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Stryker Reports 9% Sales Growth, 13% Adjusted Net Earnings Growth for Quarter Ended December 31, 2010
Date:1/25/2011

constant currency basis, sales of Orthopaedic Implants increased 4.3% in the fourth quarter and 3.3% for the year ended December 31, 2010, based on higher sales of hips, knees and trauma implant systems.

Worldwide sales of MedSurg Equipment were $829 million for the fourth quarter representing an increase of 15.3% and were $3,012 million for the year ended December 31, 2010, representing an increase of 15.7%. On a constant currency basis, sales of MedSurg Equipment increased 15.4% in the fourth quarter and 15.0% for the year ended December 31, 2010, based on higher shipments of surgical equipment and surgical navigation systems, endoscopic and communications systems and patient handling and emergency medical equipment as well as sales growth through acquisitions.

Earnings AnalysisDuring the fourth quarter of 2010, the Company recorded an impairment charge of $124 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 impairment charge and other previously reported adjusting items, adjusted net earnings for the fourth quarter of 2010 of $372 million increased 12.5% over adjusted net earnings of $330 million for the fourth quarter of 2009 and adjusted diluted net earnings per share for the fourth quarter of 2010 of $0.93 increased 13.4% over adjusted diluted net earnings per share of $0.82 for the fourth quarter of 2009.  

Excluding the impact of adjusting items, adjusted net earnings for the year ended December 31, 2010 of $1,329 million increased 12.6% over adjusted net earnings of $1,180 million for the year ended December 31, 2009 and adjusted diluted net earnings per share for the year ended December 31, 2010 of $3.33 increased 12.9% over adjusted diluted net earnings per share of $2.95 for the year ended December 31, 2009.  

Reconciliations of net earnings
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SOURCE Stryker Corporation
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