Brief: Conmed Corp Sees FY Adj Earnings Per Share In Range $3.20 To $3.50

Conmed

15/11/2022 12:39

Nov 15 (Reuters) - Conmed Corp  CNMD.N :
    * CONMED CORP SEES FY ADJUSTED EARNINGS PER SHARE $3.20 TO
$3.50
    * CONMED CORP SEES FY REVENUE $1.17 BILLION TO $1.23 BILLION
    * CONMED CORP - SEES  2023 ADJUSTED DILUTED NET EARNINGS PER
SHARE
IN RANGE OF $3.20 TO $3.50
    * CONMED CORP - IN RECENT WEEKS, BEGAN IMPLEMENTING NEW
SOFTWARE
DESIGNED TO INCREASE EFFICIENCY AND PERFORMANCE OF ITS PRIMARY
DISTRIBUTION FACILITY
    * CONMED CORP - WITHDRAWS 2022 FINANCIAL OUTLOOK DUE TO
TEMPORARY
IMPACT FROM SOFTWARE IMPLEMENTATION
    * CONMED CORP - IMPLEMENTATION OF NEW SOFTWARE CREATED
SHIPPING
DISRUPTIONS THAT LASTED LONGER THAN ORIGINALLY PROJECTED
    * CONMED - CURRENTLY UNABLE TO FULLY ASSESS IMPACT ON Q4
SALES AND
PROFITABILITY AS IT CONTINUES TO INCUR COSTS WHILE WORKING TO
REDUCE SHIPPING BACKLOG
    * CONMED - DAILY SHIPMENT VOLUMES HAVE RETURNED TO NORMAL
LEVELS,
REDUCED SHIPPING BACKLOG FROM A PEAK OF ABOUT $35 MILLION LAST
WEEK TO ABOUT $28 MILLION TODAY
    * CONMED - BELIEVES BACKLOG OF OPEN ORDERS WILL BE SHIPPED
IN
COMING WEEKS AND ANTICIPATES IMPACT TO BUSINESS PERFORMANCE WILL
BE LIMITED TO Q4 OF 2022
    * CONMED CORP - WITHDRAWAL OF FULL-YEAR 2022 FINANCIAL
OUTLOOK IS
SOLELY ATTRIBUTABLE TO IMPACT OF SOFTWARE IMPLEMENTATION
    * CONMED CORP - FINANCIAL OUTLOOK PROVIDED IS FOR 2023

Source text for Eikon:  ID:nBw9Fq2rva 
Further company coverage:  CNMD.N 
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