While Stryker net sales increased 14.9 percent to $2 billion during the third quarter of 2011, net earnings decreased by 3 percent, according to a Stryker news release.
The company attributes increased unit volume and changes in its product mix to the net sales growth over the third quarter of last year. The company's reconstructive products had an 8 percent increase in sales, due in part to acquisitions. The company acquired Orthovit and Memomental earlier this year. This success was offset by lower shipments of knee and other implant systems.
Sales from the company's knee products grew 2.6 percent to $311 million, while hip sales grew by 9.9 percent to $300 million. The company's spine business grew by 121 percent to $184 million, making it the largest section of growth.
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Sales from the company's knee products grew 2.6 percent to $311 million, while hip sales grew by 9.9 percent to $300 million. The company's spine business grew by 121 percent to $184 million, making it the largest section of growth.
Related Articles on Orthopedic Device Companies:
K2M Hires 3 New International Team Leaders
11 Spine Devices Receive FDA 510(k) Clearance in September
15 Orthopedic and Spine Device Company Executive Moves