ConMed Corp. (NASDAQ: CNMD) reported net income of $6.3 million, in the first quarter, down nearly 27 percent from $8.6 million, in the year-ago period.
The Utica–based surgical-device maker’s reported net earnings included restructuring costs in both 2015 and 2014, along with charges for dealing with a patent dispute, activist shareholders, and New York state corporate-tax reform in 2014, the company said in its earnings release.
Excluding the impact of those items, ConMed’s adjusted net earnings of $11.8 million was down 13 percent and adjusted net earnings per share of 42 cents was off 14 percent from the year-prior period, ConMed said.
ConMed released its first-quarter financial report after the markets closed on Wednesday. Shares of the medical-device maker jumped $4.60, or 9.3 percent, to $53.95 in Thursday’s trading, as of 2:15 p.m., according to
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Telecom Plus Q1 Profits Down To £52 Million GBP
by Nicole Dunkley • • 0 Comments
British utility company Telecom Plus said it would write down about 11 million pounds of unrecoverable bills at its gas unit and that it expected its full-year pretax profit to be “significantly below market expectations”.
Shares in the company fell as much as 26 percent to their lowest in about three years, making the stock the biggest loser on the FTSE-250 Midcap Index.
Telecom Plus said it expects an adjusted pretax profit of 52 million pounds to 53 million pounds ($77 million-$79 million) for the year ended March 31, after taking into account an about 6 million pound impact from higher-than-anticipated leakage and theft of gas.
“Excluding this impact, the outcome will be below the level we were expecting to achieve,” the company said in a statement.
The provider of landline, broadband, mobile, gas and electricity