Johnson & Johnson reported a dip in worldwide orthopedics sales for the first quarter of 2019.
Five things to know:
1. Johnson & Jonson reported orthopedic sales dropped 2.1 percent in the first quarter, hitting $2.2 billion. While the U.S. sales were up 0.9 percent at $1.3 billion, international sales declined 6.2 percent to $885 million.
2. Hip sales were relatively flat in the first quarter, dropping just 0.4 percent to $361 million. International hip sales were down 3.8 percent while U.S. hip sales climbed 2.1 percent, hitting $213 million.
3. Knee sales dropped 4.7 percent worldwide to $369 million, with international sales dropping 8.2 percent and U.S. sales declining 2.2 percent to $223 million. U.S. sales were driven by Attune Revision system sales.
4. Orthopedic trauma sales were up 2.5 percent in the U.S. at $417 million, but international trauma sales dropped 7 percent. Overall, orthopedic trauma sales were down 1.4 percent to $685 million.
5. Johnson & Johnson's spine and other sales were down 5.5 percent internationally and flat in the U.S., hitting $465 million. The company reported a 2.2 percent drop in worldwide spine and other sales, reporting $788 million for the quarter.
"We continue to see stabilization of performance driven by new products such as the VIPER PRIME system for minimally invasive surgery and Expedium Verse, our all-in-one pedicle screw system for deformity," said Chris DelOrefice, vice president of investor relations, during the first quarter conference call and transcribed by Seeking Alpha.