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Product / Company Performance

ConMed Grows Above Market on Leadership Continuity and New Products -

ConMed reported 3Q19 revenue of USD $110.3MM, +7.2% vs. 3Q18.

  • ConMed updated full year 2019 revenue guidance to the range of $951.3MM (+10.7%) to $956.6MM (+11.3%)
  • Growth driven by continuity of leadership and new products integrated with training and education programs
  • Recurring, single-use products comprise 70% of the company’s orthopedic revenue
  • ORTHOWORLD projects ConMed sports medicine full year 2019 revenue of $466.9MM, +4.5% vs. 2018

 

ORTHOWORLD estimates segment sales and growth on an as-reported basis, as follows ($MM).

  3Q19 3Q18 $ Chg % Chg
Sports Medicine $110.3 $102.9 $7.4 7.2%
  9Mo 19 9Mo 18 $ Chg % Chg
Sports Medicine $339.5 $321.9 $17.6 5.5%

ORTHOWORLD estimates orthopedic sales by geographic region as follows ($MM).

  3Q19 3Q18 $ Chg % Chg
U.S. $42.5 $39.6 $3.0 7.5%
Ex-U.S. $67.8 $63.4 $4.4 7.0%
   EMEA $24.7 $23.2 $1.5 6.4%
   Asia Pacific $26.0 $25.2 $0.8 3.3%
   Rest of World $17.1 $14.9 $2.1 14.2%
Total $110.3 $102.9 $7.4 7.2%

Net earnings are as follows ($MM).

  Amt % of Sales
Sales $233.6  
   Cost of Sales -$103.5 44.3%
   Selling and Admin -$98.2 42.0%
   R&D -$11.0 4.7%
   Other -$14.0 6.0%
Net Earnings $7.0 3.0%

Mike Evers is ORTHOWORLD’s Market Analyst. He can be reached by email.

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