Stryker Earns 98 Cents Per Share

After the bell, Stryker ($SYK) reported Q2 earnings of 98 cents per share which was one penny below Street expectations. Most importantly, they reiterated their full-year guidance for “double-digit” earnings growth.

Stryker Corporation reported operating results for the second quarter of 2012 with net sales of $2.1 billion, up 2.9% and adjusted diluted net earnings per share(1) of $0.98, an increase of 8.9%.

“Leveraging the strength of our broad based product offering, our Q2 revenues increased 3% as reported and 5% in constant currency. Through solid sales growth coupled with margin expansion we delivered adjusted per share earnings growth of 9%,” commented Curt R. Hartman, Interim Chief Executive Officer and Vice President and Chief Financial Officer. “We remain on track to deliver on our financial commitments for 2012 which include 2% to 5% growth excluding the impact of acquisitions and currency and double-digit adjusted per share earnings growth.”

Stryker has earned $1.97 for the first half of 2012. Double-digit earnings growth translates to earnings of at least $4.09 per share. The stock is down some after hours, but Stryker is clearly still on track for this year.

Posted by on July 18th, 2012 at 4:33 pm


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