2011 Q4 Form 10-Q Financial Statement
#000081695611000003 Filed on November 01, 2011
Income Statement
Concept | 2011 Q4 | 2011 Q3 | 2010 Q3 |
---|---|---|---|
Revenue | $185.6M | $172.8M | $172.2M |
YoY Change | 0.81% | 0.36% | -1.88% |
Cost Of Revenue | $88.20M | $81.50M | $83.21M |
YoY Change | -5.36% | -2.05% | -5.23% |
Gross Profit | $96.45M | $91.31M | $88.98M |
YoY Change | 6.08% | 2.62% | 1.58% |
Gross Profit Margin | 51.97% | 52.84% | 51.68% |
Selling, General & Admin | $70.30M | $68.35M | $66.09M |
YoY Change | 2.93% | 3.42% | -2.09% |
% of Gross Profit | 72.89% | 74.85% | 74.27% |
Research & Development | $7.200M | $7.021M | $7.399M |
YoY Change | -11.11% | -5.11% | -3.91% |
% of Gross Profit | 7.46% | 7.69% | 8.32% |
Depreciation & Amortization | $10.30M | $9.600M | $9.600M |
YoY Change | 7.29% | 0.0% | 0.0% |
% of Gross Profit | 10.68% | 10.51% | 10.79% |
Operating Expenses | $77.50M | $75.37M | $73.78M |
YoY Change | 1.44% | 2.16% | -2.02% |
Operating Profit | $18.95M | $15.94M | $15.20M |
YoY Change | 30.5% | 4.85% | 23.59% |
Interest Expense | -$2.100M | $1.670M | $1.749M |
YoY Change | -27.59% | -4.52% | -156.42% |
% of Operating Profit | -11.08% | 10.48% | 11.51% |
Other Income/Expense, Net | |||
YoY Change | |||
Pretax Income | -$43.70M | $13.14M | $12.39M |
YoY Change | -512.26% | 6.01% | 552.32% |
Income Tax | -$18.60M | $4.928M | $3.636M |
% Of Pretax Income | 37.51% | 29.34% | |
Net Earnings | -$25.13M | $8.211M | $8.758M |
YoY Change | -460.97% | -6.25% | 573.69% |
Net Earnings / Revenue | -13.54% | 4.75% | 5.09% |
Basic Earnings Per Share | -$0.90 | $0.29 | $0.31 |
Diluted Earnings Per Share | -$0.90 | $0.29 | $0.31 |
COMMON SHARES | |||
Basic Shares Outstanding | 27.92M shares | 28.35M shares | 28.43M shares |
Diluted Shares Outstanding | 28.55M shares | 28.52M shares |
Balance Sheet
Concept | 2011 Q4 | 2011 Q3 | 2010 Q3 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $26.00M | $39.90M | $16.50M |
YoY Change | 109.68% | 141.82% | 16.2% |
Cash & Equivalents | $26.05M | $39.88M | $16.52M |
Short-Term Investments | |||
Other Short-Term Assets | $26.60M | $24.50M | $26.00M |
YoY Change | 35.03% | -5.77% | -5.11% |
Inventory | $168.4M | $174.8M | $183.3M |
Prepaid Expenses | |||
Receivables | $135.6M | $130.9M | $141.3M |
Other Receivables | $0.00 | $0.00 | $0.00 |
Total Short-Term Assets | $356.7M | $370.1M | $367.2M |
YoY Change | 1.87% | 0.79% | 16.17% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $139.2M | $139.6M | $141.8M |
YoY Change | -1.21% | -1.56% | -3.14% |
Goodwill | $234.8M | $295.0M | |
YoY Change | -20.42% | ||
Intangibles | $195.5M | $185.4M | |
YoY Change | 2.86% | ||
Long-Term Investments | |||
YoY Change | |||
Other Assets | $9.300M | $9.100M | $7.300M |
YoY Change | -2.11% | 24.66% | 12.31% |
Total Long-Term Assets | $578.9M | $629.1M | $635.7M |
YoY Change | -8.92% | -1.04% | 0.05% |
TOTAL ASSETS | |||
Total Short-Term Assets | $356.7M | $370.1M | $367.2M |
Total Long-Term Assets | $578.9M | $629.1M | $635.7M |
Total Assets | $935.6M | $999.2M | $1.003B |
YoY Change | -5.09% | -0.37% | 5.4% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $21.16M | $20.76M | $28.40M |
YoY Change | -2.44% | -26.9% | -8.39% |
Accrued Expenses | $31.10M | $25.90M | $26.50M |
YoY Change | 9.51% | -2.26% | 14.22% |
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Long-Term Debt Due | $54.56M | $166.4M | $43.20M |
YoY Change | -50.6% | 285.15% | 1957.14% |
Total Short-Term Liabilities | $131.2M | $232.6M | $116.9M |
YoY Change | -27.07% | 98.98% | 44.68% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $88.95M | $9.119M | $171.1M |
YoY Change | 4.43% | -94.67% | -6.45% |
Other Long-Term Liabilities | $49.60M | $27.17M | $23.50M |
YoY Change | 76.42% | 15.62% | 28.42% |
Total Long-Term Liabilities | $138.6M | $36.29M | $194.6M |
YoY Change | 22.29% | -81.35% | -3.28% |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $131.2M | $232.6M | $116.9M |
Total Long-Term Liabilities | $138.6M | $36.29M | $194.6M |
Total Liabilities | $362.5M | $389.4M | $423.2M |
YoY Change | -9.19% | -7.98% | 11.11% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | $354.4M | $379.6M | |
YoY Change | 0.12% | ||
Common Stock | $313.0K | $313.0K | |
YoY Change | 0.0% | ||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | $77.33M | $78.05M | |
YoY Change | 8.43% | ||
Treasury Stock Shares | |||
Shareholders Equity | $573.1M | $609.8M | $579.7M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $935.6M | $999.2M | $1.003B |
YoY Change | -5.09% | -0.37% | 5.4% |
Cashflow Statement
Concept | 2011 Q4 | 2011 Q3 | 2010 Q3 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$25.13M | $8.211M | $8.758M |
YoY Change | -460.97% | -6.25% | 573.69% |
Depreciation, Depletion And Amortization | $10.30M | $9.600M | $9.600M |
YoY Change | 7.29% | 0.0% | 0.0% |
Cash From Operating Activities | $26.30M | $36.50M | $9.800M |
YoY Change | 14.85% | 272.45% | -16.95% |
INVESTING ACTIVITIES | |||
Capital Expenditures | -$4.900M | -$4.100M | -$3.700M |
YoY Change | 28.95% | 10.81% | -27.45% |
Acquisitions | |||
YoY Change | |||
Other Investing Activities | -$4.100M | $0.00 | $0.00 |
YoY Change | 4000.0% | -100.0% | |
Cash From Investing Activities | -$9.000M | -$4.100M | -$3.800M |
YoY Change | 130.77% | 7.89% | -26.92% |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | -30.80M | -15.10M | 800.0K |
YoY Change | 36.28% | -1987.5% | -128.57% |
NET CHANGE | |||
Cash From Operating Activities | 26.30M | 36.50M | 9.800M |
Cash From Investing Activities | -9.000M | -4.100M | -3.800M |
Cash From Financing Activities | -30.80M | -15.10M | 800.0K |
Net Change In Cash | -13.50M | 17.30M | 6.800M |
YoY Change | 275.0% | 154.41% | 78.95% |
FREE CASH FLOW | |||
Cash From Operating Activities | $26.30M | $36.50M | $9.800M |
Capital Expenditures | -$4.900M | -$4.100M | -$3.700M |
Free Cash Flow | $31.20M | $40.60M | $13.50M |
YoY Change | 16.85% | 200.74% | -20.12% |
Facts In Submission
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NatureOfOperations
|
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;text-decoration:underline;">Operations</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">CONMED Corporation (“CONMED”, the “Company”, “we” or “us”) is a medical technology company with an emphasis on surgical devices and equipment for minimally invasive procedures and monitoring.  The Company’s products serve the clinical areas of arthroscopy, powered surgical instruments, electrosurgery, cardiac monitoring single-uses, endosurgery and endoscopic technologies.  They are used by surgeons and physicians in a variety of specialties including orthopedics, general surgery, gynecology, neurosurgery, and gastroenterology.</font></div></div> | ||
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
7044000 | USD | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-35861000 | USD | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-16081000 | USD | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-12744000 | USD | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
15290000 | USD | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
76709000 | USD | |
CY2010Q3 | us-gaap |
Operating Expenses
OperatingExpenses
|
73781000 | USD |
us-gaap |
Operating Expenses
OperatingExpenses
|
230920000 | USD | |
us-gaap |
Operating Expenses
OperatingExpenses
|
228581000 | USD | |
CY2011Q3 | us-gaap |
Operating Expenses
OperatingExpenses
|
75371000 | USD |
CY2011Q3 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
15940000 | USD |
CY2010Q3 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
15202000 | USD |
us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
49901000 | USD | |
us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
43541000 | USD | |
us-gaap |
Repayments Of Secured Debt
RepaymentsOfSecuredDebt
|
404000 | USD | |
us-gaap |
Proceeds From Accounts Receivable Securitization
ProceedsFromAccountsReceivableSecuritization
|
24000000 | USD | |
us-gaap |
Proceeds From Accounts Receivable Securitization
ProceedsFromAccountsReceivableSecuritization
|
0 | USD | |
CY2010Q4 | us-gaap |
Other Assets
OtherAssets
|
7518000 | USD |
CY2011Q3 | us-gaap |
Other Assets
OtherAssets
|
6874000 | USD |
CY2011Q3 | us-gaap |
Other Liabilities Current
OtherLiabilitiesCurrent
|
17877000 | USD |
CY2010Q4 | us-gaap |
Other Liabilities Current
OtherLiabilitiesCurrent
|
18357000 | USD |
CY2011Q3 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
27170000 | USD |
CY2010Q4 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
28116000 | USD |
CY2010Q3 | us-gaap |
Other Nonrecurring Expense
OtherNonrecurringExpense
|
291000 | USD |
us-gaap |
Other Nonrecurring Expense
OtherNonrecurringExpense
|
1261000 | USD | |
us-gaap |
Other Nonrecurring Expense
OtherNonrecurringExpense
|
792000 | USD | |
CY2011Q3 | us-gaap |
Other Nonrecurring Expense
OtherNonrecurringExpense
|
0 | USD |
us-gaap |
Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
|
22977000 | USD | |
us-gaap |
Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
|
15021000 | USD | |
us-gaap |
Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
|
72000 | USD | |
us-gaap |
Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
|
5226000 | USD | |
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
10855000 | USD | |
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
12672000 | USD | |
CY2011Q3 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.01 | |
CY2010Q4 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.01 | |
CY2010Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
500000 | shares |
CY2011Q3 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
500000 | shares |
CY2011Q3 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
0 | USD |
CY2010Q4 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
0 | USD |
CY2010Q4 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
11153000 | USD |
CY2011Q3 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
15833000 | USD |
CY2010Q3 | us-gaap |
Profit Loss
ProfitLoss
|
8758000 | USD |
us-gaap |
Profit Loss
ProfitLoss
|
23383000 | USD | |
CY2011Q3 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
139585000 | USD |
CY2010Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
140895000 | USD |
us-gaap |
Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
|
5759000 | USD | |
us-gaap |
Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
|
952000 | USD | |
us-gaap |
Profit Loss
ProfitLoss
|
25886000 | USD | |
CY2011Q3 | us-gaap |
Profit Loss
ProfitLoss
|
8211000 | USD |
us-gaap |
Repayments Of Senior Debt
RepaymentsOfSeniorDebt
|
1012000 | USD | |
us-gaap |
Repayments Of Senior Debt
RepaymentsOfSeniorDebt
|
23013000 | USD | |
CY2011Q3 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
7021000 | USD |
us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
21499000 | USD | |
CY2010Q3 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
7399000 | USD |
us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
21522000 | USD | |
CY2010Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
354020000 | USD |
CY2011Q3 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
379575000 | USD |
us-gaap |
Sales Revenue Net
SalesRevenueNet
|
529646000 | USD | |
CY2011Q3 | us-gaap |
Sales Revenue Net
SalesRevenueNet
|
172814000 | USD |
CY2010Q3 | us-gaap |
Sales Revenue Net
SalesRevenueNet
|
172195000 | USD |
us-gaap |
Sales Revenue Net
SalesRevenueNet
|
539500000 | USD | |
CY2011Q3 | us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
68350000 | USD |
us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
208137000 | USD | |
us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
206290000 | USD | |
CY2010Q3 | us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
66091000 | USD |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
3264000 | USD | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
3714000 | USD | |
CY2011Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
609754000 | USD |
CY2010Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
586563000 | USD |
CY2010Q4 | us-gaap |
Treasury Stock Number Of Shares Held
TreasuryStockNumberOfSharesHeld
|
3077377 | shares |
CY2011Q3 | us-gaap |
Treasury Stock Number Of Shares Held
TreasuryStockNumberOfSharesHeld
|
3389079 | shares |
CY2010Q4 | us-gaap |
Treasury Stock Value
TreasuryStockValue
|
71315000 | USD |
CY2011Q3 | us-gaap |
Treasury Stock Value
TreasuryStockValue
|
78045000 | USD |
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
29073000 | shares | |
CY2010Q3 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
28521000 | shares |
CY2011Q3 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
28546000 | shares |
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
28734000 | shares | |
CY2011Q3 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
28348000 | shares |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
28896000 | shares | |
CY2010Q3 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
28425000 | shares |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
28355000 | shares | |
dei |
Amendment Flag
AmendmentFlag
|
false | ||
dei |
Current Fiscal Year End Date
CurrentFiscalYearEndDate
|
--12-31 | ||
dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
Q3 | ||
dei |
Document Fiscal Year Focus
DocumentFiscalYearFocus
|
2011 | ||
dei |
Document Period End Date
DocumentPeriodEndDate
|
2011-09-30 | ||
dei |
Document Type
DocumentType
|
10-Q | ||
dei |
Entity Central Index Key
EntityCentralIndexKey
|
0000816956 | ||
CY2011Q4 | dei |
Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
|
27918777 | shares |
dei |
Entity Current Reporting Status
EntityCurrentReportingStatus
|
Yes | ||
dei |
Entity Filer Category
EntityFilerCategory
|
Accelerated Filer | ||
dei |
Entity Registrant Name
EntityRegistrantName
|
CONMED CORP | ||
dei |
Entity Voluntary Filers
EntityVoluntaryFilers
|
No | ||
dei |
Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
|
No |