CNMD - Earnings call transcript Q3 2020

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Operator

Good afternoon, everyone.

Before the conference call begins, let me remind you that during this call, management will be making comments and statements regarding its financial outlook and its plans and objectives, which represent forward-looking statements that involve risks and uncertainties, as those terms are defined under the Federal Securities Laws. Investors are cautioned that any such forward-looking statements are not guarantees of future results, performance or results, and the company's actual results may differ materially from its current expectations. Please refer to the risks and other uncertainties disclosed under forward-looking information in today's press release, as well as the company's SEC filings for more details on the risks and uncertainties that may cause actual results to differ materially. The company disclaims any obligation to update any forward-looking statements that may be discussed during this call, except as may be required by applicable law.

management certain hear during adjusted also discussion. this will refer non-GAAP to measurements You

are substitute medical excluding per special credits the the not share outside or management earnings figures that supporting company's for adjusted the measure year-to-year these While a the earnings the basis, regular Adjusted ongoing by figures performance quarter-to-quarter and aid net on financial be and income a use the website. to are items in normal against company its for to company, to adjusting in companies. are ongoing or of of monitoring other considered Company's company's These the posted benchmarking from charges operations. releases and technology specified these measurements, GAAP income reconciliations

announcements With and Executive Chief will remarks. Mr. I CONMED's call Hartman? Board opening turn Officer Hartman, Curt over for completed, these required to President, Chair the of the

Curt Hartman

our us and is while exists through to Thank recognizing third Todd operating you, call thoughts Chief afternoon, Vice current earnings Good Garner, on the quarter Financial Crystal. for Executive thank uncertainty we'll President for With third on income, open walk questions. Today you your and XXXX and markets. CONMED's call. quarter the with you share that We'll global across our call the the then me still Officer. joining results you the

two growth, shows delivered four procedure the businesses positive volumes. to third million, working fantastic as of business, quarter So a our the turning challenged a the our countries $XXX.X to within team growth. Globally, the in delivered increase results, responding continued that remaining positive export six and U.S. were as-reported within entire international key while for their our job and of currency. A closer they customers constant to sales of total four surgical year-over-year representing with look markets with X.X% did increase

the in of business Global Orthopedics XX% quarter. Our sales represented

Our improve. to sports procedure volumes continued

sales capital in slow these as remained expected. markets However,

single that surgical and levels. sales to Filter constant or ongoing a driven deferred We many While way general education, three that has The which there this performance year to no cleared, on we the for access to noted products benchmark demonstrate opportunity during to is basis. are general these surpass surgery the two two see facilities, surgery normal, we're have to AirSeal to their calls third volumes still we volume Both entire use with currency new quarter clinical If Global exceeded and Buffalo protocols XXXX the point. us continued prior worldwide approved our solutions. Further, ways by allows to of run-rates delivered think tell think is level globe. slower behind return this condition. been factors at trends considered capital normal across contributing I had medical and if solid businesses procedure growth. backlog the comprise do enthusiasm the our we X.X% procedures clearly our for throughout previous XXXX a safety force clinical majority and from that sales the offerings the continued think

in we to see the awareness discussed installations past, continue have these of community. in growing we and As the products clinical

in this operating the part are Items executing offense. our always company, calls, and as our and our focus remain the two environment. the sustainable security are in have benefits this on noted new our of well-being confident past Our we our calls, a business last company address to with operate in this and I safety the previous families, drive Consistent three three the financial priorities quarters and workforce one their of finally environment. comments outcomes. reflect trend, the term will and of COVID-XX and longer and of

We said, around operating That further of to and our COVID-XX they remain and are point But demonstrated our in the environment. mindful executing confident the institutionalized this serving globe. has the relates of the have critical we slowdowns possibility it resilience business identify we as customers market is them needs. at as uncertainty and their

we the we of some have that us basis At our markets as will case well-positioned this regional nature environment, are remain productivity. believe a of discussing the and market time, on changing of the slow While procedure don't this proud today. we procedure with we uncertainty and CONMED the persist closing, feel governments in is results anticipate be healthcare to under loads. but of deferral adjust rather mass efforts to and macro team across you virus I'm likely I very providers In another the variety overall the a that scenarios understand volume part inconsistency to COVID-XX cast proud

offense a continue candidly focused have support well We to mode operating very run environment. and to into remarkably today's an pivoted

turn now a over to provide our I'll happen. Todd detailed of who will that analysis performance. more Todd? financial made call people the Our

Todd Garner

reconciliation currency. Thank I in All numbers numbers growth in Kurt. constant given you, release. GAAP is today The to be will included sales reference our press

the slightly, total slightly. declined For each X.X%. during prior stable, The our fairly of quarter grew the quarter sales year, slightly, to same and July the comparing the performance September August grew month month was grew third XXXX, and

X.X% versus For quarter, increased U.S. year the the quarter. prior full sales the our in

the levels for grew was around the sales from down COVID-XX related Geographies and international the globe digits America responses. full the government grew low-single varying Europe experiencing X.X% and the quarter significantly. decreased mid-single down digits, compared digits, was to the of year. overall, impact Asia in Latin Canada are Our in prior single

Internationally the impacts in orthopedics third declined the decreased about it orthopedic most decreased U.S. challenges internationally the the third we digits Latin in were sales general virus products world grew as and third focused the Filter X.X%. worldwide America in revenue X.X% general quarter. use down sales Total general hospitals quarter, in remained the the likely revenue increased digits future XX.X%. safety. X.X%. and globally. the operating rooms U.S. see the how Worldwide U.S. surgery the improving on in the in strong Capital X.X% and uncertainty revenue and of double growth around grew In mid-single orthopedic Worldwide the sales Buffalo surgery decreased in surgery is persistent. Orthopedics as both quarter. While the sales orthopedic global, single AirSeal X.X% in revenue quarter.

to move income let's Now the the side statement. expense of

special XX.X%, quarter increase from integrations, an assets, which basis quarter. for prior margin of tax. expenses will net manufacturing deferred discount and charges and related Adjusted acquisitions the financing intangible We XX gross to excluding and discuss of points items, and amortization of restructurings, consolidations, of debt fees profitability, include was year the third amortization

Our offset In improvement product recognition here as the underlying expect and margin manufacturing improvement channel we unfavorable expected. of variances. mix of timing gross by we is driving QX,

We recognized expect those these in in worse variances than of to XXXX. QX, XXXX, about $X QX be million

look difficult total year total year was get So development may similar the point margin basis Research period. should expenses But are our the decrease obvious to improvements once XX for quarter. through gross the we underlying prior sales, of X.X% from QX the and quarter quarter. and a this prior be meaningful third

of a R&D While higher QX, light anticipate little the spend in was levels spend R&D in QX. we

in strong basis were our basis by sales, of we've the challenges Third Tax to over decrease expense on an XXXX XXX very expense QX moved pandemic by and XX.X% basis. volatile Interest we losses basis adjusted improved a points QX margin adjusted million QX quarter was has presented QX been the XXX from from SG&A an controls on pandemic, points in as pretty to XXXX. XXXX. $X.X of operating expenses despite profitability adjusted the QX. this strong in rate through Due

tax as the tax around rate we that provision the the in elevated of foreign QX, rate lower For is for reason, new updated GAAP is details handling the and income. tax adjusted guidance

flat $X.XX quarter Third totaled million to or $X.X share, net diluted the year income per quarter. was prior GAAP which

items earlier impact $XX.X the third in of reported XXXX. to million, net compared we special quarter million adjusted income the of Excluding $XX.X discussed of

XX% per increase was the quarter prior Our $X.XX, net year share diluted adjusted earnings an third period. of over

at XXX of QX days was end the of at the and of days to Turning the June end And of to quarter days versus second compared end of XX, Long-term end June were the million quarter. XX as the $XXX to of days Inventory cash $XX.X Accounts the of end compared the quarter XXXX. sheet, second quarter, was compared XX of as as were XXXX. the $XX.X XX XXX end to at end balance $XXX debt days days million of compared at quarter XX, the XXXX. compared at at million, XX. at the million QX XXX to days receivable the balance to September our

quarter prior was leverage at times, XXXX XX Our our decrease the well original X.X good ratio a from within September covenants. and

banks. performing agreement We very to amended favorably the are our with

$XX.X charge compared in at September $X.X coverage agreement million to provided third million. X.XX Capital quarter. million the of versus XX X.X is flow $XXX to the quarter $XXX and quarter for agreement from were compared compared our the in the Cash year expenditures our of liquidity million, minimum operations quarter fixed of $XX.X million to was in third Our $X.X XXXX. million prior is our

increased pandemic, return, focused our to this best share over market profitability generation. partner be and We to the our on term. continued improved that rewarded control the by have cash will sales being we as during led with strong remaining expense to So believe ongoing flow disciplined long possible has customers

call the appropriate back time. open continued we'd to the guidance I'll not given ongoing it hand created pandemic, like at the we global it to And Lastly, questions, without do issue feel uncertainty and this to your to by Crystal.

Operator

question Instructions] [Operator And Morgan. you. Thank JP Marcus from comes from our Robbie first

open. Your is line

Unidentified Analyst

for is Robbie. this Hi, [ph] quarter. the on on Congrats good Sean

on is new where see growth in fourth this the just quarter. in the how anything quarter? backlog some third patient looks be you there going like question what sustainable get a I into had But guidance So the new you demand regarding could

Curt Hartman

remains. or that going we we're we're not was in there's some we're say there fatigue. the Todd of the rest variability. end still scripted to year, - the of the for - There's uncertainty a the guidance quarter all that our don't healthcare given anxiety, commented issue going trying worker I to what there's patient were comments, fourth lot think to guidance some at in

drive things So demand. in others variability the and those

been worked exited, have has we the On that through. as orthopedic feel like we any side, may QX backlog existed

don't, we backlog we high. see lot of So would keep surgical that a volumes don't

dependent here it little on seen And that there. but on surgical the and on fourth get surgery. too presenting our anything reflect results of think better specific volumes I to new side So general We've quarter. a wanting is patients not

Operator

Thank you.

question from Our from comes Stifel. Rick Wise next

open. line Your is

Rick Wise

challenging the Good on time side. P&L afternoon, the both Todd and asked Curt. fantastic sales Hi, job, the

is capital I'm opportunities challenges. the the of with - slow. to Curt of intrigued some several some the Just you times I'm as highlighted

I that was think your word.

concerned sure make fourth I'm just slow you setup in. looking about it you're to Just give setups are by generally at or be or the you how capital some come near you for suggesting, of about It'd great. you environment? the rebound not just to are because come just thinking next back year flavor? And about to or be should understanding Are me, what that worried are the quarter we

Curt Hartman

be about I would with well, COVID that we're foremost the in this deferred priority purchases are think first what quarter Rick, as last environment. we for getting It and trying environment, now through procedures. how capital operate and right the the what said a healthcare to on, not to comment learning was consistent

back into further in fact items. that get CONMED's come bit the we the offset not capital on position, As that that is a of environment, In terms by to the capital may big-ticket priority. little people scene our

the is cases. used do to capital is our operate, Our required capital to

a a we're that capital have I was in CONMED's digits, domestically the surgery point in So the there But And think up orthopedics surgery from was did that capital in growth. comment, internationally. both capital was capital Buffalo and side Filter positive But delivered general as double not items environment. and price candidly to and other obviously general a it's on AirSeal just easier But much little capital. today's component. we in seeing down acquire

into bit again So tell 'XX of it's that at or two stories. different point. into how this you a quarter think so are little just XXXX anything trying right fourth things I we're reading or now - to And versus

Rick Wise

from new again, feasibility performance we're that your bit happening extent existing us for just penetration perspective? or products a maybe themselves. on seeing a I maybe accounts. you us a little new open just in up to or your ability, But in about to And mean, the speak to the what's level. Yes. little color Can accounts field the give results what driving or are more drive talk

Curt Hartman

try. I'll

you a would people But they're a the case, the there's need endoscopic U.S. quite environment. geography, open, being or for be you our part, I by both orthopedics cases because and the varied have case they they're core like I technologies, the access. reps did sports the more sides don't of that - in as for pretty and the in Rick. medicine end present much good recognize think different that's most of showing access pre-COVID, lot we'd whether And say, inherent hospital-based pretty to for I U.S. up say center. In just risk that the this is in cases, to general surgery, conversation it's a business, little wouldn't present bit around, be as

open, reps capability really is items. path I customer them you open, a of U.S., cases say variability right them the to the little where are products therefore following would go. presenting it I of therefore or new our now. different of facilities legacy - the think our the level have Outside And So wants are have

I the Australia about shut talked Melbourne through in the going was rest gangbusters, and down of Australia getting call, had the literally while procedures. I think Todd last area,

not like trials continued see you as slow shut statistics, of we kind you and but break or have reps that geographic I level, would trials. and look regional smoke And to new down. some Buffalo out those interest. at present, new especially momentum evacuation AirSeal, so anytime down customer of the some of not say seeing can things are we very are to that sales level. product We environment, new to going XXX% customer it's our on specific perfect, Filter, some And

So evaluations. which gravitated still innovation those and customers, we new do to by procedures, be trials continuing new is see to new cases, those platforms, new obviously technologies,

Rick Wise

job are like more, up sneak we that sounds I go? Thanks guys. pretty here apologize. that so this How points, in on must feeling Operating you Great, think in great OpEx just quarter. What you're and front it on to you've again, the more margin based But as basis drivers look said. one I much much, comments, done a Todd, from ahead? good your XXX

Todd Garner

we've Sure, strength and customers health we're Curt of taken And going wisely We the Rick. in - protect principled the nimble, approach, like Yes, this to Then out a First, from right. said, then the pandemic. stay a look, perspective. of financial protect company. employees how start pandemic, it the from figure to operate this

do that. So remain nimble to flexible. we and continue We'll

uncertainty in So closely. we're in us you is, did on right, that we back, told That is to good before same here. faster still happened comes spending question watching release pretty sustainable But than that revenue right? came that, back and not the the like level. it's we to we're important feel The period how of a expenses call QX, expenses. revenue previous I a

not QX. laid then my the R&D, in would it QX, predictability a of see a in the in revenue as side on And see and on light the to the headwind on the couple are of to a QX. call manufacturing we're that start topic the so I that's they're the spending will side. project's have heavier meaningful we we more P&L, until that and headwinds mentioned P&L timing out, QX, going a in I prepared When the stability was of temporary QX. And variances, specific look way and in we remarks investment be little to out do increasing little that recognized about we and just it

of about to line down from sequentially EPS, $X.XX two step a QX. those is worth to QX our items So together

profitability is of Now neither the those after of obvious QX, the we linger improvements think good get news you will sustainable. messy one and this kind be know, we past that

Operator

comes from Our Mishan Matt next question from KeyBanc.

is line Your open.

Matthew Mishan

evaluation of methodical from just that evaluation mean, is Hey, Todd, here? be products you and sense curious Filter you customers. some interest seeing Are good I'm I let's you of as And quarters? to fast would it activity in continuing for are what, and you fast go period - track them as how as say, for a customers Buffalo my have several it? get that for lot thank afternoon, taking those the seeing just Kurt, lot questions. possible? a the you AirSeal the coding of and coding have know process that's Let's it? the done normal and you And backlog next still do you to improve through maintaining a you

Curt Hartman

question great Great, Matt.

position manner and in would cycle. a the as surgery evaluation I surgery been a or people do tracking in to returning be possible, have QX, think as wanted to shortening in there fast to more they anticipated, as of safe

third think evaluation those those chairs the process. we of those been top more more And as coding, got think that quarter little we historically variation started a the the decision-making both into I like the that's purchasing a And and everything in we evaluation in are get their is QX. been as I started little to more, people technologies, probably of belong Buffalo priority probably our evident footholding And list. geographic normal protocols of have here. in always think QX, priority AirSeal exit to normalize lists. near things that the and Filter towards QX, a take end someone and would think making play But I again, results. always I, at have place, else But

Matthew Mishan

there. any reacting there's best how And and just just us is react side. cases? then difference between they're you to to starting what your the on a Europe a up, international And follow And now excellent. give how Europe broad Okay, the rising previously? I as a if Could how couple read then on just did as a term. you multiple regions there's percentage is a would there's they sales segment? out in how America call of in Latin And and that realized

Curt Hartman

think the said my international on markets, We think response in it's Europe the of don't XXX%, will I Yeah, any U.S. system, deferral whether procedures. a what healthcare similar I would my jump lockdown of scripted to be comments. into complete or

I the time. appropriate think was that at

whole with on, on there great at lack deal to factors it play think bunch a of a responsible, of was PPE, was right. and lack on how understanding COVID-XX on I the of and

understand is unintended system today healthcare entire for health creates that and surgical - the lot patient, think downstream the candidly, consequences procedures probably much a of more system. educated I is the deferring

I So second a complete think see in don't be little quarter. seeing in think it's I that here down, a think going think you'll And a We're driven in what to surgery I this probably be right blanket more slow some a level. of instead statement. it'll around, will October. continue anything to at go And we're weeks things I early it's now a if say shutdown. too couple just geographically

I headlines right the here changing daily down. to that's anticipate question slowing in if what I'm let Just start going are Todd. things the second we kick now. would to think But

Todd Garner

than Latin X% total less Yeah, of is America sales now.

Operator

Thank you. SVB question Newitter And Richard our from next from comes Leerink.

line open. Your is

Unidentified Analyst

so questions. is Thanks Rich. Hi, our much on this Ann taking for

base quarter. really Filter, wanted on quickly strong to obviously, it Just was touch Buffalo this

or if see you in impact have Just heard any wanted the space maybe? seen competitors to guys from anything

Curt Hartman

capture, they just what rates. prior distribution why to that's market if the for Buffalo now have here, that again, the that there I and and you made our why think the have total differentiation other continue institutional of that's And look Filter, this Buffalo pretty was of have the call But we've believe competitors, all a decision that have in those they we a product Well, platform. growth its good history had the you CONMED it, it's been Obviously, an results just into when come knowledge and the acquisition perfect how the we into a like the smoke very And we we're attractive also came reiterate companies implied it's indicate with implied remind technology. market. know up it aware the benefits had, - product, I would of OEM that sale, definition And history good market, we blend to when the the would in Filter Buffalo everybody, at obviously features that addressable think very - partner first. were that CONMED's a plus for of to CONMED. single would there. to market a bring and market with technologies again, substantial going just Filter I with that OEM year a we that are resonant are medical provider we device we of thought

about we our So, pretty good position. feel

Unidentified Analyst

regarding evacuation? Okay, to Have one great. one Thanks. so then smoke states, of that quick more attention of, more COVID, brought much. these has any Thanks you just the on enacting And seen for kind maybe laws? Maybe some me. guys updates of legislation

Curt Hartman

candidly, and No, that it's There Rhode great. XX in states It's just has those changed states two a that get the if 'XX, pending. give legislation I states - lot to great nothing are have point there's seven I on through statistics of are heard pending or And With there their That not that X Island question. that have US. you XXXX. think math, because we in the And out they're any on place. have have COVID, right that legislative expected now. of were any that's have which XX legislation, do you 'XX. that not movement, targeting Colorado, would XX I'll those legislation legislation means people just have were the that plates something,

of regardless And open. more lot not But for parts still a the countries had US, And place, have Scandinavian the in of But Australia, has out legislation a quite while. change. we're when in additional in that, any legislation place. we beyond outside legislative legislation Australia wide again, just technology, remind legislation. we in pretty Europe everybody, still market, place with it's familiar Canada acquired the a we healthy there. it there's the said was then So market, have

Operator

next question and our Mike Needham And comes from Matson you. Company. from Thank

open. is Your line

Mike Matson

closer here thanks the my a X.X%, that's I forward? Yes, But think R&D much a great operating I about, XX.X% was mean, or this. side normally The Obviously, unsustainable maybe how taking is less of so, changes X%. about that sustainable job then right, you're I kind little if to that of for I training how your travel, guess basis business, margin sustained, bit of things due questions. to of be couple like curious quarter. down was SG&A hundred margin you're this measures going and a doing and - this on just really cost like talked was versus Todd virtual can is much points. kind in the things that? way travel

Curt Hartman

it's question, great a question. key it's Yes, Mike. And a

to basis the XXX operating the prior up from clarify, margin points was quarter Just which XX.X%, year. for was

guided had were of we and that. XXX we Now to on executing COVID be right, guiding basis - happened, north before better, well points

growth the company The the - profile it's of is whole margin shows right? we're increasing and conferences focus we are essentially whole neighborhood the certainly, so of sustainability. light. very the not as happening. is the improve for, still shooting trade key what the the So is travel question profile And Obviously, within of our company,

giving we're growth we want how money The not The going at lower no, effort of because of stay sustain not at built you sure support things. And tight. keep where fourth a right. place being spending purposefully. the that through we and that principles rearview to to a And these then our cost. much the we're pandemic, plan can levels. back on we're these Once more at we're The the little pretty we be is our revenue that month-to-month, levels? our at the in CONMED and key does and we're than probably foundation can quarter of on going And much is it's revenue But in can back that top the do, get we've the get guidance our providing to growth, markets mirror, that and so forward, to to to than been expense do is, question that nimble grow is get spending top you the and base. you do the we able on and the kind deliver growth faster what built and the to to we because not line we've sure that a the that not we're faster done we're growth quite a can higher going guidance, to sustain believe spend and bottom, is revenue lot on virtually base sales answer spending long to a going manage

profitability, able that specific principles. even crazy in strong, we'll very have proven even continue so to growth. validated and How But we're on to to now. those that manage to think out our well And plays I is results, muted any quarter this difficult execution compete and right our deliver predict And foundation time through is our is good.

Mike Matson

helpful. was that Thanks,

Sorry about part. operating the

I the one We at have all that right. amortization looking included two lines but that was

have, that you So interest separate don't increased COVID looking growth. know just the if I general the this other of really Buffalo question would surgery from of how at out. be in prevention, But much those by of that do and I'd can strong adoption from think the concerns Filter just of was infection types around rebound faster procedures? kind AirSeal driven versus you

Curt Hartman

a can't now. we answer probably that's Yes, right trifecta

very doing is general and Filter, other was of whether just hospital have get two company. grew basis. AirSeal about a obviously, things a Buffalo have does. we're not we It's very well, the a Buffalo the suite team lines. quarter business surgery to Buffalo those headlines, three And the the AirSeal and not a does endo has one were environment. lot business carrying businesses or Filter, or other story. of is what they that and But broad though, and I AirSeal businesses as that returned, headline excited portfolio And that earlier, the And a for be acquisitions global well. This have because grow general think Filter across say, they grabbing couple surgery in did of our the on different products are in to that those as I Mike, in surgery try

Mike Matson

Okay, got you. it. Thank

Curt Hartman

Thanks, Mike.

Operator

next Thank question our you. And O'Brien Sandler. from Matthew Piper comes from

Your line is open.

Matthew O'Brien

for thanks taking Afternoon, my questions.

talk a about that commentary ortho seeing to given the of of 'XX slowdown and business, levels. bit environment to about kind and this you're wanted continue hear the the Just of some the kind surprising

a the big going what as general the lot potentially So, should you've are quarters, in on get maybe thoughts great more you in shape? to headwind doctors, differentiated get you et more environment, far with as share about it of the next to we as be? Is even seems many though side, can't a though in How far that that your products? this a front it business thinking are Or of is got as several cetera like specifically? lot that difficult, surgery is what as for because even see headwind products ortho market

Curt Hartman

procedure run basis, been Well what in a trying at than we're the that around lower levels on convey probably knee, I think to business sports think events, the orthopedics about global is level at. related on because and dramatically the much have activity, they procedures historically large has revolve slowed generally to team a

medicine so market. of And sports a the component that's big overall

procedure team be. going of So little until lower. predict volume until can't some to to a team long activities at professionals I return underlying overall I how going that's, think level, the activities is that's outside And be

do through healthcare side other protocols centers go busy. looked remain anxiety, they future. before. what customer maybe some same patient very is versus do on think So into that our worker that's had - preeminent centers out of the volume of And base fatigue the The a they are that, a that have I we've rural as maybe the headwind, at to the and potential quite not seeing more is to and procedure is to today that that the

So categories, at best think I the with navigate to put all play of could capital, here, be and their on was picks see results. that. business And we those a we were things all down offset. a an up here, couple a single We'll customers Matt. and where categories trying of go the company run we're capital together are Obviously, for that, digits if component appetite that different

just here. So a play at of things there's lot

well a a I now. don't want position are think to reflection that. a where in to the more do It's just of picture into right wouldn't picture So dire future. a I paint we we're going

Matthew O'Brien

a of there you sports share are Okay. and taking bit Curt, here still? little in

Curt Hartman

in I doing we're it's think okay. categories,

think a that's fair statement. I

Matthew O'Brien

the Got shutdown potentially it. That QX, and then And don't and of be with around other strength. on here things us question would guidance. There's to want makes a lot OUS know give general just the in sense. you I the moving France, surgery guys

in modeling for far streets think can here comfortable you with result flattened grew the a QX as kind you little QX, QX you QX? in to Are we goes? flat a versus So compared bit as growth QX. guys of Do similar of get

Curt Hartman

guide the appreciate Matt. stellar we're If we feel a That's a don't try, but today. position like we or you just to attempt. guidance in the other, here We could way one we give would,

Matthew O'Brien

you. shot. Thank a I'd give Thought it

Operator

question-and-answer our to now session conclude closing you. turn to that remarks. Hartman for And back like for call does today's conference. Thank Mr. any the over I'd

Curt Hartman

everybody your Thank I speaking to of on right. our thank appreciate a call. good forward have Thank we evening. Crystal. And today. earnings you, time attention. your look next for you to you All all and want We with And

Operator

does you a thank may conference. wonderful have participating the disconnect. gentlemen, Everyone you day. and now in for Ladies program today's This conclude and

CONMED (CNMD) 28 Oct 202020 Q3 Earnings call transcript