Stryker Corp Narrows FY 2012 Revenue Guidance; Raises FY 2012 EPS Guidance; Issues FY 2013 EPS Guidance Below Analysts' Estimates-Conference Call

Stryker Corp narrowed fiscal 2012 sales range from 2%-5% to 2.5%-4%, underlying revenue growth excluding the impact of foreign currency and acquisitions. Fiscal 2012 adjusted earnings per share (EPS) is to be in the range of $4.04 to $4.07, up approximately 9% compared to prior target of double-digit year over year earnings growth. For fiscal 2013, it expects adjusted EPS in a range of $4.25 to $4.40, up approximately 5% to 8%, which includes an estimated $100 million impact from the medical device excise tax. Excluding the tax, the Company is targeting 9% to 12% EPS growth. The Company reported revenue of $8.307 billion in fiscal 2011. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $8.62 billion for fiscal 2012; EPS of $4.41 for fiscal 2013.