Stryker Corporation Lowers High End Of Prior FY 2011 Revenue Guidance; Raises FY 2011 EPS Guidance-Conference Call

Stryker Corporation announced that for fiscal 2011, it now expects net sales increase of 11% to 12% in constant currency. Excluding the impact of foreign currency as well as acquisitions, sales growth is now projected to be 4% to 5% for fiscal 2011. The adjusted diluted net earnings per share (EPS) range has been raised, and is now anticipated to be in the $3.70 to $3.74 range; and comparing favorably to prior $3.65 to $3.73 range. It anticipate acquisition and integration-related charges to reduce reported diluted net earnings per share by approximately $0.33 to $0.35. The Company reported revenue of $7.320 billion in fiscal 2010. According to I/B/E/S Estimates, analysts were expecting the Company to report EPS of $3.71 on revenues of $8.339 billion for fiscal 2011.