The company also reported a trading profit of $278 million, a growth of 9 percent over last year. The company can contribute its success to strong trading in the global knee, trauma and sports medicine markets. The company has also aimed to improve inventory management in orthopedics and decreased its net debt during the fourth quarter to $492 million.
Revenues from the orthopedics business were reported as $584 million, a 5 percent increase over last year. Revenues declined by 1 percent in the U.S. and by 4 percent in Europe but grew by 3 percent in the rest of the world.
Orthopedic reconstruction revenues also grew by 5 percent during the fourth quarter. The global knee franchise grew by 10 percent, and the global hip sales grew by 1 percent. The success of the company’s knee market can be attributed to sales of the VERILAST, which includes an FDA-approved 30-year wear claim and the VISONAIRE patient matched instrumentation sets.
The orthopedic trauma revenues also grew by 10 percent during the fourth quarter to $65 million.
Read the Smith & Nephew news release on the 4Q FY 2010 financial report.
Read other coverage on Smith & Nephew:
– Smith & Nephew CEO David Illingworth to Retire in April
– Smith & Nephew: Potential Buyers Would Pay $15.6B
– Smith & Nephew Denies Discussion of Mergers or Takeovers
