UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
Form 11-K
ý Annual Report Pursuant To Section 15(d) Of
The Securities Exchange Act of 1934
For the fiscal year ended December 31, 2005
OR
o Transition Report Pursuant To Section 15(d) Of
The Securities Exchange Act of 1934
For the transition period from ________ to _________
Commission File Number 0-16093
(A) Full title of the plan and the address
of the plan, if different from that of
the issuer named below:
CONMED CORPORATION
Retirement Savings Plan
(B) Name of issuer of the securities held
pursuant to the plan and the address
of its principal executive office:
CONMED CORPORATION
525 French Road
Utica, New York 13502
CONMED Corporation
Retirement Savings Plan
December 31, 2005 and 2004
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| Financial Statements: | |
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| 3 |
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| 4-7 |
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| Supplemental Schedule: * | |
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| 8-20 |
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| 21 |
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| * | All other schedules required by 29 CFR 2520.103-10 of the Department of Labor’s Rules and Regulations for Reporting and Disclosure under ERISA have been omitted because they are not applicable. |
To the Participants and Administrator of
CONMED Corporation Retirement Savings Plan
We have audited the Statements of Net Assets Available for Benefits of CONMED Corporation Retirement Savings Plan as of December 31, 2005 and 2004, and the related Statements of Changes in Net Assets Available for Benefits for the years then ended. These financial statements are the responsibility of the Plan’s management. Our responsibility is to express an opinion on these financial statements based on our audits.
We conducted our audits in accordance with the auditing standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly, in all material respects, the net assets available for benefits of the CONMED Corporation Retirement Savings Plan as of December 31, 2005 and 2004, and the changes in net assets available for benefits for the years then ended, in conformity with U.S. generally accepted accounting principles.
Our audits were conducted for the purpose of forming an opinion on the basic financial statements taken as a whole. The supplemental schedule of assets (held at end of year) as of December 31, 2005, is presented for the purpose of additional analysis and is not a required part of the basic financial statements, but is supplementary information required by the United States Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. The supplemental schedule is the responsibility of the Plan’s management. The supplemental schedule has been subjected to the auditing procedures applied in the audits of the basic financial statements and, in our opinion, is fairly stated in all material respects in relation to the basic financial statements taken as a whole.
Respectfully Submitted,
| /s/ | Insero & Company CPAs,P.C. |
| | Certified Public Accountants |
| | |
| | Rochester, New York |
| | May 5, 2006 |
CONMED Corporation
Retirement Savings Plan
Statements of Net Assets Available for Benefits
December 31, 2005 and 2004
Assets | | 2005 | | 2004 | |
| Investments | | | | | | | |
Mutual Funds | | $ | 53,116,832 | | $ | 49,746,506 | |
Common Collective Trust | | | 9,877,519 | | | 11,902,863 | |
Common Stock | | | 4,973,577 | | | 6,239,092 | |
Corporate Bonds | | | 108,168 | | | 60,337 | |
Money Market Funds | | | 4,969,201 | | | 5,444,329 | |
Participant Loans | | | 2,212,996 | | | 1,952,617 | |
Non-interest bearing cash | | | 8,859 | | | 0 | |
| | | | | | | | |
Total Investments | | | 75,267,152 | | | 75,345,744 | |
| | | | | | | | |
| Receivables | | | | | | | |
Employee Contributions | | | 38,521 | | | 189,093 | |
Employer Contributions | | | 13,328 | | | 66,825 | |
Accrued Income | | | 868 | | | 509 | |
| | | | | | | | |
Total Receivables | | | 52,717 | | | 256,427 | |
| | | | | | | | |
| | | | | | | | |
Net Assets Available for Benefits | | $ | 75,319,869 | | $ | 75,602,171 | |
CONMED Corporation
Statements of Net Assets Available for Benefits
December 31, 2005 and 2004
| | | 2005 | | 2004 | |
| Additions to net assets attributed to: | | | | | | | |
Investment income: | | | | | | | |
Interest and dividends | | $ | 2,688,845 | | $ | 2,231,971 | |
Net appreciation in fair | | | | | | | |
value of investments | | | 525,461 | | | 4,310,091 | |
Contributions: | | | | | | | |
Participants | | | 7,563,932 | | | 7,025,367 | |
Employer | | | 2,028,051 | | | 1,913,803 | |
| | | | | | | | |
Total Additions | | | 12,806,289 | | | 15,481,232 | |
| | | | | | | | |
| Deductions from net assets attributed to: | | | | | | | |
Administrative expenses | | | 50,117 | | | 38,804 | |
Distributions to participants | | | 13,038,474 | | | 6,301,511 | |
| | | | | | | | |
Total Deductions | | | 13,088,591 | | | 6,340,315 | |
| | | | | | | | |
Net Increase(Decrease) | | | (282,302 | ) | | 9,140,917 | |
| | | | | | | | |
| Net assets at beginning of year | | | 75,602,171 | | | 66,461,254 | |
| | | | | | | | |
Net Assets at End of Year | | $ | 75,319,869 | | $ | 75,602,171 | |
| | | | | | | | |
CONMED Corporation
Statements of Changes in Net Assets Available for Benefits
Years Ended December 31, 2005 and 2004
1. | Establishment and Description of Plan |
Effective January 1992, CONMED Corporation (the "Company") established the CONMED Corporation Retirement Savings Plan (the "Plan"). The Plan is a defined contribution plan covering all full-time employees of the Company and its subsidiaries who meet the service requirements set forth in the Plan document. The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974 ("ERISA"). The following brief description of the Plan is provided for general information purposes only. Participants should refer to the Plan agreement for more complete information.
Administration of the Plan
The Company serves as Plan Administrator with full power, authority and responsibility to control and manage the operation and administration of the Plan.
Contributions
A participant can contribute 1 to 50 percent of his or her annual compensation, as defined, up to the maximum annual limitations as provided by the Internal Revenue Code (“IRC”). The Company matches 50 percent of each participant's contribution up to a maximum of 6 percent of participant compensation. Forfeitures of terminated participants’ non-vested accounts are used to reduce employer contributions. Forfeitures reduced employer contributions by approximately $140,000 and $106,000 in 2005 and 2004, respectively.
Participant Accounts
Each participant's account is credited with the participant's contribution and allocation of (a) the Company's contribution, (b) Plan earnings and (c) administrative expenses. Allocations are based on participant earnings or account balances, as defined. The benefit to which a participant is entitled is the benefit that can be provided from the participant's vested account.
Vesting
Each participant is immediately vested in his or her voluntary contributions plus earnings thereon. A participant becomes fully vested in the remainder of his or her account upon the completion of five years of service.
Investment Options
Participants are allowed to invest in a variety of investment choices as more fully described in the Plan literature. Participants may change their investment options on a daily basis.
Loans
A participant may obtain a loan between $500 and $50,000, limited to 50 percent of his or her vested account balance. Each loan bears interest at prime plus 1 percent and is secured by the balance in the participant's account. Repayment is required over a period not to exceed five years or up to fifteen years where the loan is for the purchase of a primary residence. Loan repayments are allocated among the investment options consistent with the participant's contribution investment election.
Payment of Benefits
Participants or their beneficiaries are eligible to receive benefits under the Plan upon normal retirement, death, total and permanent disability or
CONMED Corporation
Notes to Financial Statements
December 31, 2005 and 2004
termination for any reason other than those previously mentioned. Benefits are payable in accordance with the Plan agreement.
Plan Termination
While the Company anticipates and believes that the Plan will continue, it reserves the right to discontinue the Plan subject to the provisions of ERISA. In the event of Plan termination, participants will become 100 percent vested in their accounts.
2. | Significant Accounting Policies |
Basis of Accounting
The accounts of the Plan are maintained on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America.
Investment Valuation and Income Recognition
Investments in common stock, debt securities and mutual funds are valued based upon quoted market prices in active markets. Investments in common collective trust funds are valued at the net asset value of securities held by the trust as determined by the investment manager. Cash, money market funds and participant loans are carried at cost which approximates market value.
The Plan presents in the Statement of Changes in Net Assets Available for Benefits the net appreciation or depreciation in the fair value of its investments which consists of the realized gains and losses and the unrealized appreciation or depreciation on those investments. Purchases and sales of securities are recorded on the trade-date basis. Interest income is recorded on the accrual basis and dividends are recorded as of the ex-dividend date.
Contributions
Participant contributions and matching employer contributions are recorded in the period during which the Company makes payroll deductions from the participants’ earnings.
Administrative Expenses
The Plan’s administrative expenses are paid by either the Plan or the Plan’s Sponsor as defined in the Plan document.
CONMED Corporation
Retirement Savings Plan
Notes to Financial Statements
December 31, 2005 and 2004
2. | Significant Accounting Policies (Continued) |
Payment of Benefits
Benefit payments to participants are recorded upon distribution.
Use of Estimates
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of net assets available for plan benefits and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of additions to and deductions from net assets during the reporting period. Actual results could differ from those estimates.
Risks and Uncertainties
The Plan provides for various investment options. Investments are exposed to various risks, such as interest rate, market and credit. Due to the level of risk associated with certain investments and the level of uncertainty related to changes in the value of investments, it is at least reasonably possible that changes in risks in the near term would materially affect participants’ account balances and the amounts reported in the statement of net assets available for benefits and the statement of changes in net assets available for benefits.
The trust established under the Plan to hold the Plan’s assets is qualified pursuant to the appropriate section of the Internal Revenue Code, and, accordingly, the trust’s net investment income is exempt from income taxes. The Plan has obtained a favorable tax determination letter, dated July 21, 2003, from the Internal Revenue Service. The Plan has been amended since receiving the determination letter. However, the Plan administrator and the Plan’s tax counsel believe that the Plan, as amended, is designed and is currently being operated in compliance with the applicable requirements of the IRC.
Fidelity Management Trust Company (“Fidelity”) is the trustee of the Plan. As trustee, Fidelity holds the Plan’s investment assets and executes investment transactions.
Investments representing 5 percent or more of the net assets available for plan benefits at December 31, 2005 and 2004 consist of the following:
CONMED Corporation
Retirement Savings Plan
Notes to Financial Statements
December 31, 2005 and 2004
4. | Investments (Continued) |
| | | | 2005 | | 2004 | |
| | | | Current | | Current | |
| | | | Value | | Value | |
| | | | | | | |
| | CONMED Corp. Common Stock | | $ | N/A* | | $ | 4,053,062 | |
| | Fidelity Equity Income Fund | | | 7,397,158 | | | 7,553,676 | |
| | Fidelity Aggressive Growth Fund | | | 7,495,095 | | | 7,954,778 | |
| | Fidelity Retirement Money | | | | | | | |
| | Market Fund | | | 3,814,378 | | | 3,902,766 | |
| | Fidelity Managed Income | | | | | | | |
| | Portfolio Fund | | | 9,877,519 | | | 11,902,863 | |
| | Spartan U.S. Equity Index Fund | | | 7,104,350 | | | 7,193,900 | |
| | Fidelity Investment Grade | | | | | | | |
| | Bond Fund | | | 3,878,747 | | | 4,378,851 | |
| | Fidelity Puritan Fund | | | 7,384,699 | | | 6,119,546 | |
| | Fidelity Low-Priced Stock Fund | | | 6,486,658 | | | 6,596,979 | |
*CONMED Corp. Common Stock did not exceed 5% of the net assets available for plan benefits at December 31, 2005.
Net appreciation in the fair value of investments for the years ended December 31, 2005 and 2004 was as follows:
| | | 2005 | | 2004 | |
| Mutual funds | | $ | 1,289,218 | | $ | 3,698,287 | |
| Common stocks | | | (763,757 | ) | | 611,804 | |
| | | $ | 525,461 | | $ | 4,310,091 | |
5. | Transactions with Parties-in-Interest |
As of December 31, 2005 and 2004, the Plan held certain securities issued by the Company as follows:
| | | December 31, 2005 | | December 31, 2004 | |
| | | Number | | Fair | | Number | | Fair | |
| | | of Shares | | Value | | of Shares | | Value | |
| | | | | | | | | | |
| CONMED Corp. | | | | | | | | | | | | | |
| Common Stock | | | 139,697 | | $ | 3,304,531 | | | 142,613 | | $ | 4,053,062 | |
In addition, certain assets of the Plan are invested in funds managed by Fidelity. Fidelity is the trustee of the Plan and, therefore, is considered to be a party-in-interest.
Retirement Savings Plan
Schedule H, line 4i - Schedule of Assets (Held at End of Year)
December 31, 2005
| | | | | Fair | |
Identity of Issue/Description of Investment | | Units | | Value | |
| | | | | | |
| | | | | | |
FAM Value Fund** | | | 66,573 | | $ | 3,195,507 | |
Fidelity Puritan Fund** | | | 394,271 | | | 7,384,699 | |
Fidelity Equity Income Fund** | | | 140,151 | | | 7,397,158 | |
Fidelity Investment Grade Bond Fund** | | | 526,289 | | | 3,878,747 | |
Fidelity Low-Priced Stock Fund** | | | 158,831 | | | 6,486,658 | |
Fidelity Aggressive Growth Fund** | | | 421,073 | | | 7,495,095 | |
Fidelity Capital Appreciation Fund** | | | 25,619 | | | 643,035 | |
Fidelity Diversified International Fund** | | | 109,241 | | | 3,554,690 | |
Legg Mason Value Trust Fund | | | 4,892 | | | 364,317 | |
Spartan U.S. Equity Index Fund** | | | 160,877 | | | 7,104,350 | |
Fidelity Managed Income Portfolio Fund** | | | 9,877,519 | | | 9,877,519 | |
CONMED Corporation Common Stock ** | | | 139,697 | | | 3,304,531 | |
Held in Brokerage Link Account * | | | * | | | 3,319,919 | |
Fidelity Retirement Money Market Fund** | | | 3,814,378 | | | 3,814,378 | |
Fidelity Freedom Funds** | | | 146,687 | | | 1,936,939 | |
Needham Growth Fund | | | 34,512 | | | 1,231,716 | |
Interest Bearing Cash Accounts | | | 253,578 | | | 253,578 | |
Rainier Small/Mid Cap Fund | | | 36,148 | | | 1,198,307 | |
WFA Small Cap Value Z Fund | | | 20,025 | | | 604,154 | |
Participant loans, interest rates from 5.25% to | | | | | | | |
10.50% and maturities from 2006 to 2020 | | | | | | 2,212,996 | |
| | | | | | $ | 75,258,293 | |
* See pages 9-20 for detail of assets held in the brokerage link account.
** Denotes party-in-interest
CONMED Corporation Retirement Savings Plan Schedule of Assets (Held at End of Year) Brokerage Link Account December 31, 2005 |
Security Description | | Shares | | Fair Value |
| AT&T INC COM | | | 65 | | | | 1,595 | |
| ACCLAIM ENTMT INC COM | | | 201 | | | | 1 | |
| ADVANCED MICRO DEVICES INC | | | 500 | | | | 15,300 | |
| ADVANCED VIRAL RESH CORP | | | 9,900 | | | | 693 | |
| AFRICAN PLATINUM PLC SHS | | | 3,250 | | | | 1,242 | |
| AGERE SYS INC COM | | | 4 | | | | 52 | |
| AKAMAI TECH NFS LLC | | | 1,000 | | | | 19,930 | |
| ALPINE US REAL ESTATE EQUITY | | | 122 | | | | 5,004 | |
| ALTRIA GROUP INC NFS LLC | | | 40 | | | | 2,989 | |
| ALVARION LTD | | | 250 | | | | 2,180 | |
| AMERICAN CAPITAL STRATEGIES | | | 148 | | | | 5,364 | |
| AMER CENTURY TARGET MATURITIES | | | 502 | | | | 26,164 | |
| AMERN HEALTHWAYS INC | | | 350 | | | | 15,838 | |
| AMGEN INC NFS LLC | | | 100 | | | | 7,886 | |
| AMYLIN PHARM INC | | | 100 | | | | 3,992 | |
| APOLLO GOLD CORP | | | 3,000 | | | | 720 | |
| APPLIED MATERIALS INC | | | 20 | | | | 359 | |
CONMED Corporation Retirement Savings Plan Schedule of Assets (Held at End of Year) Brokerage Link Account December 31, 2005 |
Security Description | | Shares | | Fair Value |
| ARIAD PHARMACEUTICAL INC | | | 1,000 | | | | 5,850 | |
| AT HOME CORP SER A | | | 41 | | | | 0 | |
| ATMEL CORP NFS LLC | | | 200 | | | | 618 | |
| AU OPTRONICS CORP | | | 327 | | | | 4,908 | |
| AVAYA INC NFS LLC | | | 16 | | | | 171 | |
| BAXTER INTL INC | | | 50 | | | | 1,883 | |
| BECKMAN COULTER INC | | | 200 | | | | 11,380 | |
| BEMA GOLD CORP | | | 1,300 | | | | 3,783 | |
| BERKSHIRE HATHAWAY INC DEL CL B | | | 3 | | | | 8,807 | |
| BEST BUY INC | | | 50 | | | | 2,174 | |
| BEYOND CORP COM NEW | | | 86 | | | | 0 | |
| BIG SCREEN ENTMT GROUP INC | | | 10 | | | | 1 | |
| BIOGEN IDEC INC | | | 200 | | | | 9,056 | |
| BIOMIRA INC | | | 100 | | | | 140 | |
| BLUEFLY INC | | | 300 | | | | 336 | |
| BOSTON SCIENTIFIC | | | 150 | | | | 3,674 | |
| BRISTOL MYERS SQUIBB NFS LLC | | | 11,523 | | | | 264,799 | |
| BROADCOM CORP CL A | | | 100 | | | | 4,715 | |
| BROADVISION INC COM NEW NFS LLC | | | 116 | | | | 57 | |
| BUCKS CNTY BK 4.15% 9/12/07 | | | 20,000 | | | | 19,736 | |
| BUILDING MATERIAL HOLDING CORP | | | 300 | | | | 20,463 | |
| CMGI INC FRMLY CMG | | | 10,200 | | | | 15,392 | |
| |
CONMED Corporation
Retirement Savings Plan
Schedule of Assets (Held at End of Year)
Brokerage Link Account
December 31, 2005
Security Description | | Shares | | Fair Value |
| CALPINE CORP NFS LLC | | | 10,000 | | | | 2,080 | |
| CARDINAL HEALTH INC | | | 35 | | | | 2,406 | |
| CATALINA MKTG CORP | | | 150 | | | | 3,803 | |
| CATHAY BANCORP INC | | | 180 | | | | 6,469 | |
| CEPHEID | | | 85 | | | | 746 | |
| CHESAPEAKE ENERGY CORP | | | 300 | | | | 9,519 | |
| CHILMARK ENTMT GROUP INC | | | 2,000 | | | | 6 | |
| CISCO SYS INC NFS LLC | | | 1,562 | | | | 26,741 | |
| CITIGROUP INC | | | 133 | | | | 6,454 | |
| CITIGROUP INC GLBL SR NT | | | 10,000 | | | | 9,736 | |
| COEUR D ALENE MINES CORP | | | 3,700 | | | | 14,800 | |
| COHEN & STEERS INTL REALTY INC | | | 3,186 | | | | 42,309 | |
| COMCAST CORP NEW CL A | | | 17 | | | | 441 | |
| COMMERCE ONE INC DEL COM NEW | | | 2,218 | | | | 0 | |
| CORNING INC | | | 575 | | | | 11,305 | |
| CUSAC GOLD LTD FRMLY CUSAC GOLD | | | 15,000 | | | | 1,920 | |
| CYPRESS SEMICONDUCTOR CORP | | | 175 | | | | 2,494 | |
| DEEP WELL OIL & GAS INC | | | 4,000 | | | | 5,200 | |
| DELL INC | | | 260 | | | | 7,787 | |
| DEUTCHE TELEKOM A G SPON ADR | | | 600 | | | | 9,978 | |
| DEVON ENERGY CORP NEW | | | 50 | | | | 3,127 | |
| DIGITAL LIGHTWAVE INC | | | 1,385 | | | | 291 | |
| |
CONMED Corporation
Retirement Savings Plan
Schedule of Assets (Held at End of Year)
Brokerage Link Account
December 31, 2005
Security Description | | Shares | | Fair Value |
| DIODES INC | | | 450 | | | | 13,973 | |
| DOVER DOWNS GAMING * ENTMT INC | | | 70 | | | | 991 | |
| DOVER MOTORSPORTS INC | | | 100 | | | | 611 | |
| DRDGOLD LTD SPON ADR | | | 9,500 | | | | 13,680 | |
| DREAMWORKS ANIMATION SKG INC | | | 900 | | | | 22,104 | |
| DREYFUS EMERGING LEADERS FUND | | | 738 | | | | 30,555 | |
| DREYFUS EMERGING MARKETS | | | 481 | | | | 10,397 | |
| EAGLE BROADBAND INC | | | 400 | | | | 36 | |
| EBAY INC | | | 300 | | | | 12,966 | |
| ECOLLEGE.COM | | | 1,000 | | | | 18,030 | |
| EDEN ENERGY CORP | | | 1,000 | | | | 2,050 | |
| EDULINK INC | | | 30,000 | | | | 0 | |
| EL PASO CORP | | | 1,000 | | | | 12,160 | |
| EMERSON OIL & GAS INC | | | 20,000 | | | | 280 | |
| ENERGY PARTNERS LTD COM | | | 250 | | | | 5,448 | |
| ENGLOBAL CORP COM | | | 175 | | | | 1,470 | |
| ENRON CORP | | | 2,000 | | | | 0 | |
| ETOYS INC | | | 200 | | | | 0 | |
| EVERGREEN SOLAR INC | | | 400 | | | | 4,260 | |
| EXODUS COMMUNICATIONS INC | | | 400 | | | | 0 | |
| EXPEDIA INC DEL COM | | | 31 | | | | 743 | |
| FALCON NAT GAS CORP | | | 3,000 | | | | 780 | |
| FAIRHOLME FUND | | | 1,114 | | | | 28,074 | |
| |
CONMED Corporation
Retirement Savings Plan
Schedule of Assets (Held at End of Year)
Brokerage Link Account
December 31, 2005
Security Description | | Shares | | Fair Value |
| FIDELITY INTERNTL GROWTH & INCOME | | | 108 | | | | 3,430 | |
| FIDELITY CONVERTIBLE SECURITIES | | | 279 | | | | 6,275 | |
| FIDELITY FREEDOM 2010 | | | 1,095 | | | | 15,391 | |
| FIDELITY FREEDOM 2020 | | | 518 | | | | 7,620 | |
| FIDELITY GROWTH COMPANY | | | 99 | | | | 6,293 | |
| FIDELITY AGGRESSIVE GROWTH | | | 349 | | | | 6,220 | |
| FIDELITY BLUE CHIP GROWTH | | | 82 | | | | 3,551 | |
| FIDELITY DIVIDEND GROWTH | | | 1,531 | | | | 44,083 | |
| FIDELITY SELECT ENERGY | | | 104 | | | | 4,864 | |
| FIDELITY SELECT TECHNOLOGY | | | 300 | | | | 18,917 | |
| FIDELITY SELECT MEDICAL DELIVERY | | | 91 | | | | 4,939 | |
| FIDELITY SELECT BIOTECHNOLOGY | | | 41 | | | | 2,540 | |
| FIDELITY SELECT BROKERAGE & INVST MGT | | | 72 | | | | 4,964 | |
| FIDELITY CASH RESERVES | | | 881,493 | | | | 881,493 | |
| FIDELITY VALUE | | | 167 | | | | 12,689 | |
| FIDELITY CAPITAL & INCOME | | | 5,103 | | | | 42,716 | |
| FIDELITY CONTRAFUND | | | 431 | | | | 27,904 | |
| FIDELITY SHORT TERM BOND | | | 1,249 | | | | 11,068 | |
| FINISAR CORP | | | 1,850 | | | | 3,848 | |
| FIRST PETE & PIPELINE INC | | | 16,000 | | | | 176 | |
| FORD MTR CO DEL COM | | | 20 | | | | 156 | |
| FORDING CDN COAL TR UNIT | | | 900 | | | | 31,113 | |
| FORMFACTOR INC | | | 145 | | | | 3,542 | |
| |
CONMED Corporation
Retirement Savings Plan
Schedule of Assets (Held at End of Year)
Brokerage Link Account
December 31, 2005
Security Description | | Shares | | Fair Value |
| FOWARD INDS II | | | 1,200 | | | | 10,680 | |
| FOUNDRY NETWORKS INC | | | 500 | | | | 6,905 | |
| FREESCALE SEMICONDUCTOR INC | | | 23 | | | | 579 | |
| GALAXY MINERALS INC | | | 20,000 | | | | 240 | |
| GAP INC | | | 1,100 | | | | 19,404 | |
| GENENTECH INC | | | 25 | | | | 2,313 | |
| GENERAL ELECTRIC CO | | | 430 | | | | 15,072 | |
| GENERAL MOTORS ACEP CORP | | | 10,000 | | | | 8,946 | |
| GENUITY INC CL A NEW | | | 5 | | | | 0 | |
| GLOBAL ENERGY GROUP INC | | | 10,699 | | | | 1,819 | |
| GOLDCORP INC NEW | | | 300 | | | | 6,684 | |
| GOOGLE INC | | | 15 | | | | 6,223 | |
| GROWTH FUND OF AMERICA CLASS A | | | 385 | | | | 11,887 | |
| HARBOR CAPITAL APPRECIATION | | | 1,894 | | | | 61,851 | |
| HARVARD SCIENTIFIC CO | | | 100 | | | | 0 | |
| HOME DEPOT INC | | | 140 | | | | 5,667 | |
| HUFFY CORP | | | 2,000 | | | | 0 | |
| HYDROGENICS CORP | | | 500 | | | | 1,565 | |
| IAC/INTERACTIVE CRP COM NEW | | | 31 | | | | 878 | |
| IBISES INTL INC NEW | | | 1,000 | | | | 15 | |
| INTEL CORP | | | 1,380 | | | | 34,445 | |
| INTELLISYNC CORP | | | 1,000 | | | | 5,160 | |
| |
CONMED Corporation
Retirement Savings Plan
Schedule of Assets (Held at End of Year)
Brokerage Link Account
December 31, 2005
Security Description | | Shares | | Fair Value |
| INTERIORS INC CL A | | | 5,000 | | | | 0 | |
| INTL BUSINESS MACH | | | 55 | | | | 4,521 | |
| INTL SPEEDWAY CL A | | | 100 | | | | 4,790 | |
| INTERNET CAP GROUP INC | | | 9 | | | | 74 | |
| ISCO INTL INC | | | 1,000 | | | | 320 | |
| ISONICS CORP | | | 200 | | | | 360 | |
| JANUS OLYMPUS | | | 93 | | | | 3,042 | |
| JDS UNIPHASE CORP NFS LLC | | | 3,647 | | | | 8,607 | |
| JP MORGAN CHASE & CO | | | 6 | | | | 238 | |
| JABIL CIRCUIT INC | | | 1,280 | | | | 47,475 | |
| JOHNSON & JOHNSON | | | 400 | | | | 24,040 | |
| JUNIPER NETWORKS INC | | | 175 | | | | 3,903 | |
| KEITHLEY INSTRUMENTS INC | | | 100 | | | | 1,398 | |
| LEAR CORP | | | 100 | | | | 2,846 | |
| LEVEL 3 COMMUNICATIONS INC | | | 100 | | | | 287 | |
| LILLY ELI & CO | | | 40 | | | | 2,264 | |
| LUCENT TECH INC | | | 18,000 | | | | 47,880 | |
| MBNA CORP | | | 300 | | | | 8,145 | |
| MARVEL ENTMT INC | | | 1,000 | | | | 16,380 | |
| MARVELL TECHNOLOGY GRP LTD | | | 75 | | | | 4,207 | |
| MAVERICK TUBE CORP | | | 200 | | | | 7,972 | |
| MEDCO HEALTH SOLUTIONS INC | | | 24 | | | | 1,339 | |
| |
CONMED Corporation
Retirement Savings Plan
Schedule of Assets (Held at End of Year)
Brokerage Link Account
December 31, 2005
Security Description | | Shares | | Fair Value |
| MEDTRONIC INC | | | 300 | | | | 17,271 | |
| MERCK & CO INC | | | 200 | | | | 6,362 | |
| MERCK & CO INC NOTES | | | 20,000 | | | | 20,026 | |
| MERIDIAN BIOSCIENCE | | | 600 | | | | 12,084 | |
| MERIDIAN FUND | | | 1,493 | | | | 54,615 | |
| MERRILL LYNCH CO INC MTN BE | | | 20,000 | | | | 19,845 | |
| MERRILL LYNCH NTS | | | 25,000 | | | | 28,528 | |
| MICROSOFT CORP | | | 506 | | | | 13,232 | |
| MIRACLE ENTERTAINMENT INC | | | 16,625 | | | | 0 | |
| MIRAVANT MEDICAL TECHNOLOGY | | | 536 | | | | 99 | |
| MOTOROLA INC NOTES | | | 10,000 | | | | 11,116 | |
| MOTOROLA INC | | | 393 | | | | 8,878 | |
| NQL INC | | | 1,000 | | | | 1 | |
| NANOGEN INC | | | 4,000 | | | | 10,440 | |
| NANOPHASE TECH CORP | | | 10 | | | | 57 | |
| NASDAQ 100 TR UNIT SER 1 | | | 550 | | | | 22,227 | |
| NAUTILUS GROUP INC COM | | | 350 | | | | 6,531 | |
| NEEDHAM GROWTH FUND | | | 326 | | | | 11,631 | |
| NEOWARE SYSTEMS INC | | | 600 | | | | 13,980 | |
| NETFLIX COM INC | | | 1,200 | | | | 32,472 | |
| NOKIA CORP ADR | | | 550 | | | | 10,065 | |
| NORTEL NETWORKS CORP NEW (HOLDING CO) | | | 154 | | | | 471 | |
| NORTHGATE EXPL LTD | | | 1,000 | | | | 1,830 | |
CONMED Corporation Retirement Savings Plan Schedule of Assets (Held at End of Year) Brokerage Link Account December 31, 2005 |
Security Description | | Shares | | Fair Value |
| OCEANEERING INTL INC | | | 200 | | | | 9,956 | |
| ORACLE CORPORATION NFS LLC | | | 550 | | | | 6,716 | |
| PLX TECHNOLOGY INC | | | 100 | | | | 860 | |
| PACCAR INC | | | 200 | | | | 13,846 | |
| PACIFIC RIM MINING CORP | | | 8,600 | | | | 6,450 | |
| PAINCARE HLDGS INC | | | 6,350 | | | | 20,701 | |
| PARADIGM OIL & GAS INC | | | 4,000 | | | | 312 | |
| PARAFIN CORP | | | 9,000 | | | | 540 | |
| PARNASSUS EQUITY INCOME PORTFOLIO | | | 3,147 | | | | 75,589 | |
| PCCW LTD NEW | | | 100 | | | | 62 | |
| PETROQUEST ENERGY INC | | | 500 | | | | 4,140 | |
| PFIZER INC | | | 500 | | | | 11,660 | |
| POWERWAVE TECH INC | | | 250 | | | | 3,143 | |
| PRIMUS TELECOMMS GP | | | 5 | | | | 4 | |
| QUALCOMM INC NFS LLC | | | 481 | | | | 20,721 | |
| RAMBUS INC NFS LLC | | | 1,240 | | | | 20,076 | |
| RAYTHEON CO COM NEW | | | 100 | | | | 4,015 | |
| REALNETWORKS INC NFS LLC | | | 600 | | | | 4,656 | |
| S&P 500 DEPOSITORY RECEIPT | | | 415 | | | | 51,672 | |
CONMED Corporation Retirement Savings Plan Schedule of Assets (Held at End of Year) Brokerage Link Account December 31, 2005 |
Security Description | | Shares | | Fair Value |
| SPSS INC | | | 33 | | | | 1,021 | |
| SAFESCRIPT PHARMACIES INC | | | 2,000 | | | | 0 | |
| ST PAUL COS INC | | | 4 | | | | 179 | |
| SAP AG SPON ADR | | | 100 | | | | 4,507 | |
| SHAMAN PHARMACEUTICALS INC | | | 44,070 | | | | 0 | |
| SHES GOT NETWORK INC | | | 700 | | | | 7 | |
| SILICON GRAPHICS INC | | | 2,000 | | | | 700 | |
| SILICON VALLEY RESEARCH INC | | | 2,000 | | | | 0 | |
| SILVERADO GOLD MINES LTD | | | 9,998 | | | | 520 | |
| SILVER STAR ENERGY INC COM | | | 1,250 | | | | 275 | |
| SIRIUS SATELLITE RADIO INC | | | 6,600 | | | | 44,220 | |
| SMART TEK SOLUTIONS INC COM | | | 25,200 | | | | 4,536 | |
| SOUTHWESTERN ENERGY | | | 800 | | | | 28,752 | |
| SPARTAN US EQUITY INDEX | | | 95 | | | | 4,189 | |
| SPRINT CORP (FON GROUP) | | | 25 | | | | 584 | |
CONMED Corporation Retirement Savings Plan Schedule of Assets (Held at End of Year) Brokerage Link Account December 31, 2005 |
Security Description | | Shares | | Fair Value |
| SUN MICROSYSTEMS INC NFS LLC | | | 310 | | | | 1,299 | |
| SUPERCONDUCTOR TECHNOLOGIES INC | | | 90 | | | | 39 | |
| TEXAS INSTRUMENTS INC | | | 500 | | | | 16,035 | |
| 3COM CORP NFS LLC | | | 1,005 | | | | 3,618 | |
| 3M COMPANY | | | 6 | | | | 465 | |
| TIME WARNER INC | | | 396 | | | | 6,906 | |
| TYCO INTL LTD NEW | | | 140 | | | | 4,040 | |
| UNITED PARCEL SVC INC | | | 120 | | | | 9,018 | |
| UNITEDHEALTH GROUP | | | 75 | | | | 4,661 | |
| US GOLD SHARES | | | 2,116 | | | | 22,645 | |
| VA LINUX SYS INC | | | 150 | | | | 267 | |
| VERIZON COMMUNICATIONS | | | 200 | | | | 6,024 | |
| VERIZON PENN NOTES | | | 10,000 | | | | 9,971 | |
| VAN ECK INT’L INVESTORS GOLD | | | 339 | | | | 4,186 | |
| VERTICAL COMPUTER SYSTEM INC | | | 1,000 | | | | 6 | |
| VIRAGEN INC | | | 100 | | | | 45 | |
CONMED Corporation Retirement Savings Plan Schedule of Assets (Held at End of Year) Brokerage Link Account December 31, 2005 |
Security Description | | Shares | | Fair Value |
| WAL-MART STORES INC | | | 390 | | | | 18,957 | |
| WANNIGAN CAP CORP | | | 14 | | | | 2 | |
| WANNINGAN MINING CORP RESTRICTED | | | 4 | | | | 0 | |
| WASATCH HOISINGTON US TREAS | | | 1,771 | | | | 25,857 | |
| WAVE SYSTEMS CORP CL A | | | 139 | | | | 95 | |
| WELLS FARGO & CO NEW | | | 200 | | | | 12,566 | |
| WESTERN DIGITAL CORP | | | 1,000 | | | | 18,610 | |
| WHOLE FOODS MKT INC | | | 200 | | | | 15,478 | |
| WIND RIV SYS INC NFS LLC | | | 100 | | | | 1,477 | |
| WORLDCOM INC GA NEW WORLDCOM GROUP COM | | | 20,390 | | | | 0 | |
| WORLDCOM INC GA (MCI GROUP) | | | 72 | | | | 0 | |
| WRIGHT MED GROUP INC | | | 1,000 | | | | 20,400 | |
| XO COMMUNICATIONS IN C CL-A | | | 5,000 | | | | 0 | |
| XYBERHAUT CORP | | | 200 | | | | 9 | |
| XCELERA.COM INC ISIN | | | 100 | | | | 20 | |
| YAHOO INC NFS LLC | | | 123 | | | | 4,819 | |
| ZHONE TECHNOLOGIES INC NEW COM | | | 2,523 | | | | 5,349 | |
| ZIMMER HLDGS INC | | | 1,379 | | | | 93,000 | |
| TOTAL ACCOUNT MARKET VALUE | | | | | | $ | 3,319,919 | |
Pursuant to the requirements of the Securities Exchange Act of 1934, the Plan Administrator has duly caused this Annual Report to be signed by the undersigned hereunto duly authorized.
| | CONMED CORPORATION |
| | Retirement Savings Plan |
| | | |
| | | |
| | | |
| | | |
| | By: | /s/ Robert D. Shallish, Jr. |
| | | Robert D. Shallish, Jr. |
| | | Vice President - Finance and |
| | | Chief Financial Officer |
| | | CONMED Corporation |
Date: June 26, 2006
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