Jan 22 U.S. orthopedic implant maker Stryker Corp on Wednesday said quarterly net profit rose 43 percent, driven by increased sales in its reconstructive and neurotechnology divisions as well as lower taxes.
The company reported fourth-quarter net earnings of $386 million, or $1.01 per share, compared with $270 million, or 71 cents a share a year earlier. Net sales for the quarter rose 5.6 percent to $2.47 billion.
Excluding items such as product recall and acquisition charges, Stryker earned $1.23 per share. Wall Street analysts, on average, expected $1.22 per share, according to Thomson Reuters I/B/E/S.
Stryker said its effective tax rate in the latest quarter was 10.3 percent, compared with 24.6 percent in fourth quarter 2012.
For full-year 2014, the company projected organic sales growth of between 4.5 percent and 6 percent.