Stryker's 2015 net earnings soar 100%; Net sales reach $9.9B: 10 things to know

Spinal Tech

Stryker reported strong organic net sales in 2015 as well as a net sales increase in the fourth quarter.

Here are 10 things to know about the company's 2015 financial results:


1. Stryker reported 3.7 percent net sales growth in the fourth quarter to $2.7 billion. The full year net sales growth was 2.8 percent to $9.9 billion.


2. Orthopedics sales were up 3.3 percent in the fourth quarter, reaching $1.1 billion. In the full year, orthopedics sales hit $4.2 billion, a 1.7 percent increase over 2014.


3. Stryker's MedSurg line net sales were up 3 percent for the fourth quarter and full year. In the fourth quarter, the company reported $1.1 billion net sales and in the full year the MedSurg net sales hit $3.9 billion.


4. Spine and nanotechnology sales hit $483 million in the fourth quarter, up 6.5 percent over the same period last year. Full year spine and nanotechnology sales jumped 5 percent to $1.8 billion.


5. The reported net earnings increased 100.8 percent in the fourth quarter, hitting $522 million, and 179 percent in the full year, reaching $1.4 billion.


6. Stryker expects 2016 sales growth of 5 percent to 6 percent and adjusted net earnings per diluted share to reach $1.17 to $1.22 in the first quarter. For the full year, the company expects adjusted net earnings per diluted share to reach $5.50 to $5.70.


7. Sales in the United States were up 8.4 percent to $7.1 billion. International sales fell, however, 6.9 percent to $2.8 billion in the fourth quarter.


8. Stryker's orthopedics specialty lines reported fourth quarter sales at:


• Knee: up 4.7 percent to $380 million
• Hip: down 1.9 percent to $324 million
• Trauma and extremities: up 4.6 percent to $350 million
• Other: up 12.9 percent to $91 million
• Spine: up 1.3 percent to $194 million


9. For the full year, sales in the orthopedics specialties hit:


• Knee: up 0.5 percent to $1.4 billion
• Hip: down 2.1 percent to $1.2 billion
• Trauma and extremities: up 4.9 percent to $1.2 billion
• Other: up 13 percent to $266 million
• Spine: up 0.2 percent to $740 million


10. Organic sales were up 6.1 percent, with top line results coming in above the initial guidance.


"The performance reflects the strength of our diversification revenue model, a commitment to innovation and the competitive advantage of our sales and marketing organizations," said Kevin A. Lobo, chairman and CEO. "Our full year adjusted diluted EPS also exceeded our initial expectation, underscoring our commitment to delivering sales growth at the high end of med tech and leveraged earnings gains. With these results and the current momentum across our businesses, we feel well positioned heading into 2016."


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