Stryker 3Q Financial Report: Net Earnings Drop
reported net earnings of $103 million for the third quarter, which is down dramatically from $353 million during the same period last year.
Despite lower net earnings, the company's sales were up 4.8 percent from $2.1 billion in 2012 to $2.2 billion in 2013. Stryker's spine device sales increased 4.1 percent this quarter, and trauma and extremities saw the biggest gain with 18.1 percent increased sales.
The bulk of Stryker's earnings loss falls on recall charges from the Rejuvenate and ABG II modular neck and hip stems and the Neptune Waste Management System. Recall charges cost the company $313 million this past quarter and $700 million overall.
More Articles on Devices:
Integra LifeSciences Launches Proximal Shoulder Fracture System
The New, Disrupted Medical Device Industry Landscape
NuVasive Celebrates 10 Years, Launches Bendini Spinal Rod Bending System & XLIF Decade Plate
© Copyright ASC COMMUNICATIONS 2012. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.
To receive the latest hospital and health system business and legal news and analysis from Becker's Hospital Review, sign-up for the free Becker's Hospital Review E-weekly by clicking here.
- 4 Steps to Include in Your ICD-10 Transition Plan
- Physicians: 6 Tips for Managing an Online Reputation
- HSHS Medical, Sangamon Associated Anesthesiologists Collaborate for Enhanced Surgical Services in Illinois
- New England Baptist Outpatient Care Center Goes Live With Anesthesia Touch
- Mexican Company Acquires Assets of Medical Imaging System Maker Naviscan