India, April 29 -- CONMED Corporation (CNMD) on Wednesday said its first-quarter profit more than doubled despite lower sales as margins improved. Looking forward, the company raised its full-year growth outlook.
Net sales declined 1.3% year-over-year to $317.0 million from $321.3 million last year. Sales were impacted by a $15.5 million drop from exiting certain gastroenterology (GI) products. Domestic revenue fell 5.8%, while international revenue rose 4.7%.
Net income more than doubled to $13.8 million or $0.45 per share, compared to $6.0 million or $0.19 per share last year. Adjusted earnings per share came in at $0.89, slightly below $0.95 last year.
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