Stryker Net Earnings Dip 34.5% in Q2 From Device Recall Costs

Spinal Tech

Stryker's net earnings dropped 34.5 percent in the second quarter, despite increased sales over the same period last year. The company reported $213 million in net earnings this past quarter, compared to $325 million in 2012. The drop was due largely to a $170 million charge from the voluntary recalls of the Rejuvenate and ABG II modular-neck hip stems.

Net sales reached $2.2 billion, up from $2.1 billion last year. Sales from spine and neurotechnology devices increased 5.4 percent from $393 million to $414 million.

More Articles on Devices:
ulrich medical releases uCerv Interbody Spine Device for US Markets
Medtronic to Market Amgen's Prolia Spine Device for Women at Risk of Osteoporosis-Related Fractures
8 Recent Leadership & Executive Moves at Spine, Orthopedic Device Companies

Copyright © 2022 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.

 

Featured Webinars

Featured Podcast

Featured Whitepapers