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Conmed Corp Reiterates FY 2013 EPS Guidance; Lowers FY 2013 Revenue Guidance; Issues Q2 2013 Guidance In Line With Analysts' Estimates


Thursday, 25 Apr 2013 07:01am EDT 

Conmed Corp reiterated its fiscal 2013 adjusted earnings per share guidance (EPS) of $1.80-$1.90 which contemplates the effects of the medical device tax and less favorable FX exchange rates. While the Company believe the overall economic environment may improve toward the latter half of 2013, the Company consider it prudent to reduce the estimated fiscal 2013 sales forecast by $15 million to $770-$780 million. For the second quarter of 2013, the Company anticipate sales to approximate $191-$196 million and adjusted earnings per share (EPS) are forecasted to be $0.41-$0.46. The adjusted estimates for the second quarter and full year 2013 exclude unusual matters, such as patent litigation and manufacturing restructuring costs expected to be incurred in 2013 due to the relocation of manufacturing activities from the Westborough, Massachusetts and Tampere, Finland sites to the Company's other facilities. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report EPS of $1.86 and revenue of $790 million for fiscal 2013; and revenue of $195 million and EPS of $0.45 the second quarter of 2013. 

Company Quote

41.91
0.19 +0.46%
21 Nov 2014