stryker corp (SYK) Key Developments
Stryker Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Provides Earnings Guidance for the Third Quarter and Full Year of Fiscal 2015
Jul 23 15
Stryker announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. The company reported second quarter net income of $392 million or $1.03 per diluted share, compared with the prior-year period's $128 million or $0.33 per diluted share. Adjusted net income was $458 million or $1.20 per share, ex one-time items, versus $415 million or $1.08 in the same quarter the previous year. Revenue was $2.43 billion, up 2.9% from $2.36 billion in the same quarter last year, net sales were negatively impacted by 4.7% due to the impact of foreign currency exchange rates. Excluding the 0.7% impact of acquisitions, net sales in the quarter increased 6.9% in constant currency, including 8.7% from increased unit volume partially offset by 1.8% lower prices. Operating income was $429 million against $197 million a year ago. Earnings before income taxes were $401 million against $167 million a year ago. Adjusted operating income was $579 million against $565 million a year ago.
For the six months, the company reported net sales were $4,811 million against $4,668 million a year ago. Operating income was $835 million against $328 million a year ago. Earnings before income taxes were $778 million against $274 million a year ago. Net earnings were $616 million against $198 million a year ago. Diluted earnings per share were $1.61 against $0.51 a year ago. Net cash provided by operating activities was $737 million against $579 million a year ago. Purchases of property, plant and equipment was $114 million against $124 million a year ago. Adjusted operating income was $1,134 million against $1,121 million a year ago. Adjusted net earnings were $882 million against $819 million a year ago. Adjusted diluted earnings per share were $2.31 against $2.14 a year ago.
For the third quarter of 2015, the company sees adjusted EPS of $1.20 - $1.25.
The company expects fiscal 2015 adjusted EPS of $5.06 - $5.12. It sees constant currency sales growth in the range of 6.5% to 7.5% for the year, including organic sales growth in the range of 5.5% to 6.5%. The company also expects expect sales in the third quarter and fiscal 2015 to be negatively impacted by 3.5% to 4.0% and adjusted diluted net earnings per share to be negatively impacted by approximately $0.25 in the full year. Capital expenditures are expected to run higher than last year as move through 2015.
Stryker Corporation to Report Q2, 2015 Results on Jul 23, 2015
Jun 22 15
Stryker Corporation announced that they will report Q2, 2015 results at 4:00 PM, US Eastern Standard Time on Jul 23, 2015
LaunchPad Medical Executes Definitive License Agreement with Stryker for Novel Bone Adhesive Technology
Jun 2 15
LaunchPad Medical, LLC announced that it has entered into a definitive agreement to license Stryker Corporation's bone adhesive technology, which is based on a unique synthetic biomaterial. Under the terms of the agreement, LaunchPad has received an exclusive worldwide license from Stryker for this technology which is covered by four issued and three pending U.S. patents and includes data from multiple pre-clinical animal studies. LaunchPad will seek to commercialize this technology for use in repairing damaged teeth and bones. No financial terms of the transaction were disclosed.
Stryker Corporation Presents at Jefferies 2015 Global Healthcare Conference, Jun-02-2015 11:00 AM
May 16 15
Stryker Corporation Presents at Jefferies 2015 Global Healthcare Conference, Jun-02-2015 11:00 AM. Venue: The Grand Hyatt Hotel, New York, New York, United States.
Stryker Corporation Presents at Bank of America Merrill Lynch 2015 Health Care Conference, May-12-2015 08:00 AM
May 5 15
Stryker Corporation Presents at Bank of America Merrill Lynch 2015 Health Care Conference, May-12-2015 08:00 AM. Venue: Encore at the Wynn, 3131 S Las Vegas Blvd, Las Vegas, Nevada, United States. Speakers: William R. Jellison, Chief Financial Officer and Vice President.