Smith & Nephew reported flat revenue for the first quarter of 2017.
Here are six things to know:
1. Revenue was flat at $1.1 billion for the first quarter of the year. Emerging markets reported double-digit growth, with revenue up 13 percent.
2. The sports medicine sector reported flat revenue at $466 million, reflecting a 6 percent growth in sports medicine joint repair and 5 percent growth in trauma and extremities offset by a 23 percent drop in the other surgical businesses. The arthroscopic enabling technologies revenue also dropped 2 percent.
3. The company's reconstruction segment revenue was up 2 percent to $396 million. Knee implant revenue grew 4 percent while hip implant revenue was down 1 percent.
4. In advanced wound management, revenue was flat at $1.1 billion reflecting a 14 percent growth in advanced wound devices offset by a 9 percent drop in advanced wound bioactivities and 1 percent drop in advanced wound care.
5. U.S. revenue dropped 1 percent to $55 million while other established markets dropped 2 percent.
6. Smith & Nephew expects revenue to grow 3 percent to 4 percent for 2017.
"Over the last few years we have successfully put in place the right structures and capabilities to make the group stronger, simpler, more agile and efficient. We continue to focus on execution and expect to see progress through the year," said CEO Olivier Bohuon.