What's with the stock price???

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He is like Obama... ,Bush did it or in his case Corasanti did. In the end he is just a suit that never created anything just rode good luck throughout his career. He was probably a good General Manager some 10 years ago at Styker instruments but time, age and ...ego are starting to take over.
 






To be fair, Hartman's performance has actually been much worse than Joe Corasanti's. In each of the 4 quarters that Hartman has been the CEO, his numbers compared to Joe's numbers are all worse. Look at this last report, and you don't even have to know anything about financial reports. Revenues down! EPS down! Margins down! Numbers that got Joe Corasanti fired would actually look great today. For the first half of 2015, Hartman's numbers are off by millions of dollars versus Joe's numbers, and versus the turn around Hartman has been promising. If the investors are not already asking, they will be asking for some pretty serious explanations, if Hartman does not produce a great second half of the year. They might be already asking "Joe Corasanti, Where For Art Thou". One thing Hartman is better at than Joe, is talking. He is much better at telling you all the miracles he is going to perform.
 






anonymous said:
To be fair, Hartman's performance has actually been much worse than Joe Corasanti's. In each of the 4 quarters that Hartman has been the CEO, his numbers compared to Joe's numbers are all worse. Look at this last report, and you don't even have to know anything about financial reports. Revenues down! EPS down! Margins down! Numbers that got Joe Corasanti fired would actually look great today. For the first half of 2015, Hartman's numbers are off by millions of dollars versus Joe's numbers, and versus the turn around Hartman has been promising. If the investors are not already asking, they will be asking for some pretty serious explanations, if Hartman does not produce a great second half of the year. They might be already asking "Joe Corasanti, Where For Art Thou". One thing Hartman is better at than Joe, is talking. He is much better at telling you all the miracles he is going to perform.
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the 9mm restructuring expense is bs too. I cannot believe there was the first National Sales meeting ever, planned at the last minute, with a huge price tag and the cost that went up was due to restructuring? seems strange? and the first action hartman did in early 2014 was to restructure corp sales, and now many if thise gpos are falling off. all this when other biotech/medtech are doing great. In any case his decissions have definitely made a impact... a bad ine.
 












anonymous said:
not easy to get growth out of this company after years of not giving investments to right businesses
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Don't worry Curt, at you next job you can tell them how you managed during difficult times just like you told Conmed about Stryker. The fact is that after you left they took off and in fact you have been at the head of Conmed as interim/full time for almost two years, during that time check out what other companies did (hologic). no excuses they just had a better strategy.
 






anonymous said:
not easy to get growth out of this company after years of not giving investments to right businesses
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This may well be true. But that is not what Hartman has been saying. He has been saying that there will be market equivalent revenue growth of 5% to 6%. and strong EPS growth in the second half of the year due to his reorganization. His projections go up dramatically in the second half of 2015. Are you saying that Hartman is misleading or not accurate in his projections?
 






I would not believe anything he says, 5-6% is in line with industry? seems like a pretty low number, a lot like when CET met their quota that actually declined from previous years... lets give a standing ovation at nsm anyway. But is does sound better to come in at 4 percent when you told everyone 5-6. real number is probably 15-17%. the fact is that if the number is positive they will be satisfied.... and the investors keep getting screwed.
 












EPS....yikes!!!! going back to old finance business model, cut costs, reduce manufacturing footprint, load up mexico...how are we doing with the international sales teams now, are we getting our fair share of growth? Is Pat turning around international?
 






if Pat is anything like the other clowns brought in by Curt, then it will probably be a glorious failure with their retreat to the next career within two to three years. Not sure about if the eps strategy, doing it the old way or whatever will work but the change in strategy to pump out meaningless platitudes seems to be the only strategy that is consistent. As long as Curt is getting paid who cares, btw did anyone see Luke got paid 1mm as comptroller? WTF
 






EPS strategy??? WTF. The last 3 quarters are .53, then .42, then .36. Notice a trend? Last quarter was .36 versus last year of .44. During the past 4 years Conmed revenues are down by $40 million. So far this year, down by $11 million. Curt's on a record pace! Yet the Controller is making a million dollars? Who says crime doesn't pay? That's because most of the Board of Directors are accountants, and they believe the most important positions in an organization are people who can count things, not sell things. The Board just brought on two new members and you guessed it, their ......accountants! They might as well put Conmed's number two ranked employee, Curt's secretary, in charge. She couldn't do any worse! What I can't figure is why does all the big holders of stock hang in there with Curt and his crew? They can't believe anything he's telling them about improved performance. After the last quarters disaster of an announcement the stock should have dropped to $35 or lower. Yet, it stays up in the $50's.
 












anonymous said:
EPS strategy??? WTF. The last 3 quarters are .53, then .42, then .36. Notice a trend? Last quarter was .36 versus last year of .44. During the past 4 years Conmed revenues are down by $40 million. So far this year, down by $11 million. Curt's on a record pace! Yet the Controller is making a million dollars? Who says crime doesn't pay? That's because most of the Board of Directors are accountants, and they believe the most important positions in an organization are people who can count things, not sell things. The Board just brought on two new members and you guessed it, their ......accountants! They might as well put Conmed's number two ranked employee, Curt's secretary, in charge. She couldn't do any worse! What I can't figure is why does all the big holders of stock hang in there with Curt and his crew? They can't believe anything he's telling them about improved performance. After the last quarters disaster of an announcement the stock should have dropped to $35 or lower. Yet, it stays up in the $50's.
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I talked to some people up in Utica. The reason for the huge income to the controller and other senior managers is the bonus money Hartman paid to them for staying for a year and not for performance. The question is why would you do that? Since this management team has not made their numbers in 7 years, and not made their numbers over the past year since they were asked to stay, why would you do that? Paying them to leave I can understand, but stay???????
Hartman better make his numbers this quarter and next, or he is going to have some serious questions to the shareholders. If he doesn't make his numbers this quarter, they should get rid of him. Not for missing every number he has put out there since becoming CEO, but for showing such bad decision making ability in coming up with this non performance bonus program and keeping the prior CEO's management team around.
 






anonymous said:
To be fair, Hartman's performance has actually been much worse than Joe Corasanti's. In each of the 4 quarters that Hartman has been the CEO, his numbers compared to Joe's numbers are all worse. Look at this last report, and you don't even have to know anything about financial reports. Revenues down! EPS down! Margins down! Numbers that got Joe Corasanti fired would actually look great today. For the first half of 2015, Hartman's numbers are off by millions of dollars versus Joe's numbers, and versus the turn around Hartman has been promising. If the investors are not already asking, they will be asking for some pretty serious explanations, if Hartman does not produce a great second half of the year. They might be already asking "Joe Corasanti, Where For Art Thou". One thing Hartman is better at than Joe, is talking. He is much better at telling you all the miracles he is going to perform.
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Ha Ha. Let's just say the 3rd quarter is looking even worse than the 2nd quarter. But like Hartman said in the last earnings call, "the growth is coming in the 2nd half of the year." That statement still has everyone baffled, considering there are no new product launches scheduled in 2015, from any of the divisions. Oh well, I guess Hartman must have something up his sleeve to make a huge turnaround in the 4th quarter. Lol
 












that might be a bit extreme, there are a lot of good people there and tons of potential, but the company is not a cash machine and has probably been treated that way too long. I just doesn't look the right model is being used to 'fix' it.
 












Thanks Activist Investor. You turned a slightly underperforming company and turned it into a terminally ill company. Eugene Corasanti must be rolling over in his grave.​

CONMED Corporation (Nasdaq: CNMD) today announced financial results for the third quarter ended September 30, 2015.

Third Quarter 2015 Highlights

  • Sales were $169.2 million, a decrease of 3.3% compared to the third quarter of 2014. On a constant currency basis, sales increased 0.5% over the prior-year period.
  • Diluted earnings per share (GAAP) were $0.32, compared to $0.07 in the third quarter of 2014.
  • Adjusted diluted earnings per share were $0.38 versus $0.44 in the prior-year period.
  • Appointed Nathan Folkert as Vice President and General Manager of Orthopedics.
“While I am pleased to see total Company constant currency sales break back into positive growth, the overall results indicate the transformative changes we are pursuing are taking longer to implement than we had anticipated,” commented Curt R. Hartman, CONMED’s President and Chief Executive Officer. “Weaker than expected performance in our export markets and in our domestic General Surgery business slowed our progress this quarter. I remain confident that CONMED has the right team of leaders and the sense of urgency necessary to advance our turnaround efforts.”

Sales Analysis

For the quarter ended September 30, 2015, domestic sales, which represented 51.9% of total revenue, increased 1.3%, driven by growth in capital equipment sales within Visualization and Orthopedics. International sales, which represented 48.1% of total revenue, declined 7.8% compared to the third quarter of 2014 on a reported basis. Foreign currency exchange rates, including the effects of the FX hedging program, had a negative impact of $6.6 million on third quarter sales. In constant currency, international sales decreased 0.4% versus the prior-year period as a result of a decline in sales of capital equipment, particularly within General Surgery and Visualization.

Earnings Analysis

Reported net earnings totaled $8.9 million in the quarter, compared to reported net earnings of $2.0 million in the prior year. Reported diluted net earnings per share were $0.32 in the quarter, compared to $0.07 in the prior-year period. Reported net earnings for the third quarter of 2014 included substantially higher costs related to restructuring and shareholder activism. The effect of each of these items on reported net earnings appears in the reconciliation of GAAP to non-GAAP measures provided below.

Excluding the impact of the items described above, adjusted net earnings of $10.6 million decreased 13.2% year over year and adjusted diluted net earnings per share of $0.38 decreased 13.6% year over year. The decline in adjusted net earnings was largely attributable to weaker than anticipated international sales, the negative impact of foreign currency, and a higher tax rate, partially offset by improved gross margin and lower operating expenses during the quarter.

2015 Outlook

Based on weaker than expected third quarter sales, the Company has reduced its 2015 constant currency organic sales growth estimate to 0% to 1%, compared to the previous estimate of 1% to 3%.

Using current exchange rates, the Company now forecasts total reported 2015 sales to be in the range of $715 to $720 million, compared to prior guidance of $723 to $738 million. Adjusted earnings per diluted share are now expected to be in the range of $1.65 to $1.70, compared to prior guidance of $1.82 to $1.92.
 






Great job Curt! What's this 6 missed quarters in a row? What a douche bag you are!! What's your excuse going to be for the 4th quarter?? When is the Board going to cut you loose like Stryker's did?? This is all you and your "team".

Don't forget to take Beyer with you when you get shit canned.
 












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