Stryker reported strong financial growth for the first quarter of 2016.
Here are nine key notes:
1. Stryker reported net sales grew 4.9 percent to $2.5 billion from the first quarter of 2015.
2. Acquisitions, such as its acquisition of Physio-Control and SafeWire, did not significantly impact net sales in the quarter.
3. The company reported net earnings of $402 million, up 79.5 percent from Q1 2015.
4. Reported net earnings include certain charges for the Rejuvenate and ABG II recall, amortization of intangible assets, legal matters, acquisition- and integration-related activities and restructuring-related activities.
5. Excluding the impact of these charges, gross profit margin in Q1 2016 increased from 67.9 percent to 68 percent and operating income margin increased in the quarter from 20.8 percent to 24.2 percent.
6. Net sales of Stryker's orthopedics business increased 3.3 percent from the same period last year to $1.1 billion.
7. The company's neurotechnology and spine businesses saw an increase of 12 percent in net sales from Q1 2015, reaching $480 million.
8. Net sales of the company's MedSurg reached $958 million.
9. Stryker expects 2016 organic sales growth to be in the range of 5.5 percent to 6.5 percent.