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Stryker third-quarter profit falls just short of Street estimate
October 17, 2012 / 8:41 PM / in 5 years

Stryker third-quarter profit falls just short of Street estimate

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(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

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