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Stryker Operating Results for Quarter Ended June 30, 2009
Date:7/21/2009

KALAMAZOO, Mich., July 21 /PRNewswire-FirstCall/ -- Stryker Corporation (NYSE: SYK) reported operating results for the quarter ended June 30, 2009 as follows:

Second Quarter Highlights

  • Net sales of $1,634 million were flat (0.1% decrease) on a constant currency basis (4.6% decrease as reported)
  • Orthopaedic Implants sales increased 5.1% on a constant currency basis (0.2% decrease as reported)
  • MedSurg Equipment sales decreased 7.7% on a constant currency basis (11.0% decrease as reported)
  • Net earnings decreased 4.7% from $306 million to $291 million
  • Diluted net earnings per share were unchanged at $0.73

"In a challenging environment, we were very pleased with the growth of our U.S. Orthopaedic Implant businesses, which accelerated from last quarter and showed strong year-over-year gains. This performance, combined with our heavy focus on controlling costs across the company preserved our diluted earnings per share results in the face of the steep short term slowdown in our MedSurg businesses, and the foreign currency headwinds in the quarter," commented Stephen P. MacMillan, President and Chief Executive Officer.

Net sales were $1,634 million for the second quarter of 2009, representing a 4.6% decrease compared to net sales of $1,713 million for the second quarter of 2008, and were $3,236 million for the first half of 2009, representing a 3.3% decrease compared to net sales of $3,347 million for the first half of 2008. On a constant currency basis, net sales decreased 0.1% for the second quarter and increased 1.6% for the first half.

Net earnings for the second quarter of 2009 were $291 million, representing a 4.7% decrease compared to net earnings of $306
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SOURCE Stryker Corporation
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