2014 Q4 Form 10-Q Financial Statement

#000081695614000012 Filed on October 24, 2014

View on sec.gov

Income Statement

Concept 2014 Q4 2014 Q3 2013 Q3
Revenue $195.0M $175.0M $179.3M
YoY Change -4.15% -2.4% -1.45%
Cost Of Revenue $89.10M $78.55M $83.83M
YoY Change -6.31% -6.3% -0.17%
Gross Profit $104.0M $96.41M $95.42M
YoY Change -6.61% 1.04% -2.54%
Gross Profit Margin 53.35% 55.11% 53.23%
Selling, General & Admin $76.40M $87.06M $73.48M
YoY Change -8.94% 18.48% -0.79%
% of Gross Profit 73.44% 90.29% 77.0%
Research & Development $7.100M $6.910M $7.108M
YoY Change 10.94% -2.79% 0.44%
% of Gross Profit 6.82% 7.17% 7.45%
Depreciation & Amortization $11.70M $11.70M $11.70M
YoY Change -5.65% 0.0% 0.0%
% of Gross Profit 11.25% 12.14% 12.26%
Operating Expenses $74.00M $93.97M $86.62M
YoY Change -13.45% 8.48% 3.37%
Operating Profit $30.03M $2.449M $8.805M
YoY Change 15.98% -72.19% -37.62%
Interest Expense -$1.500M $1.540M $1.382M
YoY Change 0.0% 11.43% 2.75%
% of Operating Profit -4.99% 62.88% 15.7%
Other Income/Expense, Net
YoY Change
Pretax Income $15.60M $909.0K $7.423M
YoY Change 6.12% -87.75% -41.87%
Income Tax $4.200M -$1.063M $1.736M
% Of Pretax Income 26.92% -116.94% 23.39%
Net Earnings $11.34M $1.972M $5.687M
YoY Change 10.87% -65.32% -38.98%
Net Earnings / Revenue 5.81% 1.13% 3.17%
Basic Earnings Per Share $0.41 $0.07 $0.21
Diluted Earnings Per Share $0.41 $0.07 $0.20
COMMON SHARES
Basic Shares Outstanding 27.53M shares 27.45M shares 27.52M shares
Diluted Shares Outstanding 27.69M shares 27.83M shares

Balance Sheet

Concept 2014 Q4 2014 Q3 2013 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $66.30M $64.60M $49.80M
YoY Change 21.88% 29.72% 151.52%
Cash & Equivalents $66.33M $64.61M $49.83M
Short-Term Investments
Other Short-Term Assets $36.80M $30.50M $29.10M
YoY Change 21.85% 4.81% 14.57%
Inventory $148.1M $162.1M $151.0M
Prepaid Expenses
Receivables $129.3M $123.3M $130.6M
Other Receivables $600.0K $4.900M $3.400M
Total Short-Term Assets $381.2M $385.4M $363.9M
YoY Change 2.42% 5.9% 5.58%
LONG-TERM ASSETS
Property, Plant & Equipment $133.4M $135.8M $138.5M
YoY Change -4.0% -1.93% -0.91%
Goodwill $256.2M $256.2M $248.5M
YoY Change 3.14% 3.1% -3.24%
Intangibles $316.4M $319.2M $322.7M
YoY Change -0.94% -1.09% 67.44%
Long-Term Investments
YoY Change
Other Assets $10.90M $12.90M $10.30M
YoY Change -5.22% 25.24% -93.35%
Total Long-Term Assets $717.0M $724.1M $720.0M
YoY Change -0.19% 0.57% -3.24%
TOTAL ASSETS
Total Short-Term Assets $381.2M $385.4M $363.9M
Total Long-Term Assets $717.0M $724.1M $720.0M
Total Assets $1.098B $1.110B $1.084B
YoY Change 0.7% 2.36% -0.45%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $23.75M $31.06M $27.24M
YoY Change -13.47% 14.03% -14.72%
Accrued Expenses $36.40M $30.70M $26.10M
YoY Change 8.98% 17.62% -3.69%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $1.234M $1.187M $1.093M
YoY Change 8.25% 8.6% 8.33%
Total Short-Term Liabilities $116.0M $121.8M $100.9M
YoY Change 4.22% 20.69% -19.65%
LONG-TERM LIABILITIES
Long-Term Debt $240.2M $246.8M $224.0M
YoY Change 12.02% 10.18% 33.0%
Other Long-Term Liabilities $48.52M $32.69M $59.61M
YoY Change 7.12% -45.16% -30.72%
Total Long-Term Liabilities $288.7M $279.5M $283.6M
YoY Change 11.16% -1.45% 11.45%
TOTAL LIABILITIES
Total Short-Term Liabilities $116.0M $121.8M $100.9M
Total Long-Term Liabilities $288.7M $279.5M $283.6M
Total Liabilities $516.9M $516.8M $491.7M
YoY Change 6.76% 5.11% 1.1%
SHAREHOLDERS EQUITY
Retained Earnings $406.1M $400.3M $391.2M
YoY Change 2.59% 2.34% 5.36%
Common Stock $313.0K $313.0K $313.0K
YoY Change 0.0% 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $105.1M $106.1M $96.71M
YoY Change 6.42% 9.69% 49.02%
Treasury Stock Shares
Shareholders Equity $581.3M $592.7M $592.2M
YoY Change
Total Liabilities & Shareholders Equity $1.098B $1.110B $1.084B
YoY Change 0.7% 2.36% -0.45%

Cashflow Statement

Concept 2014 Q4 2014 Q3 2013 Q3
OPERATING ACTIVITIES
Net Income $11.34M $1.972M $5.687M
YoY Change 10.87% -65.32% -38.98%
Depreciation, Depletion And Amortization $11.70M $11.70M $11.70M
YoY Change -5.65% 0.0% 0.0%
Cash From Operating Activities $25.70M $14.60M $30.40M
YoY Change -5.86% -51.97% 8.57%
INVESTING ACTIVITIES
Capital Expenditures -$3.100M -$3.700M -$5.400M
YoY Change -35.42% -31.48% 22.73%
Acquisitions
YoY Change
Other Investing Activities -$4.100M -$1.200M $0.00
YoY Change -100.0%
Cash From Investing Activities -$7.200M -$4.900M -$5.400M
YoY Change 50.0% -9.26% -76.62%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -13.80M -1.300M -14.60M
YoY Change -21.14% -91.1% 2333.33%
NET CHANGE
Cash From Operating Activities 25.70M 14.60M 30.40M
Cash From Investing Activities -7.200M -4.900M -5.400M
Cash From Financing Activities -13.80M -1.300M -14.60M
Net Change In Cash 4.700M 8.400M 10.40M
YoY Change -6.0% -19.23% 141.86%
FREE CASH FLOW
Cash From Operating Activities $25.70M $14.60M $30.40M
Capital Expenditures -$3.100M -$3.700M -$5.400M
Free Cash Flow $28.80M $18.30M $35.80M
YoY Change -10.28% -48.88% 10.49%

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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 and gastroenterology.</font></div></div>
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dei Entity Filer Category
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dei Entity Registrant Name
EntityRegistrantName
CONMED CORP

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