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Stryker Increases Expected 2010 Results and Provides 2011 Outlook
Date:1/10/2011

KALAMAZOO, Mich., Jan. 10, 2011 /PRNewswire/ -- Stryker Corporation (NYSE: SYK) announced today that net sales were $1,995 million for the fourth quarter of 2010, representing an 8.8% increase over net sales of $1,834 million for the fourth quarter of 2009, and were $7,320 million for the year ended December 31, 2010, representing an 8.9% increase over net sales of $6,723 million for the year ended December 31, 2009. On a constant currency basis, net sales increased 8.6% for the fourth quarter. For the year, constant currency sales growth of 7.8% falls within the previously communicated 7% to 8% constant currency sales range and is at the high end of the initial 5% to 8% sales guidance.

Stryker expects 2010 diluted net earnings per share to be in the range of $3.17 to $3.19 compared to diluted net earnings per share of $2.77 in 2009. During the fourth quarter of 2010, the Company will record a charge of approximately $125 million ($77 million net of income taxes) to reflect the anticipated loss on the previously announced sale of OP-1 assets used in orthopaedic bone applications.

Excluding the impact of the 2010 OP-1 assets charge and other previously reported adjusting items, adjusted diluted net earnings per share for 2010 are expected to be in the range of $3.31 to $3.33, above the previously communicated $3.27 to $3.30 range. This will represent an increase of 12.2% to 12.9% over adjusted diluted net earnings per share of $2.95 in 2009.  A reconciliation of diluted net earnings per share to adjusted diluted net earnings per share has been included at the end of this press release.

During the fourth quarter, Stryker repurchased 6.1 million shares at a cost of $314 million bringing total 2010 share repurchases to 8.3 million shares at a cost of $426 million.

"Despite ongoing economic uncertainty and a slowdown in elective surgeries, we delivered sa
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SOURCE Stryker Corporation
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