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Stryker Operating Results for Quarter Ended March 31, 2009
Date:4/20/2009

KALAMAZOO, Mich., April 20 /PRNewswire-FirstCall/ -- Stryker Corporation (NYSE: SYK) reported operating results for the quarter ended March 31, 2009 as follows:

First Quarter Highlights

  • Net sales increased 3.3% on a constant currency basis (2.0% decrease as reported) to $1,601 million
  • Orthopaedic Implants sales increased 6.2% on a constant currency basis (0.2% increase as reported)
  • MedSurg Equipment sales decreased 1.0% on a constant currency basis (5.3% decrease as reported)
  • Net earnings decreased 3.2% from $291 million to $281 million
  • Diluted net earnings per share increased 1.4% from $0.70 to $0.71

"The unprecedented global economic slowdown clearly impacted our business, yet our diverse set of businesses still delivered underlying sales growth in this very challenging period as six of our eight key product franchises delivered mid-single to low double-digit constant currency revenue growth," commented Stephen P. MacMillan, President and Chief Executive Officer.

Net sales were $1,601 million for the first quarter of 2009, representing a 2.0% decrease compared to net sales of $1,634 million for the first quarter of 2008. On a constant currency basis, net sales increased 3.3% for the first quarter.

Net earnings for the first quarter of 2009 were $281 million, representing a 3.2% decrease compared to net earnings of $291 million for the first quarter of 2008. Diluted net earnings per share for the first quarter of 2009 increased 1.4% to $0.71 compared to $0.70 for the first quarter of 2008.

Sales Analysis

Domestic sales were $1,042 million for the first quarter of 2009, representing an increase of 0.9%, as a r
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SOURCE Stryker Corporation
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