Financial

Stryker’s second-quarter profit meets expectations

(Reuters) – U.S. orthopedics company Stryker Corp on Thursday reported slightly higher second-quarter profit that was in line with Wall Street expectations on increased sales of reconstructive and surgical products.

The company posted net profit of $215 million, or 56 cents per share, compared with a profit of $213 million, or 56 cents per share, a year ago.

Excluding an assortment of one-time charges, involving product recalls, acquisitions, and legal and other costs, Stryker said it earned $1.08 per share, matching analysts’ average expectations, according to Thomson Reuters I/B/E/S.

Revenue for the quarter rose 6.8 percent to $2.4 billion, edging past Wall Street estimates of $2.35 billion.

Stryker said it now expects full-year sales growth of 5 percent to 6 percent and adjustedearnings of $4.75 to $4.80 per share, taking down the high end of its previously issued EPS forecast range by 10 cents. (Reporting by Bill Berkrot; Editing by Lisa Shumaker)

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Josh Sandberg

Josh Sandberg is the President of Ortho Sales Partners and Partner for The De Angelis Group. He also serves as Co-Founder and Editor of OrthoSpineNews.

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