Stryker third-quarter profit falls just short of Street estimate
(Reuters) - Orthopedic implant maker Stryker Corp (SYK.N) posted third-quarter earnings on Wednesday that missed Wall Street estimates by a penny, as sales rose just 1 percent amid soft pricing and unfavorable foreign currency rates.
Stryker, which makes artificial hips and knees, as well as hospital beds and surgical instruments, posted a quarterly net profit of $383.5 million, or 92 cents per share, compared with $388.4 million, or 84 cents per share, a year earlier.
Excluding one-time charges, Stryker earned 97 cents a share. Analysts on average expected 98 cents a share, according to Thomson Reuters I/B/E/S.
Net sales totaled $2.05 billion, just short of the $2.07 billion forecast by analysts.
The Kalamazoo, Michigan-based company said it expects full year adjusted earnings of $4.04 to $4.07 per share for 2012 and $4.25 to $4.40 for 2013.
(Reporting By Deena Beasley. Editing by Andre Grenon)
- Malaysian plane presumed crashed; questions over false IDs |
- CORRECTED-UPDATE 4-Malaysia Airlines plane crashes in South China Sea with 239 people aboard - report
- China draws 'red line' on North Korea, says won't allow war on peninsula
- Warning shots fired to turn monitors back from Crimea |
- Malaysian plane crashed off Vietnam coast: state media