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Stryker Reports 7% Sales Growth, 14% Adjusted Net Earnings Growth for Quarter Ended September 30, 2010
Date:10/19/2010

KALAMAZOO, Mich., Oct. 19 /PRNewswire-FirstCall/ -- Stryker Corporation (NYSE: SYK) reported operating results for the quarter ended September 30, 2010 as follows:

Third Quarter Highlights

  • Net sales increased 7.0% on a constant currency basis (6.9% as reported) to $1,768 million
  • Orthopaedic Implants sales increased 1.3% on a constant currency basis (1.2% as reported)
  • MedSurg Equipment sales increased 16.3% on a constant currency basis (16.1% as reported)
  • Adjusted net earnings increased 14.2% from $277 million to $317 million and adjusted diluted net earnings per share increased 15.9% from $0.69 to $0.80
  • Reported net earnings increased 47.5% from $229 million to $338 million and reported diluted net earnings per share increased 49.1% from $0.57 to $0.85

  • "We are pleased that our third quarter results continue to reinforce the strengths provided by our unique set of businesses. As we move into the final quarter of the year, we remain focused on delivering on the goals we outlined at the start of 2010 as it relates to both sales and earnings while also ensuring we are making investments in our business to position us for continued growth in the future," commented Stephen P. MacMillan, Chairman, President and Chief Executive Officer.

    Sales Analysis Net sales increased 6.9% to $1,768 million for the third quarter of 2010. On a constant currency basis, net sales increased 7.0% in the quarter.

    Domestic sales were $1,174 million for the third quarter of 2010, representing an increase of 9.7%, as a result of higher shipments of Orthopaedic Implants and MedSurg Equipment.

    International sales were $594 million for the third quarter of 2010, representing an increase of 1.7%.  The impact of foreign currency comparisons to the dollar value of international sales was unfavorable by $2 million in the thir
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    SOURCE Stryker Corporation
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