CONMED (US:CNMD)2025-04-30 20:13Financial Performance - CONMED Corporation reported first quarter 2025 sales of $321.3 million, an increase of 2.9% year-over-year and 3.8% in constant currency[7]. - Domestic revenue grew by 4.2% year-over-year, while international revenue increased by 1.2% as reported and 3.4% in constant currency[7]. - Full-year reported revenue is now expected to be between $1.350 billion and $1.378 billion, compared to the prior guidance of $1.344 billion to $1.372 billion[4]. - Net income for the three months ended March 31, 2025, was $6.036 million, a decrease of 69.4% compared to $19.709 million in the same period of 2024[20]. - Adjusted EBITDA increased to $61.302 million, up 8.9% from $56.301 million year-over-year[20]. Earnings and Margins - Adjusted diluted net earnings per share for 2025 are expected to be in the range of $4.45 to $4.60, up from the previous range of $4.25 to $4.40[5]. - Diluted net earnings per share (GAAP) were $0.19, down from $0.63 in the first quarter of 2024[7]. - The company's gross profit margin for the first quarter was 55.3%, slightly up from 55.1% in the same quarter of 2024[11]. - EBITDA margin for the three months ended March 31, 2025, was 10.6%, down from 17.0% in the same period of 2024[20]. Expenses and Costs - Research and development expenses for the first quarter were $12.9 million, compared to $13.6 million in the first quarter of 2024[11]. - The company incurred executive transition costs of $12.165 million during the quarter, which were not present in the previous year[20]. - Interest expense decreased to $8.286 million from $9.594 million, reflecting a reduction of 13.7%[20]. - Provision for income taxes was $1.636 million, down from $5.710 million, indicating a decrease of 71.3%[20]. Currency and Tariff Impact - The company anticipates a negative impact of approximately $0.14 on EPS in the second half of 2025 due to recent tariff announcements[5]. - The company expects revenue currency headwinds of approximately 50 to 70 basis points, an improvement from the previous estimate of 100 to 120 basis points[4]. - The company analyzes net sales on a constant currency basis to measure comparability between periods, excluding the impact of foreign currency exchange rates[24]. Investor Engagement - The company will host a conference call to discuss the first quarter results, indicating ongoing engagement with investors[8]. - Forward-looking statements indicate potential risks and uncertainties that could affect future performance, as detailed in the company's Annual Report[22]. Other Financial Metrics - The company reported a gain on the sale of a product line amounting to $(354) thousand, with no comparable figure in the previous year[20]. - The company emphasizes the importance of non-GAAP measures, such as adjusted net income and adjusted diluted EPS, for understanding financial results[23].