First Quarter 2023 Highlights<\/b><\/p>\n \n\u201cI am proud of our team for driving excellent first quarter results and staying focused on serving our customers,\u201d commented Curt R. Hartman, CONMED\u2019s Chair of the Board, President, and Chief Executive Officer. \u201cOur strong first quarter provides a very solid start to the year, and the team is focused on execution and delivering on our increased outlook.\u201d<\/p>\n 2023 Outlook<\/b><\/p>\n \nBased on the first quarter results, the Company is raising its revenue guidance for the full year 2023 and now expects revenue between $1.205 billion and $1.250 billion, compared to its prior guidance of between $1.170 billion and $1.220 billion. This range continues to include an expected headwind from foreign exchange of between 150 and 200 basis points.<\/p>\n \nThe Company now expects full-year 2023 adjusted diluted net earnings per share(2)<\/sup> in the range of $3.30 to $3.50, compared to its prior range of $3.20 to $3.45. This range continues to include an expected headwind from foreign exchange of between $0.20 and $0.25.<\/p>\n Supplemental Financial Disclosures<\/b><\/p>\n (1)<\/sup> A reconciliation of reported diluted net earnings per share to adjusted diluted net earnings per share, a non-GAAP financial measure, appears below.<\/p>\n (2)<\/sup> Information reconciling forward-looking adjusted diluted net earnings per share to the comparable GAAP financial measures is unavailable to the company without unreasonable effort, as discussed below.<\/p>\n Conference Call<\/b><\/p>\n \nThe Company\u2019s management will host a conference call today at 4:30 p.m. ET to discuss its first quarter 2023 results.<\/p>\n \nTo participate in the conference call via telephone, please click here<\/a> to pre-register and obtain the dial-in number and passcode.<\/p>\n \nThis conference call will also be webcast and can be accessed from the \u201cInvestors\u201d section of CONMED’s website at www.conmed.com<\/a>. The webcast replay of the call will be available at the same site approximately one hour after the end of the call.<\/p>\n Consolidated Condensed Statements of Income<\/b><\/p>\n<\/td>\n<\/tr>\n \n(in thousands except per share amounts, unaudited)<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n Three Months Ended<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n March 31,<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n 2023<\/b><\/p>\n<\/td>\n 2022<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nNet sales<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n295,468<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n242,327<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nCost of sales<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n140,147<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n106,336<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nGross profit<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n155,321<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n135,991<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n% of sales<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n52.6<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n56.1<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n \nSelling & administrative expense<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n130,083<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n102,875<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nResearch & development expense<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n12,539<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n10,672<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nIncome from operations<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n12,699<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n22,444<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n% of sales<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n4.3<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n9.3<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n \nInterest expense<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n10,255<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n4,998<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nIncome before income taxes<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,444<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n17,446<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nProvision for income taxes<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n625<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,471<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nNet income<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n1,819<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n14,975<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nBasic EPS<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n0.06<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n0.51<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nDiluted EPS<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n0.06<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n0.47<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nBasic shares<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n30,511<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n29,428<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nDiluted shares<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n31,204<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n35,155<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n Sales Summary<\/b><\/p>\n<\/td>\n<\/tr>\n \n(in millions, unaudited)<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n Three Months Ended March 31,<\/b><\/p>\n<\/td>\n<\/tr>\n % Change<\/b><\/p>\n<\/td>\n<\/tr>\n Domestic<\/b><\/p>\n<\/td>\n International<\/b><\/p>\n<\/td>\n<\/tr>\n 2023<\/b><\/p>\n<\/td>\n 2022<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n As<\/b><\/p>\n Reported<\/b><\/p>\n<\/td>\n Impact<\/b><\/p>\n of<\/b><\/p>\n Foreign<\/b><\/p>\n Currency<\/b><\/p>\n<\/td>\n Constant<\/b><\/p>\n Currency<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n As<\/b><\/p>\n Reported<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n As<\/b><\/p>\n Reported<\/b><\/p>\n<\/td>\n Impact<\/b><\/p>\n of<\/b><\/p>\n Foreign<\/b><\/p>\n Currency<\/b><\/p>\n<\/td>\n Constant<\/b><\/p>\n Currency<\/b><\/p>\n<\/td>\n<\/tr>\n \nOrthopedic Surgery<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n131.2<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n107.5<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n22.0<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n4.0<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n26.0<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n29.0<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n18.2<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n6.1<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n24.3<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n \nGeneral Surgery<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n164.3<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n134.8<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n21.9<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n2.5<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n24.4<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n24.0<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n17.1<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n8.4<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n25.5<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n295.5<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n242.3<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n21.9<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n3.2<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n25.1<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n25.4<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n17.8<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n6.9<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n24.7<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n \nSingle-use Products<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n249.3<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n201.5<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n23.7<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n3.2<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n26.9<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n28.9<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n17.3<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n7.1<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n24.4<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n \nCapital Products<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n46.2<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n40.8<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n13.0<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n3.3<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n16.3<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n5.5<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n19.8<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n6.2<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n26.0<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n295.5<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n242.3<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n21.9<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n3.2<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n25.1<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n25.4<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n17.8<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n6.9<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n24.7<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n \nDomestic<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n164.6<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n131.2<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n25.4<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n0.0<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n25.4<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \nInternational<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n130.9<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n111.1<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n17.8<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n6.9<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n24.7<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n295.5<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n242.3<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n21.9<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n3.2<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n25.1<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n Reconciliation of Reported Net Income to Adjusted Net Income<\/b><\/p>\n<\/td>\n<\/tr>\n \n(in thousands, except per share amounts, unaudited)<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n Three Months Ended March 31, 2023<\/b><\/p>\n<\/td>\n<\/tr>\n Gross<\/b><\/p>\n Profit<\/b><\/p>\n<\/td>\n Selling &<\/b><\/p>\n Administrative<\/b><\/p>\n Expense<\/b><\/p>\n<\/td>\n Operating<\/b><\/p>\n Income<\/b><\/p>\n<\/td>\n Interest<\/b><\/p>\n Expense<\/b><\/p>\n<\/td>\n Tax<\/b><\/p>\n Expense<\/b><\/p>\n<\/td>\n Effective<\/b><\/p>\n Tax Rate<\/b><\/p>\n<\/td>\n Net<\/b><\/p>\n Income<\/b><\/p>\n<\/td>\n Basic<\/b><\/p>\n EPS<\/b><\/p>\n<\/td>\n Adjustments<\/b><\/p>\n<\/td>\n Diluted<\/b><\/p>\n EPS<\/b><\/p>\n<\/td>\n<\/tr>\n As reported<\/b><\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n155,321<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n130,083<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n12,699<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n10,255<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n625<\/p>\n<\/td>\n \n25.6<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n1,819<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n–<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n1,819<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n% of sales<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n52.6<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n44.0<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n4.3<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \nEPS<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n0.06<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n0.06<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nShares<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n30,511<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n693<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n31,204<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nAcquisition and integration costs(1)<\/sup><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,096<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(448<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,544<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n–<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n654<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,890<\/p>\n<\/td>\n \nRestructuring and related costs(2)<\/sup><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,035<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(1,578<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n3,613<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n–<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n930<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,683<\/p>\n<\/td>\n \nSoftware implementation costs(3)<\/sup><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n–<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(4,259<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n4,259<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n–<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,096<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n3,163<\/p>\n<\/td>\n \nContingent consideration fair value adjustments(4)<\/sup><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n–<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(4,436<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n4,436<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n–<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,141<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n3,295<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n159,452<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n119,362<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n27,551<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n10,255<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n4,446<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n12,850<\/p>\n<\/td>\n \nAdjusted gross profit %<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n54.0<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \nAmortization(5)<\/sup><\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n1,500<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(7,265<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n8,765<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(1,506<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,530<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n7,741<\/p>\n<\/td>\n As adjusted<\/b><\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n112,097<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n36,316<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n8,749<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n6,976<\/p>\n<\/td>\n \n25.3<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n20,591<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n–<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n20,591<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n% of sales<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n37.9<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n12.3<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \nAdjusted diluted EPS<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n0.66<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nShares<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n30,511<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n693<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n31,204<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nConvertible note hedges(6)<\/sup><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(64<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nAdjusted diluted shares<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n31,140<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n Three Months Ended March 31, 2022<\/b><\/p>\n<\/td>\n<\/tr>\n Gross Profit<\/b><\/p>\n<\/td>\n Selling & Administrative Expense<\/b><\/p>\n<\/td>\n Operating Income<\/b><\/p>\n<\/td>\n Interest Tax Effective Tax Rate<\/b><\/p>\n<\/td>\n Net Income<\/b><\/p>\n<\/td>\n Basic EPS<\/b><\/p>\n<\/td>\n Adjustments(7)<\/sup><\/b><\/p>\n<\/td>\n Diluted EPS<\/b><\/p>\n<\/td>\n<\/tr>\n As reported<\/b><\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n135,991<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n102,875<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n22,444<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n4,998<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n2,471<\/p>\n<\/td>\n \n14.2<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n14,975<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n1,715<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n16,690<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n% of sales<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n56.1<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n42.5<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n9.3<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \nEPS<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n0.51<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n0.47<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nShares<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n29,428<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n5,727<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n35,155<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n135,991<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n102,875<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n22,444<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n4,998<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n2,471<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n14,975<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nAdjusted gross profit %<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n56.1<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nAmortization(5)<\/sup><\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n1,500<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(6,562<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n8,062<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(880<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,160<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n6,782<\/p>\n<\/td>\n As adjusted<\/b><\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n96,313<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n30,506<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n4,118<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n4,631<\/p>\n<\/td>\n \n17.5<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n21,757<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n1,715<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n23,472<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n% of sales<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n39.7<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n12.6<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \nAdjusted diluted EPS<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n0 .70<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nShares<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n29,428<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n5,727<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n35,155<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nConvertible note hedges(6)<\/sup><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(1,412<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nAdjusted diluted shares<\/p>\n<\/td>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n<\/td>\n \n33,743<\/p>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n\n
\n
\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n
\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n<\/table>\n \n
\n \n \n \n \n <\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n
\n
Expense<\/b><\/p>\n<\/td>\n\n
\n
Expense<\/b><\/p>\n<\/td>\n\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n
![\"Logo\"](\"https:\/\/mms.businesswire.com\/media\/20230426005748\/en\/836424\/3\/ConMed_LogoPMS3005_RGB.jpg\")
<\/td>\n<\/tr>\n