Stryker announced net earnings in the first quarter of fiscal year 2014 reached $70 million, down from the same period in 2013, when its net earnings were $304 million.
The company also announced a gross profit of $1.53 billion in Q1, up from $1.47 billion in first quarter of 2013.
Its neurotechnology and spine business saw net sales of $420 million, up from $397 million in the same period last year. Net sales growth was attributed to increased unit volume and changes in product mix as well as an acquisitions.
"Our continued investments in internal innovation, coupled with our recent acquisitions, position us well to meet our customers' evolving needs," said Kevin A. Lobo, president and CEO.
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