Key Developments For CONMED Corporation
CONMED Corporation (CNMD.O) (Nasdaq)
ConMed Corporation Announces Launch Of Bullseye Anatomic Cruciate Reconstruction System
ConMed Corporation announced the release of the Bullseye Anatomic Cruciate Reconstruction System, a novel guide system for anatomic cruciate ligament (ACL and PCL) reconstructions of the knee.
ConMed Corporation Issues Q4 2009 Outlook; EPS Outlook Above Analysts' Estimates; Issues FY 2010 Outlook Above Analysts' Estimates
ConMed Corporation announced that fourth quarter of 2009, it expects sales to approximate $178-$183 million and non-GAAP earnings per share (EPS) to approximate $0.30-$0.35. For fiscal 2010, it expects sales to be $715-$725 million with non-GAAP diluted EPS estimated to be $1.20-$1.30. According to Reuters Estimates, analysts were expecting the Company to report revenues of $180 million and EPS of $0.28 for fourth quarter of 2009 and revenues of $706 million and EPS of $1.17 for fiscal 2010.
ConMed Corporation Comments On FY 2010 Earnings Guidance-Conference Calls
ConMed Corporation announced that for fiscal 2010, it expects improved profitability over fiscal 2009. According to Reuters Estimates, analysts are expecting the Company to report earnings per share of $1.25, net profit of $38 million for fiscal 2010.
ConMed Corporation Announces Voluntary Recall Of Certain Powered Surgical Instrument Products
ConMed Corporation's CONMED Linvatec unit announced a voluntary recall for certain model numbers of the PRO5 & PRO6 series battery handpieces manufactured prior to May 31, 2008, and certain lots of the MC5057 Universal Cable manufactured prior to December 1, 2006 used with certain of CONMED Linvatec's electric powered handpieces. CONMED Linvatec issued Medical Device Safety Alert letters to customers dated July 31, 2009 providing information on findings from the Company's ongoing continuous quality improvement process. Following discussions with the Food and Drug Administration, CONMED Linvatec has now developed a voluntary recall program for the affected products.
ConMed Corporation Lowers FY 2009 Guidance; Issues Q3 2009 Guidance Below Analysts' Estimates
ConMed Corporation lowered its fiscal 2009 sales guidance by $10.0 million to $670-$680 million and the non-GAAP earnings per share (EPS) guidance by $0.07 to $0.85-$0.95. For the third quarter of 2009, it expects revenues and earnings to be in-line sequentially with the first two quarters of 2009: namely, sales of $163-$168 million and non-GAAP diluted EPS of $0.15-$0.20. The non-GAAP estimates for the year and the third quarter exclude the additional non-cash interest expense required by FSP APB 14-1, the net pension gain from the first quarter of 2009, and all of the manufacturing restructuring costs and facility consolidation expenses expected to be incurred in fiscal 2009. According to Reuters Estimates, analysts are expecting the Company to report EPS of $0.87 on revenues of $673 million for fiscal 2009; EPS of $0.23 on revenues of $169 million for the third quarter of 2009.
