Stryker reports 11% increase in net sales

STRYKER, the US medical equipment manufacturer, which employs about 2,000 people in Ireland, has reported an 11% year-on-year increase in fourth quarter net sales, to $2.2bn (€1.7bn); adding that its earnings per share, for 2011, are likely to meet market expectations of between $3.72 and $3.74.

The Michigan-headquartered company, which makes orthopaedic implants and instruments, added that, on a constant currency basis, it expects to increase group sales by between 3.5% and 6.5% in 2012; saying that if foreign currency exchange rates hold steady at current levels, net sales will be impacted, either positively or negatively, by around 0.5% in the first quarter of the year.

“As we build on the accomplishments of 2011, we believe we are well positioned to deliver solid sales and earnings growth in 2012 through a combination of leveraging our acquisitions, while also continuing to deliver new products stemming from internal innovation,” said the company’s chairman, president and chief executive, Stephen P MacMillan.

“Our 2011 financial results underscore the strength of our unique sales footprint, which reflects balanced diversification both geographically and across a range of key segments of medical technology. As a result, we delivered solid top line growth despite the continued challenges presented by the global economy, as we leveraged a series of strategic acquisitions along with new products reflecting our ongoing commitment to internal innovation,” he added.

Last summer, Stryker said it would be cutting more than 140 jobs in its Irish operations over the coming four years, as it consolidates two of its manufacturing facilities — both in Carrigtwohill, Co Cork — into one. The company has been operating three manufacturing outlets in Ireland, with the other one based in Limerick.