Stryker posts operating results

February 12, 2011
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Stryker Corp. (NYSE: SYK) reported operating results for the quarter and year ended Dec. 31. According to a news release, net sales were $1.995 million for the fourth quarter of 2010, representing an 8.8 percent increase over net sales of $1.834 million for the fourth quarter of 2009, and were $7.320 million for the year ended Dec. 31, 2010, representing an 8.9 percent increase over net sales of $6.723 million for the year ended Dec. 31, 2009. On a constant currency basis, net sales increased 8.6 percent for the fourth quarter and 7.8 percent for the year ended Dec. 31, 2010.

During the fourth quarter of 2010, the company recorded an impairment charge of $124 million ($77 million net of income taxes) to reflect the anticipated loss on the sale of OP-1 assets used in orthopaedic bone applications.

Adjusted net earnings for fourth quarter 2010 of $372 million increased 12.5 percent over adjusted net earnings of $330 million for fourth quarter 2009, and adjusted diluted net earnings per share for fourth quarter 2010 of 93 cents increased 13.4 percent over adjusted diluted net earnings per share of 82 cents for fourth quarter 2009.

Net earnings for the fourth quarter of 2010 were $295 million, representing a 3.6 percent decrease from net earnings of $306 million for the fourth quarter of 2009. Diluted net earnings per share for the fourth quarter of 2010 decreased 2.6 percent to 74 cents from 76 cents for the fourth quarter of 2009. Net earnings for the year ended Dec. 31, 2010, were $1.273 million, representing a 15 percent increase from net earnings of $1.107 million for the year ended Dec. 31, 2009.

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