6% |
| Â Â Asia Pacific | $25.5 | $23.0 | $2.5 | 10.8% |
| Â Â Rest of World | $15.8 | $16.6 | -$0.8 | -4.9% |
| Total | $115.8 | $110.1 | $5.6 | 5.1% |
Net Earnings Data
Net earnings are as follows, inclusive of all ConMed revenue.
| Amt | % of Sales |
| Sales | $238.3 | |
| Â Â Cost of Sales | -$107.1 | 44.9% |
| Â Â Selling and Admin | -$100.7 | 42.3% |
| Â Â R&D | -$11.8 | 5.0% |
| Â Â Other | -$13.0 | 5.4% |
| Net Earnings | $5.7 | 2.4% |
Sources: ConMed; ORTHOWORLD estimates.
Mike Evers is ORTHOWORLD’s Market Analyst. He can be reached by email.
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