Stryker releases second-quarter operating results

Stryker Corporation recently released its second-quarter operating results, in which the company reported net earnings of $392 million, marking an increase of 206.3% during the quarter.

The company’s net sales increased by 2.9% to $2.4 billion overall in the quarter, with orthopedics accounting for $1 billion in net sales for an increase of 0.6% in the quarter, according to a company press release.

Constant currency increased by 6.2%, as net sales were negatively impacted by 5.6% due to the impact of foreign currency exchange rates. Taking into account the 0.9% impact of acquisitions, net sales in the quarter for orthopedics increased by 5.3% in constant currency.

Knee devices accounted for $346 million in sales, hip devices accounted for $320 million, trauma and extremities devices accounted for $309 million and other devices accounted for $60 million of the $1 billion in reported sales.

According to the release, spine and neurotechnology net sales of $458 million increased by 6.4% in the quarter as reported, and by 11.5% in constant currency, as net sales were negatively impacted by 5.1% due to the impact of foreign currency exchange rates. Spine net sales accounted for $186 million of the $458 million total. Constant currency net sales increased by 14.1%, according to the release.

“We continue to execute well across our businesses and delivered organic sales growth of approximately 7% in the second quarter,” Kevin A. Lobo, Stryker chairman and CEO, said in the release. “Our strong first-half performance and positive momentum is reflected in our raised guidance and underscores the strength of our people and diversified portfolio.”

Reference: www.stryker.com.