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Product / Company Performance

ConMed Reports 1Q19 Orthopedic Revenue of $113.4MM, +4.2% vs. 1Q18 -

By Mike Evers, ORTHOWORLD

ConMed reported 1Q19 orthopedic revenue of USD $113.4MM, +4.2% vs. 1Q18.

  • Increased 2019 guidance by .25%, bringing the range to 5.25% to 6.25%
  • Sixth consecutive quarter of orthopedic revenue growth
  • Orthopedic revenue driven by new products like the cordless MicroFree System
  • Released a hip system with additional components slated for launch in 1H19

 

ConMed’s segment sales and growth on an as-reported basis are as follows ($MM).

  1Q19 1Q18 $ Chg % Chg
Sports Medicine $113.4 $108.9 $4.6 4.2%

ORTHOWORLD estimates ConMed’s orthopedic revenue by geographic region as follows ($MM).

Geographic Region 1Q19 1Q18 $ Chg % Chg
U.S. $43.8 $41.3 $2.5 6.1%
Ex-U.S. $69.6 $67.6 $2.0 3.0%
   EMEA $28.7 $28.0 $0.7 2.5%
   Asia Pacific $24.1 $23.5 $0.5 2.3%
   Rest of World $16.9 $16.1 $0.8 4.8%
Total $113.4 $108.9 $4.6 4.2%

Net earnings are as follows, inclusive of all ConMed revenue.

1Q19 Amount ($MM) % of Sales
Sales $218.4  
   Cost of Sales -$96.9 44.4%
   Selling and Admin -$99.2 45.4%
   R&D -$10.6 4.8%
   Other -$10.6 4.9%
Net Earnings $1.0 0.5%

 

Sources: ConMed; ORTHOWORLD estimates.

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

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