Conmed Corp. Q3 Profit Decreases, but beats estimates

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

The company's earnings came in at $15.8 million, or $0.50 per share. This compares with $46.2 million, or $1.48 per share, in last year's third quarter.

Excluding items, Conmed Corp. reported adjusted earnings of $28.4 million or $0.90 per share for the period.

Analysts on average had expected the company to earn $0.83 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 10.7% to $304.6 million from $275.1 million last year.

Conmed Corp. earnings at a glance (GAAP) :

-Earnings (Q3): $15.8 Mln. vs. $46.2 Mln. last year. -EPS (Q3): $0.50 vs. $1.48 last year. -Analyst Estimates: $0.83 -Revenue (Q3): $304.6 Mln vs. $275.1 Mln last year.

-Guidance: Full year EPS guidance: $3.45 to $3.55 Full year revenue guidance: $1.24bln - $1.26bln