CONMED Q3 Profit Surges

(RTTNews) - CONMED Corporation (CNMD) Wednesday reported third-quarter net income of $48.98 million or $1.57 per share, compared to $15.84 million or $0.50 per share last year.

On an adjusted basis, earnings for the quarter were $1.05 per share, compared to $0.90 per share last year.

Revenues for the quarter were $316.70 million, compared to $304.58 million last year.

Analysts polled by Thomson Reuters expected earnings of $0.99 per share on revenues of $318.13 million for the quarter.

Looking forward to the full year, revenues are now expected to be between $1.300 billion and $1.305 billion, compared to the prior guidance range of $1.305 billion to $1.315 billion. The company expects full-year adjusted earnings per share of $4.00 to $4.05, compared to its prior range of $3.95 to $4.02.

Analysts currently estimate earnings of $3.99 per share and revenues of $1.31 billion for the full year.