Stryker Loses $103M in Q3 From Recall Costs

Kalamazoo, Mich.-based Stryker reported net earnings of $103 million for the third quarter, which is down dramatically from $353 million during the same period last year. Despite lower net earnings, the company's sales were up 4.8 percent from $2.1 billion in 2012 to $2.2 billion in 2013. Stryker's spine device sales increased 4.1 percent this quarter, and trauma and extremities saw the biggest gain with 18.1 percent increased sales.

The bulk of Stryker's earnings loss falls on recall charges from the Rejuvenate and ABG II modular neck and hip stems and the Neptune Waste Management System. Recall charges cost the company $313 million this past quarter and $700 million overall.

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