2013 Q4 Form 10-Q Financial Statement

#000081695613000011 Filed on October 28, 2013

View on sec.gov

Income Statement

Concept 2013 Q4 2013 Q3 2012 Q3
Revenue $203.4M $179.3M $181.9M
YoY Change 1.09% -1.45% 5.25%
Cost Of Revenue $95.10M $83.83M $83.97M
YoY Change 4.05% -0.17% 3.03%
Gross Profit $111.4M $95.42M $97.91M
YoY Change 3.83% -2.54% 7.23%
Gross Profit Margin 54.76% 53.23% 53.83%
Selling, General & Admin $83.90M $73.48M $74.06M
YoY Change 5.01% -0.79% 8.36%
% of Gross Profit 75.32% 77.0% 75.64%
Research & Development $6.400M $7.108M $7.077M
YoY Change -7.25% 0.44% 0.8%
% of Gross Profit 5.75% 7.45% 7.23%
Depreciation & Amortization $12.40M $11.70M $11.70M
YoY Change 5.08% 0.0% 21.88%
% of Gross Profit 11.13% 12.26% 11.95%
Operating Expenses $85.50M $86.62M $83.80M
YoY Change -1.38% 3.37% 11.18%
Operating Profit $25.89M $8.805M $14.11M
YoY Change 25.78% -37.62% -11.46%
Interest Expense -$1.500M $1.382M $1.345M
YoY Change 7.14% 2.75% -19.46%
% of Operating Profit -5.79% 15.7% 9.53%
Other Income/Expense, Net
YoY Change
Pretax Income $14.70M $7.423M $12.77M
YoY Change -5.77% -41.87% -2.82%
Income Tax $4.500M $1.736M $3.449M
% Of Pretax Income 30.61% 23.39% 27.01%
Net Earnings $10.23M $5.687M $9.320M
YoY Change -6.15% -38.98% 13.51%
Net Earnings / Revenue 5.03% 3.17% 5.12%
Basic Earnings Per Share $0.37 $0.21 $0.33
Diluted Earnings Per Share $0.36 $0.20 $0.32
COMMON SHARES
Basic Shares Outstanding 27.61M shares 27.52M shares 28.44M shares
Diluted Shares Outstanding 27.83M shares 28.72M shares

Balance Sheet

Concept 2013 Q4 2013 Q3 2012 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $54.40M $49.80M $19.80M
YoY Change 129.54% 151.52% -50.38%
Cash & Equivalents $54.44M $49.83M $19.82M
Short-Term Investments
Other Short-Term Assets $30.20M $29.10M $25.40M
YoY Change 12.27% 14.57% 3.67%
Inventory $143.2M $151.0M $165.3M
Prepaid Expenses
Receivables $140.4M $130.6M $132.9M
Other Receivables $3.800M $3.400M $1.300M
Total Short-Term Assets $372.1M $363.9M $344.7M
YoY Change 6.66% 5.58% -6.87%
LONG-TERM ASSETS
Property, Plant & Equipment $139.0M $138.5M $139.8M
YoY Change -0.04% -0.91% 0.14%
Goodwill $248.4M $248.5M $256.8M
YoY Change -0.03% -3.24% -12.94%
Intangibles $319.4M $322.7M $192.7M
YoY Change -4.41% 67.44% 3.98%
Long-Term Investments
YoY Change
Other Assets $11.50M $10.30M $154.8M
YoY Change 40.24% -93.35% 1601.1%
Total Long-Term Assets $718.4M $720.0M $744.1M
YoY Change -1.59% -3.24% 18.29%
TOTAL ASSETS
Total Short-Term Assets $372.1M $363.9M $344.7M
Total Long-Term Assets $718.4M $720.0M $744.1M
Total Assets $1.091B $1.084B $1.089B
YoY Change 1.08% -0.45% 8.97%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $27.45M $27.24M $31.94M
YoY Change 16.2% -14.72% 53.84%
Accrued Expenses $33.40M $26.10M $27.10M
YoY Change -0.3% -3.69% 4.63%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $1.140M $1.093M $1.009M
YoY Change 8.57% 8.33% -99.39%
Total Short-Term Liabilities $111.3M $100.9M $125.5M
YoY Change -11.14% -19.65% -46.03%
LONG-TERM LIABILITIES
Long-Term Debt $214.4M $224.0M $168.4M
YoY Change 33.35% 33.0% 1747.1%
Other Long-Term Liabilities $45.29M $59.61M $86.05M
YoY Change -47.72% -30.72% 216.69%
Total Long-Term Liabilities $259.7M $283.6M $254.5M
YoY Change 4.97% 11.45% 601.26%
TOTAL LIABILITIES
Total Short-Term Liabilities $111.3M $100.9M $125.5M
Total Long-Term Liabilities $259.7M $283.6M $254.5M
Total Liabilities $484.2M $491.7M $486.3M
YoY Change 2.61% 1.1% 24.88%
SHAREHOLDERS EQUITY
Retained Earnings $395.9M $391.2M $371.3M
YoY Change 4.76% 5.36% -2.19%
Common Stock $313.0K $313.0K $313.0K
YoY Change 0.0% 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $98.75M $96.71M $64.90M
YoY Change 45.3% 49.02% -16.85%
Treasury Stock Shares
Shareholders Equity $606.3M $592.2M $602.4M
YoY Change
Total Liabilities & Shareholders Equity $1.091B $1.084B $1.089B
YoY Change 1.08% -0.45% 8.97%

Cashflow Statement

Concept 2013 Q4 2013 Q3 2012 Q3
OPERATING ACTIVITIES
Net Income $10.23M $5.687M $9.320M
YoY Change -6.15% -38.98% 13.51%
Depreciation, Depletion And Amortization $12.40M $11.70M $11.70M
YoY Change 5.08% 0.0% 21.88%
Cash From Operating Activities $27.30M $30.40M $28.00M
YoY Change -19.47% 8.57% -23.29%
INVESTING ACTIVITIES
Capital Expenditures -$4.800M -$5.400M -$4.400M
YoY Change -12.73% 22.73% 7.32%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 -$18.70M
YoY Change -100.0% -100.0%
Cash From Investing Activities -$4.800M -$5.400M -$23.10M
YoY Change -32.39% -76.62% 463.41%
FINANCING ACTIVITIES
Cash Dividend Paid $4.300M
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -17.50M -14.60M -600.0K
YoY Change -16.27% 2333.33% -96.03%
NET CHANGE
Cash From Operating Activities 27.30M 30.40M 28.00M
Cash From Investing Activities -4.800M -5.400M -23.10M
Cash From Financing Activities -17.50M -14.60M -600.0K
Net Change In Cash 5.000M 10.40M 4.300M
YoY Change -15.25% 141.86% -75.14%
FREE CASH FLOW
Cash From Operating Activities $27.30M $30.40M $28.00M
Capital Expenditures -$4.800M -$5.400M -$4.400M
Free Cash Flow $32.10M $35.80M $32.40M
YoY Change -18.53% 10.49% -20.2%

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<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 (&#8220;CONMED&#8221;, the &#8220;Company&#8221;, &#8220;we&#8221; or &#8220;us&#8221;) is a medical technology company with an emphasis on surgical devices and equipment for minimally invasive procedures and monitoring.&#160;&#160;The Company&#8217;s products are used by surgeons and physicians in a variety of specialties including orthopedics, general surgery, gynecology, neurosurgery and gastroenterology.</font></div></div>
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cnmd Payments For Contingent Payments
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cnmd Payments For Contingent Payments
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cnmd Payments Related To Distribution Agreement
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CY2013Q3 cnmd Product Liability Contingency Insurance Aggregate Annual Amount
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dei Amendment Flag
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dei Current Fiscal Year End Date
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dei Document Fiscal Period Focus
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dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2013
dei Document Period End Date
DocumentPeriodEndDate
2013-09-30
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0000816956
CY2013Q4 dei Entity Common Stock Shares Outstanding
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27614196 shares
dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
dei Entity Registrant Name
EntityRegistrantName
CONMED CORP

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