CONMED Corporation (Nasdaq:CNMD) today announced financial results for the fourth quarter and fiscal year ended December 31, 2015.
Fourth Quarter 2015 Highlights
Sales were $191.0 million, a decrease of 2.0% compared to the fourth quarter of 2014. On a constant currency basis, sales increased 0.5% over the prior-year period.
Gross margin expanded 30 basis points year over year to 53.6%. Adjusted gross margin expanded 80 basis points year over year to 55.1%.
Diluted earnings per share (GAAP) were $0.28, compared to $0.41 in the fourth quarter of 2014. Adjusted diluted earnings per share were $0.52 versus $0.53 in the prior-year period.
Signed definitive agreement to acquire SurgiQuest, Inc., which significantly bolsters CONMED’s Advanced Surgical portfolio. The transaction closed on January 4, 2016.
Fiscal Year 2015 Highlights
Sales were $719.2 million, a decrease of 2.8% compared to the full-year 2014.