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Product / Company Performance

ConMed Orthopedic Revenue +Up 5.1% in 2Q19 -

By Mike Evers, ORTHOWORLD

 

ConMed’s orthopedic revenue 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%
   EMEA $31.1 $29.4 $1.7 5.6%
   Asia Pacific $25.5 $23.0 $2.5 10.8%
   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  
   Cost of Sales -$107.1 44.9%
   Selling and Admin -$100.7 42.3%
   R&D -$11.8 5.0%
   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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