Conmed Corp. Q1 Profit Decreases, but beats estimates

(RTTNews) - Conmed Corp. (CNMD) released a profit for first quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings totaled $1.82 million, or $0.06 per share. This compares with $15.0 million, or $0.47 per share, in last year's first quarter.

Excluding items, Conmed Corp. reported adjusted earnings of $20.6 million or $0.66 per share for the period.

Analysts on average had expected the company to earn $0.60 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 22.0% to $295.5 million from $242.3 million last year.

Conmed Corp. earnings at a glance (GAAP) :

-Earnings (Q1): $1.82 Mln. vs. $15.0 Mln. last year. -EPS (Q1): $0.06 vs. $0.47 last year. -Analyst Estimates: $0.60 -Revenue (Q1): $295.5 Mln vs. $242.3 Mln last year.

-Guidance: Full year EPS guidance: $3.30-$3.50 Full year revenue guidance: $1.205-$1.250 bln