Stryker Reports Flat Q1 Hip and Knee Sales, Increase in SpineWritten by Leigh Page | April 20, 2011
After some growth in the last quarter of 2010, Stryker's sales in hip and knee replacements were flat in the first quarter of 2011, although the company reported $2.02 billion in net sales, a 12 percent increase over the first quarter of 2010, according to a company news release.
But a new sales category for Stryker's spinal and neurovascular devices posted a 48 percent sales growth. Knee sales decreased by 2 percent while hip sales rose by 2 percent. The company attributed the sagging knee sales to an overall sales decline and not a loss in market share.
The company's MedSurg unit, selling surgical equipment, hospital beds and stretchers, posted a 13 percent sales gain. The company's overall profits, however, were down 4.4 percent, due to acquisition and integration-related charges.
On the orthopedic front, Stryker remains "cautious regarding the market pending evidence of a sustained improvement in the economic environment," said Katherine Owen, vice president of strategy and investor relations, in a Wall Street Journal report.
In January, the company closed on its $1.5 billion purchase of Boston Scientific's neurovascular business.
Read the release on the annual report for Stryker.
Read more coverage of sales of orthopedic and spine devices:
- Centinel Spine Reports 47% Increase in Q1 Sales
- Biomet Announces 3Q Net Loss of $11.6M
- RSB Spine Announces 145% Sales Increase in Q1
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