The Largo, Fla.-based company yesterday reported profits of $24.1 million, or 81¢ per share, on sales of $252.8 million for the three months ended Dec. 31, 2020, for a bottom-line gain of 61.7% sales loss of -4.5% compared with Q4 2019.
Adjusted to exclude one-time items, earnings per share were 84¢, 25¢ ahead of The Street, where analysts were looking for sales of $235.6 million.
“I am very pleased with the agility and resilience that our team showed as it responded to a challenging fourth quarter operating environment, which reflected the ongoing impacts from COVID-19 on our customers’ surgical procedure volumes,” president and CEO Curt Hartman said in a news release. “While challenges remain as we enter 2021, we expect to see improvement in procedure volumes as vaccines become more readily available. I remain confident that Conmed enters 2021 better positioned than ever to achieve long-term success as we continue to deliver innovative products to our customers.”
ConMed said it expects full-year 2021 revenue to be between $975 million and $1.02 billion. It expects to log full-year 2021 adjusted diluted net EPS in the range of $2.85 to $3.05.
Shares in CNMD were down -3.98% to $110.39 apiece in mid-morning trading.