Stryker Earns 99 Cents Per Share

Stryker ($SYK) earned 99 cents per share for the first quarter which matched Wall Street’s estimate:

For the latest quarter, Stryker reported a profit $350 million, or 91 cents a share, up from $307 million, or 78 cents a share, a year ago. Excluding items, earnings were 99 cents a share, matching the estimate from analysts polled by Thomson Reuters.

Revenue increased 7.2% to $2.16 billion, above analysts’ expectations of $2.12 billion.

Sales at Stryker’s MedSurg unit, which makes products including surgical equipment, hospital beds and stretchers, increased 7.5% to $821 million.

Gross margin rose to 67.2% from 65.8%.

Shares of the company, which affirmed its forecast for 2012, rose 1.1% to $55.50 in after-hours trading. The stock has risen 10% so far this year.

Stryker reiterated its full-year forecast of earnings growth of “double-digit levels” over 2011.

Posted by on April 17th, 2012 at 4:11 pm

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