Stryker 2Q12: Slightly Disappointing; Searching for New CEO (Orthopedics This Week)
Stryker Corporation reported $2.106 billion in sales for the second quarter on July 18, a 5% increase on a constant currency basis. The Street had expected sales of $2.130 billion.
The company's reconstructive division, including hips, knees and trauma, increased revenue by 3.5% to $927 million. Spine sales, part of the company's neurological/spine division, rose 8.6% to $181 million.
On a constant currency basis, Stryker hip sales only rose 0.8%, knees rose 2.1% and trauma and extremities rose 9.3%. Spine sales climbed 8.6%.
Stryker 2Q12
Sales
($ in millions)
% Change*
Total Reported Sales
$2,106
5.0%
Reconstructive
$927
3.5%
Hips
$308
0.8%
Knees
$329
2.1%
Trauma/Extremities
$233
9.3%
Med Surg
$786
3.3%
Neurotech/Spine
$786
12.4%
Spine
$181
12.2%
Source: Stryker Corporation
* Constant currency
Ortho Market Recovering
As the third orthopedic company to report revenue for the second quarter, (after DePuy Synthes Companies and Biomet, Inc.), we are beginning to see a clearer picture of the overall orthopedic market.
...
