Stryker Corp. reported net earnings growth of 10.2 percent from $278 million to $306 million and adjusted net earnings growth of 10.3 percent from $299 million to $330 million for the quarter ended Dec. 31, according to a Stryker Corp. news release.
Net sales increased 6.8 percent to $1.8 billion, or 2.5 percent on a constant currency bias. Orthopedic implant sales increased 9.7 percent (4.7 percent on a constant currency bias), and medical surgical equipment sales decreased 2.5 percent (0.7 percent on a constant currency bias).
For the year ended Dec. 31, net sales increased 0.1 percent (1.7 percent on a constant currency bias) to $6.7 billion. Orthopedic implant sales increased 3.8 percent (5.7 percent on a constant currency bias), and medical surgical equipment sales decreased 5.4 percent (4.1 percent on a constant currency bias).
Domestic sales increased 2.6 percent in the fourth quarter and 0.8 percent for the year. International sales increased 14.6 percent in the fourth quarter and decreased 1.2 percent for the year. The impact of foreign currency comparisons to the dollar value of international sales was favorable by $73 million in the fourth quarter and unfavorable by $110 million for the year ended Dec. 31. On a constant currency basis, international sales increased 2.2 percent in the fourth quarter and 3.3 percent for the year.
Worldwide sales of orthopedic implants increased 9.7 percent in the fourth quarter and 3.8 percent for the year. On a constant currency basis, sales of orthopedic implants increased 4.7 percent in the fourth quarter and 5.7 percent for the year.
Worldwide sales of medical surgical equipment increased 2.5 percent in the fourth quarter and decreased 5.4 percent for the year. On a constant currency basis, sales of medical surgical equipment decreased 0.7 percent in the fourth quarter and decreased 4.1 percent for the year.
The financial forecast for 2010 includes a constant currency net sales increase of 5 percent to 8 percent as a result of growth in shipments of orthopedic implants and medical surgical equipment. If foreign currency exchange rates hold near current levels, the company anticipates net sales will be favorably impacted by approximately 4 percent to 5 percent in the first quarter of 2010 and by approximately 1.5 percent to 2.5 percent for the full year of 2010, according to the release.
Read the release on Stryker 4Q earnings.