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![CONMED Corp [CNMD] reports annual net loss of $64.5 million](/_next/image?url=https%3A%2F%2F10kinfo-appdata.s3.us-west-2.amazonaws.com%2Fedgar0105%2FCompanyLogos%2FUS%2FCNMD.png&w=1200&q=75)
CONMED Corp [CNMD] has reported a net loss of $64.5 million for year ended Dec 31, 2023.
The Company said in a filing before the Securities and Exchange Commission that its total revenue for the year was $1.2 billion
Based in LARGO, Florida, CONMED Corp operates in the MANUFACTURING sector.
In the financial analysis of the annual report ending on December 31, 2023, compared to the same period in 2022 and 2021, the following key figures are noted:
- Net Sales for the year ended December 31, 2023, reached $1.24 billion, showing an increase from the previous year's figure of $1.05 billion in 2022 and $1.01 billion in 2021.
- Cost of Sales for the same period was $568.5 million, compared to $474.2 million in 2022 and $442.6 million in 2021.
- Gross profit stood at $676.2 million for 2023, a rise from $571.2 million in 2022 and $568 million in 2021.
- Income from Operations climbed to $120.6 million in 2023, significantly higher than the $70 million in 2022 but lower than the $109.7 million recorded in 2021.
- Net Income recorded a significant improvement in 2023, achieving $64.5 million compared to a loss of $80.6 million in 2022 and $62.5 million in 2021.
- Basic Earnings per share for the year 2023 is $2.10, showing a favorable increase from a loss of $2.68 in 2022 and $2.14 in 2021. Similarly, Diluted Earnings per share also display a positive trend at $2.04 in 2023 compared to a loss of $2.68 in 2022 and $1.94 in 2021.
Overall, the comprehensive income for the year 2023 is reported at $72.1 million, significantly rebounding from a loss of $84.2 million in 2022 but slightly lower than the $72 million in 2021. This uptrend indicates a positive trajectory for the company.
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