Smith & Nephew reported a 2 percent revenue increase in the third quarter of 2018.
Here are five things to know:
1. Smith & Nephew's third quarter revenue hit $1.17 billion, a 2 percent increase over the same period in 2017. The company also reported 4 percent underlying revenue growth in the U.S. and 10 percent growth in emerging markets.
2. The revenue increase was driven by a 9 percent growth in third quarter revenue for the company's sports medicine joint repair line, which hit $166 million in revenue. Smith & Nephew's trauma and extremities business revenue grew 2 percent to $122 million, while the arthroscopic enabling technologies revenue dropped 4 percent to $138 million.
3. Both the knee and hip reconstruction lines experienced low growth, 1 percent and 2 percent respectively, to $232 million in revenue for knee implants and $142 million for hip implants. Revenue for the company's wound management lines dropped 1 percent to $319 million.
4. Smith & Nephew's Navio Surgical System, robotic technology for joint procedures, drove 12 percent growth in the company's other surgical businesses line, with new customers in established and emerging markets.
5. For 2018, the company projects underlying revenue growth to be in the lower half of the 2 percent to 3 percent estimated growth rate over 2017 due to a favorable legal settlement and improved cost control and trading profit margins. Smith & Nephew doesn't expect the United Kingdom's exit from the European Union to have a long-term significant impact on it's ability to do business there.