(Adds 2014 analyst estimate, after-hours share price)
Jan 22 U.S. orthopedic implant maker Stryker
Corp said on Wednesday quarterly net profit rose 43
percent, driven by increased sales in its reconstructive and
neurotechnology divisions as well as lower taxes.
Excluding items such as product recall and acquisition
charges, Stryker earned $1.23 per share, just ahead of the $1.22
per-share forecast, on average, by Wall Street analysts,
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
For full-year 2014, when its accounting for amortization of
certain assets will change, the company projected earnings of
$4.75 to $4.90 per share and organic sales growth of between 4.5
and 6 percent. Analysts, on average, forecast full-year earnings
of $4.58 per share.
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.
Shares of Stryker, which closed nearly unchanged at $78.58
on the New York Stock Exchange on Wednesday, were up about 0.5
percent at $79.00 in after-hours trading.
(Reporting by Deena Beasley in Los Angeles; editing by Chris
Reese and Matthew Lewis)