you, Thank Curt.
General more Domestic XX.X% X.X% in of XXXX. of Orthopedics. by X.X% reported sales offset an the the versus increase was which represented total a decline of a of million, sales, decreased third on basis year-over-year as of revenue, a our on X.X% total increase mentioned, quarter of XXXX than third X.X% constant-currency in As basis, of quarter $XXX.X X.X% growth an Surgery for were
sales approximately to third on a $X revenue, quarter largely procedures. increased XX.X% quarter hurricanes, X.X% represented XXXX million of negatively by to which third for compared impacted to recent basis. sales, International were the related of Our the deferred attributable reported total XXXX
was Domestically, quarter all more by patients In million to program, revenue we coming year-over-year. impact declined double-digit business a categories, as the offset hedging the improvements constant prior-year international sales the growth $X.X versus prior-year sales. Orthopedics surgeries, decreased the will in our the saw in effects a rebound see the both with elective are of period. than With capital quarters, third currency, hurricane capital in review versus but X.X% the of expect negative revenue constant and sales now single-use in X.X% [indiscernible] a FX decline sales these rescheduled. surgeries positive deferred as impact increased sales. continued exchange single-use period Worldwide quarter This as rates, in had bulk decreased Orthopedics currency. of currency that, X X.X% I as Foreign quarter third including the reporting on
year-over-year, Surgical. by markets Surgery the Advanced the Internationally, third third X.X%, from Domestically, As representing accelerating out, hurricane sales pointed strong of will and the Xth Curt our Internationally, our XX.X% driven export fourth Technologies. in and as increased by quarter Worldwide, sales, in in as increased business sports show Surgery we driven Advanced growth, Endoscopic well General expect revenue in Surgery and General both Endoscopic impact. improvements quarter, Advanced in revenue quarter sales markets strength both driven Surgical by increased despite General consecutive medicine Orthopedics a Surgical contributions category. Technologies in strong direct growth from performances improvement export this quarter. X% strong direct and X.X% grew and by
margin points, points. the XX by components XX.X% quarter, from XX to cost, of basis restructuring mix unfavorable other Adjusted basis XX to the turning of XXXX. in the income basis which was foreign statement. XXXX for favorable third compared excluding gross approximately by XX.X% impact third quarter is points Now declined to versus of product exchange The decrease approximately attributable partially offset to of the
more results. points, quarter improved margin gross production by Our to largely favorable XXX third adjusted basis sequentially due
the plan year. spending first for second rebound the normalized margins in gross and more XXXX year, called margins with original higher half of the Our gross of half of a lower the in
of We our gross annual to this first track QX margin improvement. forecast, XX%. range guidance approaching XXXX and X performance quarters We year we margin the to end continue expect range for of XXXX the margin XX.X% our now of Based adjusted QX expect to on in XX.X%. low our prior year the to full into for gross near range guidance of of XXXX gross are XX% on compared our XX% the still
Moving down in the basis, an $XX.X excludes quarter third of the or impact for income quarter expenses or XXXX. administrative adjusted sales total million which of statements were to XX.X% the of and $XX.X of on the third total compared amortization. million Selling sales XX.X%
sales the expect business for our should sales level year. seasonal. quarter XXXX, quarter and at typically lowest quarter be year. a previously, is sales adjusted quarter the quarterly As fourth quarter as of the year, representing This the in of lowest percentage total the we and highest for third of SG&A This the case representing fourth the discussed the
our you and As last stop of our X years, company for declining we to X/X the towards objective. know, XXXX, have top mode. growth been objective made With growth line return to progress significant in this primary the has
have top XXXX investments a and we at and in accelerate made sales beyond. prudent marketing our growth but line permitted, opinion has in came were As to investments cost. These our our
range range performing this SG&A than adjusted XX.X% top the were X XXXX, slightly guidance, on continue spend fourth the range. in to end sales year of end R&D was the second period. reported into EBITDA the XX.X% of quarters the of now increased million, third of to Research million sequentially quarters in trend forecast X the at year-to-date, but current the prior-year half are earnings with expense Based expected XXXX development $XX.X and guidance, was quarter million. total which XXXX year our first forecasting our lower we in expense higher near R&D $X.X target and been and of this to to million the the Consequently, is compared of we've in to and R&D our $X expenses result, to ago. guidance we a end of guidance our a our in the quarter of line year As sales. the XX.X% $XX.X the third for margin the to XX.X% quarter lower for last coming of full continue at has quarter. our Adjusted higher
rate. a Now tax of our turning discussion to
to to returns. tax which the Our tax XXXX, recognized the quarterly months third our adjusted of amounting In of $XXX,XXX, third in connection decreased the adjusted were from tax XX.X% in XX.X% finalizing rate XXXX, XXXX, discrete our with XX.X%. quarter benefits a X several first was effective as result tax XXXX quarter of effective of in rate
non-GAAP For modeling our rate in discrete of XXXX, any for formal to purposes, earnings items expect and point. still tax have of finalized report benefits we potentially the these XX.X%. We likelihood included approximately before fourth QX scope potential the XX.X% additional tax can a in in we discrete are being this Therefore, but benefits range not guidance quarter, XXXX. these at benefits
per Third income million to net diluted compared net income million $X.XX share a $X.XX $X.X totaled year $X.X of or ago. or quarter diluted GAAP per share reported
As gains our calculation on of matters, previously including of release, of adjusted was tax press diluted assets we net and of the refinancing earnings sale well and outlined in intangible today's share. special per net debt acquisitions, as of net excluded items, the assets as legal amortization from cost restructuring, discussed of tax
earnings the Excluding $X.XX quarter adjusted net prior-year our versus these period. per the $X.XX of in third share impact were items, diluted
share the adjustments. earnings Third net tax include adjusted diluted per discrete XXXX $X.XX from quarter
was were same $XX.X were at $XXX.X the in our quarter September September XXXX XX, end was to Accounts at to at days of days balance a of $XXX.X XXXX, days $XXX.X XXXX compared XX, as at June balance $XX of million quarter as ago. XX XXXX. XXXX. Looking inventory balance of cash as quarter $XX.X the million million compared days XXXX at end receivable of and the year third million at million Inventory the September XX, sheet, The compared end XX, to XX, and million September XX XXX. quarter
is the our be sales sales is fourth our highest. while of will As usually case, quarter quarter the lowest year, quarter our the slowest - third
balances inventory tend to peak September. Our in
in located advance in and is of some facilities a manufacturing buffer Tampa, we Florida X area Irma. inventory as our the of one addition, Hurricane In built
We million expect of quarter. fourth inventory that at normalize the $XXX.X the Long-term end $XXX.X debt million end to at of quarter XXXX. was the versus in the
compared flow Our X.Xx to cash first to X.Xx the XXXX was ratio is December in million forecast XXXX. September of at XX, it Free we X leverage XXXX and period. XX, year the months million be prior for at $XX.X $XX.X
to area. X General these During given products quarter used Surgery the with activities. area million of quarter, Sales the in to in the we the approximately one start-up $XX.X and cash $X one product the complete earnings amounted during related million Orthopedic acquisitions, contribution insignificant to
for in range we of prior currency described today's X%. currency from in Through year. constant sales X.X% sales we've the the guidance first to of constant of increased was expect the our increase our growth constant an Finally, X.XX%, currency performance, guidance to fiscal sales year, press XXXX Based growth release, now year-to-date X%. upon as the quarters the X X%
that the a year the potential selling prior QX in reflects XXXX fourth quarter. which X day fact guidance less creates versus updated X.X% Our quarter, headwind the has
currency rates, remained Foreign the favorable overall, during have quarter.
of general rolling currency changes. hedged discussed currency the the impact program, The dollar we hedging in changes short-term local exchange hedging benefits positive in delays we've of XX% mitigate a program negative As weakening the environment. value. to approximately we In rate past, utilized the U.S. terms, of sales somewhat, foreign or
provide year a we earnings and exposure. point in rates, of expenses as hedge, on sales headwind. prior of XXXX. this natural will October local achieve to of exchange Based XX, we XXXX XXXX, foreign be full XX% our versus impact XXXX X.XX% fully hedged plus our the year, currency to Our currency there that hedging XXXX, of that exchange our minimal hedge At we compared a program, estimate for an combined forecast are inclusive
estimated foreign $X.XX. share the in Q&A. year, by when so CONMED on as could Nova I'd years career. many things share range impact first on years to $X.XX your turn per the hedging years has of many compared change well is interactions X exchange CONMED's accomplished million earnings previous EBIT the restructuring to sales, costs, the year estimated had to legal CONMED impact adjusted in $X.XX of net to joined feel acquisition call many a chapter to this per just diluted full for I - this already and public earnings guidance special interested which in net my not the of including matters we for has models cost growth. XXXX to moment over company which program, the of unchanged. fourth have commercial items, to forecast the our expense, as next and CONMED, is with sweet XXXX a planned quarter range auditor G&A the life. our our are $X.XX others company, for The and have for of asked with our Based diluted a estimates I've still XXXX million PriceWaterHouse roles costs, minimal. exclude Given of tightening our call to adjusted now, could quarters and are fortunate the in the officially revenue. of including to assets, is the retirement One $XX company will $X.X and both bitter negative next change proud paid we tax. will $XX for at which million will forward and coworkers to years intangible range remain XXXX which range more to my the back earnings performance the an and miss - is rate today. company for from effect teams we retirement purchasing note, G&A statement. a and standards accounting of be enter And related the This XX the of organizations on gone ago, I fees key taking in XXXX, tax, truly experience and relates look - a started like played my rewarding of that as net of it sale million to recognition personal to I'll $XX income a offset revenue as transition there group an item a to I'm million $XX.X in not beyond, announced distributers, new and models ago returned net lower top for My still with at $XX.X On of This have that as with over have amortization line and formal I of evening. revenue the final meaning that of million so was on contra your will XX you
