Selected Quarterly Financial Data (Unaudited)

Selected quarterly financial data for 2015 and 2014 are as follows:



	Three Months Ended
	March		June		September		December
2015
Net sales	$	177,940	$	181,027	$	169,184	$	191,017
Gross profit	92,282		93,498		93,546		102,376
Net income	6,312		7,461		8,873		7,852
EPS:
Basic	$	.23	$	.27	$	.32	$	.28
Diluted	.23		.27		.32		.28



	Three Months Ended
	March		June		September		December
2014
Net sales	$	181,941	$	188,150	$	174,961	$	195,003
Gross profit	102,582		101,028		96,414		104,033
Net income	8,626		10,255		1,972		11,339
EPS:
Basic	$	.32	$	.38	$	.07	$	.41
Diluted	.31		.37		.07		.41

Items Included In Selected Quarterly Financial Data:

2015

First Quarter

During the first quarter of 2015, we incurred $2.3 million in costs associated with the consolidation of our Centennial, Colorado manufacturing operations into other existing CONMED manufacturing facilities. These costs were charged to cost of sales and include severance and other charges associated with the consolidation – see Note 11.

During the first quarter of 2015, we recorded a charge of $6.2 million to selling and administrative expense related to the restructuring of certain selling and administrative functions which includes severance costs and other related costs - see Note 11.

Second Quarter

During the second quarter of 2015, we incurred $1.5 million in costs associated with the consolidation of our Centennial, Colorado manufacturing operations into other existing CONMED manufacturing facilities. These costs were charged to cost of sales and include severance and other charges associated with the consolidation – see Note 11.

During the second quarter of 2015, we recorded a charge of $2.2 million to selling and administrative expense related to the restructuring of certain selling and administrative functions which includes severance costs and other related costs - see Note 11.

Third Quarter

During the third quarter of 2015, we incurred $1.3 million in costs associated with the consolidation of our Centennial, Colorado manufacturing operations into other existing CONMED manufacturing facilities. These costs were charged to cost of sales and include severance and other charges associated with the consolidation – see Note 11.

During the third quarter of 2015, we recorded a charge of $1.1 million to selling and administrative expense related to the restructuring of certain selling and administrative functions which includes severance costs and other related costs - see Note 11.

Fourth Quarter

During the fourth quarter of 2015, we incurred $2.8 million in costs associated with the consolidation of our Centennial, Colorado manufacturing operations into other existing CONMED manufacturing facilities. These costs were charged to cost of sales – see Note 11.

During the fourth quarter of 2015, we recorded a charge of $4.3 million to selling and administrative expense related to the restructuring of certain selling and administrative functions which includes severance costs and other related costs - see Note 11.

During the fourth quarter of 2015, we recorded a charge of $2.1 million to selling and administrative expense associated with the purchase of SurgiQuest, Inc and other acquisitions. - see Note 11 and Note 15.

2014

First Quarter

During the first quarter of 2014, we incurred $0.9 million in costs associated with the moving of additional product lines to our manufacturing facility in Chihuahua, Mexico; consolidation of our Finland operations into our Largo, Florida and Utica, New York manufacturing facilities; consolidation of our Westborough, Massachusetts operations into our Largo, Florida and Chihuahua, Mexico manufacturing facilities and the consolidation of our Centennial, Colorado manufacturing operations into other existing CONMED manufacturing facilities. These costs were charged to cost of sales – see Note 11.

During the first quarter of 2014, we recorded a charge of $0.7 million to selling and administrative expense related to the restructuring of certain administrative functions - see Note 11.

During the first quarter of 2014, we recorded a charge of $1.9 million to selling and administrative expense related to legal fees associated with a patent infringement claim, including $0.9 million in settlement costs - see Note 11.

During the first quarter of 2014, we recorded a charge of $0.6 million in selling and administrative expense for professional fees associated with shareholder activism - see Note 11.

In New York State, corporate tax reform enacted in March 2014 changed the tax rate of a manufacturing company such as CONMED to essentially 0%. Previously recorded New York State net deferred tax assets of $2.3 million have been written off as a non-cash charge to income tax expense - see Note 6.

Second Quarter

During the second quarter of 2014, we incurred $1.4 million in costs associated with the moving of additional product lines to our manufacturing facility in Chihuahua, Mexico and the consolidation of our Centennial, Colorado manufacturing operations into our other existing CONMED manufacturing facilities. These costs were charged to cost of sales – see Note 11.

During the second quarter of 2014, we recorded a charge of $0.5 million to selling and administrative expense related to consolidating certain administrative functions - see Note 11.

During the second quarter of 2014, we recorded a charge of $1.4 million to selling and administrative expense related to a legal matter in which we prevailed at trial and consulting fees - see Note 11.

During the second quarter of 2014, we recorded a charge of $0.9 million to selling and administrative expense related to professional fees associated with shareholder activism - see Note 11.

Third Quarter

During the third quarter of 2014, we incurred $1.4 million in costs associated with the moving of additional product lines to our manufacturing facility in Chihuahua, Mexico and the consolidation of our Centennial, Colorado manufacturing operations into our other existing CONMED manufacturing facilities. These costs were charged to cost of sales – see Note 11.

During the third quarter of 2014, we recorded a charge of $0.6 million to selling and administrative expense related to consolidating certain administrative functions - see Note 11.

During the third quarter of 2014, we recorded a charge of $2.4 million to selling and administrative expense related to professional fees associated with shareholder activism - see Note 11.

During the third quarter of 2014, we recorded a charge of $11.0 million to selling and administrative expense related to costs associated with restructuring of executive management. These costs include severance payments, accelerated vesting of stock-based compensation awards, accrual of the present value of deferred compensation and other benefits to our then Chief Executive Officer as defined in his termination agreement; accelerated vesting of stock-based compensation awards to certain members of executive management and other benefits earned - see Note 11.

During the third quarter of 2014, we recorded a charge of $0.3 million to selling and administrative expense associated with the purchase of EndoDynamix, Inc. - see Note 11.

Fourth Quarter

During the fourth quarter of 2014, we incurred $1.9 million in costs associated with the moving of additional product lines to our manufacturing facility in Chihuahua, Mexico and the consolidation of our Centennial, Colorado manufacturing operations into our other existing CONMED manufacturing facilities. These costs were charged to cost of sales – see Note 11.

During the fourth quarter of 2014, we recorded a charge of $1.5 million to selling and administrative expense related to consolidating certain administrative functions - see Note 11.

During the fourth quarter of 2014, we recorded a charge of $1.5 million to selling and administrative expense related to costs associated with restructuring of executive management. These costs include accelerated vesting of stock-based compensation awards to certain members of executive management, consulting fees and other benefits earned - see Note 11.

During the fourth quarter of 2014, we recorded a charge of $0.3 million to selling and administrative expense associated with the purchase of EndoDynamix, Inc. - See Note 11.