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Conmed: 2Q Earnings Snapshot

UTICA, N.Y. (AP) _ Conmed Corp. (CNMD) on Wednesday reported second-quarter earnings of $5.7 million.

On a per-share basis, the Utica, New York-based company said it had profit of 19 cents. Earnings, adjusted for amortization costs and costs related to mergers and acquisitions, were 56 cents per share.

The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 53 cents per share.

The medical technology company posted revenue of $238.3 million in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $233.1 million.

Conmed expects full-year earnings in the range of $2.52 to $2.57 per share, with revenue in the range of $951 million to $958 million.

Conmed shares have risen 36% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $87.35, a rise of 18% in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CNMD at https://www.zacks.com/ap/CNMD