Enovis Corporation Reports Earnings Results for the Third Quarter and Nine Months Ended September 29, 2023
November 07, 2023 at 04:59 pm IST
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Enovis Corporation reported earnings results for the third quarter and nine months ended September 29, 2023. For the third quarter, the company reported sales was USD 417.52 million compared to USD 383.81 million a year ago. Net loss was USD 2.88 million compared to USD 66.61 million a year ago. Basic loss per share from continuing operations was USD 0.36 compared to USD 1.22 a year ago. Diluted loss per share from continuing operations was USD 0.36 compared to USD 1.22 a year ago. Basic loss per share was USD 0.05 compared to USD 1.23 a year ago. Diluted loss per share was USD 0.05 compared to USD 1.23 a year ago.
For the nine months, sales was USD 1,252.18 million compared to USD 1,154.39 million a year ago. Net loss was USD 36.23 million compared to net income of USD 25.31 million a year ago. Basic loss per share from continuing operations was USD 1.05 compared to basic earnings per share from continuing operations of USD 0.3 a year ago. Diluted loss per share from continuing operations was USD 1.05 compared to diluted earnings per share from continuing operations of USD 0.3 a year ago. Basic loss per share was USD 0.67 compared to basic earnings per share of USD 0.47 a year ago. Diluted loss per share was USD 0.67 compared to diluted earnings per share of USD 0.46 a year ago.
Enovis Corporation is a medical technology company. It is focused on developing clinically differentiated solutions by manufacturing and distributing medical devices with a range of products used for reconstructive surgery, rehabilitation, pain management and physical therapy. It operates through two segments: Prevention & Recovery and Reconstructive. The Prevention & Recovery segment develops, manufactures, and distributes rigid bracing products, orthopedic soft goods, vascular systems and compression garments, and hot and cold therapy products and offers recovery sciences products in the clinical rehabilitation and sports medicine markets, such as bone growth stimulators and electrical stimulators used for pain management. The Reconstructive segment develops, manufactures, and markets a variety of knee, hip, shoulder, elbow, foot, ankle, and finger implant products and surgical productivity tools. It also provides Novastep, a minimally invasive surgery (MIS) foot and ankle solutions.