Stryker Net Earnings Dip 34.5% in Q2 From Device Recall Costs

Stryker's net earnings dropped 34.5 percent in the second quarter, despite increased sales over the same period last year. The company reported $213 million in net earnings this past quarter, compared to $325 million in 2012. The drop was due largely to a $170 million charge from the voluntary recalls of the Rejuvenate and ABG II modular-neck hip stems.

Net sales reached $2.2 billion, up from $2.1 billion last year. Sales from spine and neurotechnology devices increased 5.4 percent from $393 million to $414 million.

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