Stryker reported net sales were up in the second quarter of 2015 and expect sales to continue growing for the remainder of the year.
Her are 10 things to know from the financial report:
1. The company's consolidated net sales were up 2.9 percent in the quarter to $2.4 billion. The foreign currency exchange rates negatively impacted net sales by 4.7 percent. Excluding the 0.7 percent impact of acquisitions, net sales in the quarter increased 6.9 percent.
2. The company's net sales were up due to increased unit volume, but was offset by lower prices.
3. The net sales in the orthopedics line were flat at $1 billion. The foreign exchange rates also negatively impacted orthopedics line sales.
4. The Neurotechnology and spine sales were up 6.4 percent in the quarter, reaching $458 million.
5. The company's net earnings were up 206.3 percent in the quarter to reach $392 million. The diluted net earnings per share were $1.03, up 212.1 percent in the quarter.
6. Sales in the United States were up 9.4 percent to $1.7 billion. However international sales were down 9.9 percent to $716 million.
7. The company also reported each line within the orthopedics and spine lines:
• Knees: down 1 percent to $346 million
• Hips: down 2.1 percent to $320 million
• Trauma and extremities: up 4 percent to $309 million
• Spine: flat at $186 million
8. Stryker updated 2015 expected sales growth to 6.5 percent to 7.5 percent, including organic sales of 5.5 percent to 6.5 percent. Diluted earnings per share are expected to raise $1.20 to $1.25 in the third quarter and $5.06 to $5.12 for the full year.