- Conmed ( NYSE: CNMD ) withdrew its previously-issued FY22 financial outlook because of a temporary disruption resulting from the implementation of new warehouse management software.
- The company had said in its Q3 results that it was narrowing its revenue guidance between $1.1B and $1.115B, compared to its prior guidance of between $1.095B and $1.140B. Consensus is $1.11B. Non-GAAP EPS is expected to be in the range of $3.21 to $3.28, down from the prior range of $3.25 to $3.45. ($3.22 consensus)
- CNMD began implementing new software in recent weeks, which created shipping disruptions that lasted longer than originally projected.
- The impact to business performance is anticipated to be limited to Q4.
- For FY23, the medical technology company expects to report revenue between $1.170B and $1.230B, vs. consensus of $1.21B, and non-GAAP EPS in the range of $3.20 to $3.50, vs. consensus of $3.39.
- Source: Press Release
For further details see:
Conmed withdraws FY22 guidance on software implementation-related disruption