On a constant currency basis, net sales increased 2.5 percent for the fourth quarter and 1.7 percent for the year. Domestic sales were $1.159 billion for the fourth quarter and $4.317 billion for the year ended Dec. 31, 2009, representing increases of 2.7 percent and 0.8 percent over 2008, respectively.
Due to an outstanding patent infringement lawsuit that was settled in the fourth quarter of 2009, Stryker will record a gain of $63 million, according to the release. The company also repatriated $787 million of foreign earning to the United States, which was used to fund the acquisition of Ascent Healthcare and used for other previously announced initiatives.
The company also reported an increase of international sales of 14.6 percent in the fourth quarter, but a decrease of 1.2 percent for the year ended Dec. 31, 2009, according to the release. Worldwide sales of orthopedic implants increased of 9.7 percent for the fourth quarter and 3.8 percent for the year ended Dec. 31, 2009. Worldwide sales of medsurg equipment increased 2.5 percent for the fourth quarter but decreased 5.4 percent for the year ended Dec. 31, 2009, according to the release.
The financial forecast for 2010 includes a constant currency net sales increase of 5 percent to 8 percent as a result of growth in shipments of orthopedic implants and medsurg equipment, according to the release. If foreign currency exchange rates hold near current levels, Stryker anticipates net sales will be favorably impacted by approximately 4 percent to 5 percent in the first quarter of 2010 and by approximately 1.5 percent to 2.5 percent for the full year of 2010.
Read the release on Stryker’s fourth quarter results.
