Stryker Q1 Net Earnings Drop 13% After Hip Implant Recalls

InstrumentsStryker reported 1.3 percent net sales growth in the first quarter of 2013, but net earnings decreased 13.1 percent when compared with the first quarter of 2012.

The company's earnings were impacted by the voluntary recall of the Rejuvenate and ABG III modular-neck hip stems, which related charges totaling $230 million. Another $40 million charge was recorded for two additional regulatory matters.

The company reported an increase in neurotechnology and spine net sales, which reached $397 million during the first quarter. The reconstructive net sales increased 1.2 percent to $969 million in the first quarter.

In March, the company completed its acquisition of Trauson Holdings, which will expand the company's presence in the Chinese orthopedic market.

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