Stryker Corporation Reports Preliminary Unaudited Consolidated Sales Results for the Fourth Quarter and Year Ended December 31, 2014; Provides Preliminary Earnings Guidance for the Fourth Quarter and Year Ended December 31, 2014; Provides Earnings Guidance for the Fiscal Year 2015
January 13, 2015 at 05:35 pm
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Stryker Corporation reported preliminary unaudited consolidated sales results for the fourth quarter and year ended December 31, 2014. Preliminary net sales for the fourth quarter were $2.6 billion, increased 6.1%. Excluding the impact of foreign currency and acquisitions, preliminary net sales increased 5.5% in the fourth quarter. Fourth quarter results include one less selling day, which negatively impacted sales by approximately 1%.
For the full year, the company reported preliminary net sales of $9.7 billion, increased 7.3%. Excluding the impact of foreign currency and acquisitions, preliminary net sales increased 5.8% for the full year.
The company now projects preliminary 2014 adjusted diluted net earnings per share to be in the range of $4.72 to $4.74, an increase of 5.1% to 5.6% over adjusted diluted net earnings per share of $4.49 in 2013. The full year negative foreign exchange impact was approximately $0.15 per share, while the fourth quarter includes a negative impact of approximately $0.06 per share or $0.02 to $0.03 per share worse than previously disclosed during third quarter earnings call.
For the fourth quarter of 2014, the company expects diluted net earnings per share of $0.61 - $0.70. Adjusted diluted net earnings per share is expected to be $1.43 - $1.45.
Based on the current exchange rates, the company expects 2015 adjusted net earnings per diluted share to be negatively impacted by approximately $0.20 per share, which compares to prior estimate of $0.10 - $0.12 per share based on foreign exchange rates at the end of the third quarter.
Stryker Corporation is one of the world's leaders in designing, manufacturing, and selling orthopedic equipments. Net sales break down by family of products as follows:
- surgical equipments and neurotechnology products (57.5%): electric motorized surgical instruments, surgical navigation systems, endoscopy equipment, digital imaging systems, neurosurgery equipments, neurovascular devices, etc. The group also offers hospital beds, gurneys, stretchers, and emergency room equipment;
- orthopedic implants (42.5%): joint prostheses, traumatology implants, micro-implants, orthopedic cement, orthobiology products, etc. The group also provides spinal implants.
At the end of 2022, the group had 48 production sites worldwide.
Net sales are distributed geographically as follows: the United States (73.9%), Europe/Middle East/Africa (12.7%), Asia/Pacific (10.2%) and other (3.2%).
Stryker Corporation Reports Preliminary Unaudited Consolidated Sales Results for the Fourth Quarter and Year Ended December 31, 2014; Provides Preliminary Earnings Guidance for the Fourth Quarter and Year Ended December 31, 2014; Provides Earnings Guidance for the Fiscal Year 2015