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Meldungen 10.02.2017

Stryker: 2016 Results

Stryker meldet ein starkes Wachstum in 2016. Lesen Sie dazu die Mitteilung des auf Medizintechnik spezialisierten US-Konzerns, die wir im Wortlaut veröffentlichen. Die ECOreporter-Favoriten-Aktie  ist ein nachhaltiger Dividendenkönig.

Die untenstehende Meldung ist eine Original-Meldung des Unternehmens. Sie ist nicht von der ECOreporter.de-Redaktion bearbeitet. Die presserechtliche Verantwortlichkeit liegt bei dem meldenden Unternehmen. 

Kalamazoo, Michigan - Stryker Corporation (NYSE:SYK) reported 2016 operating results for the fourth quarter and full year and 2017 outlook:

Fourth Quarter Highlights
Net sales grew 16.2% to $3.2 billion (16.8% constant currency)
Orthopaedics     5.3     %     or     5.7% constant currency
MedSurg     31.1     %     or     32.1% constant currency
Neurotechnology and Spine     8.7     %     or     8.6% constant currency

Reported net earnings per diluted share decreased 2.9% to $1.34
Adjusted net earnings per diluted share(1) increased 14.1% to $1.78

Full Year Highlights
Net sales grew 13.9% to $11.3 billion (14.3% constant currency)
Orthopaedics     4.7     %     or     5.1% constant currency
MedSurg     25.6     %     or     26.3% constant currency
Neurotechnology and Spine     9.9     %     or     9.8% constant currency

Reported net earnings per diluted share increased 15.1% to $4.35
Adjusted net earnings per diluted share(1) increased 13.3% to $5.80

"I am pleased with our performance in both the fourth quarter and the full year 2016," said Kevin A. Lobo, Chairman and Chief Executive Officer. "Fourth quarter organic sales growth of 6.7% versus a strong prior year is impressive and was balanced across Orthopaedics, MedSurg and Neurotechnology and Spine. In addition, we executed well on acquisitions and delivered leveraged adjusted earnings gains. We enter 2017 with good momentum across our businesses and look forward to building on this success."

Sales Analysis

Consolidated net sales of $3.2 billion and $11.3 billion increased 16.2% and 13.9% as reported in the quarter and full year and 16.8% and 14.3% in constant currency, as foreign currency exchange rates negatively impacted net sales by 0.6% and 0.4%. Excluding the 10.1% and 7.9% impact of acquisitions, net sales increased 6.7% and 6.4% in constant currency, including 8.2% and 7.8% from increased unit volumes partially offset by 1.5% and 1.4% in lower prices. The acquisitions of Sage Products LLC and Physio-Control International, Inc., contributed $258 million and $740 million to our consolidated net sales in the quarter and full year.

Orthopaedics net sales of $1.2 billion and $4.4 billion increased 5.3% and 4.7% as reported in the quarter and full year and 5.7% and 5.1% in constant currency, as foreign currency exchange rates negatively impacted net sales by 0.4% in both periods. Excluding the 0.4% and 0.3% impact of acquisitions, net sales increased 5.3% and 4.8% in constant currency, including 7.8% and 6.9% from increased unit volumes partially offset by 2.5% and 2.1% in lower prices.

MedSurg net sales of $1.4 billion and $4.9 billion increased 31.1% and 25.6% as reported in the quarter and full year and 32.1% and 26.3% in constant currency in the quarter and full year, as foreign currency exchange rates negatively impacted net sales by 1.0% and 0.7%. Excluding the 23.8% and 19.1% impact of acquisitions, net sales increased 8.3% and 7.2% in constant currency, including 8.9% and 7.8% from increased unit volumes partially offset by 0.6% in lower prices in both periods.

Neurotechnology and Spine net sales of $526 million and $2.0 billion increased 8.7% and 9.9% as reported in the quarter and full year and 8.6% and 9.8% in constant currency, as foreign currency exchange rates positively impacted net sales by 0.1% in both periods.  Excluding the 1.9% and 1.4% impact of acquisitions, net sales increased 6.7% and 8.4% in constant currency, including 8.1% and 9.8% from increased unit volumes partially offset by 1.4% in lower prices in both periods.

Earnings Analysis

Reported net earnings decreased 2.3% in the quarter to $510 million and increased 14.5% to $1.6 billion in the full year. Reported net earnings per diluted share decreased 2.9% in the quarter to $1.34 and increased 15.1% to $4.35 in the full year. Reported net earnings includes charges for the amortization of purchased intangible assets, restructuring-related activities, Rejuvenate and ABG II recall, acquisition and integration related activities and certain tax matters. The effect of each of these matters on reported net earnings and net earnings per diluted share appears in the reconciliation of actual results to adjusted results. Excluding the impact of these charges increases gross profit margin in the quarter from 66.1% to 66.3% and for the full year from 66.2% to 66.6% and increases operating income margin in the quarter from 20.9% to 27.7% and for the full year from 19.1% to 25.5%.

Excluding the impact of the items described above, adjusted net earnings(2) of $675 million and $2.2 billion increased 14.2% and 12.6%, in the quarter and full year. Adjusted net earnings per diluted share(1) of $1.78 and $5.80 increased 14.1% and 13.3% in the quarter and full year.

2017 Outlook

We expect 2017 organic sales growth to be in the range of 5.5% to 6.5% and adjusted net earnings per diluted share(3) to be in the range of $1.40 to $1.45 in the first quarter and $6.35 to $6.45 in the full year. If foreign currency exchange rates hold near current levels, we expect net sales in the first quarter and full year to be negatively impacted by approximately 1.0% and adjusted net earnings per diluted share to be negatively impacted by approximately $0.03 to $0.04 in the first quarter and $0.10 to $0.12 in the full year.  On January 1, 2017 we adopted the updated accounting guidance required by ASU 2016-09 Stock Compensation. If our share price remains at current levels and stock option exercises remain at historical levels we expect the changes in accounting for excess tax benefits on stock compensation to positively impact net earnings per diluted share by approximately $0.07 to $0.09 in the full year, about half of which we expect in the first quarter.

(1) A reconciliation of reported net earnings per diluted share to adjusted net earnings per diluted share, a non-GAAP financial measure, and other important information, appears below.
(2) A reconciliation of reported net earnings to adjusted net earnings, a non-GAAP financial measure, and other important information, appears below.
(3) A reconciliation of expected net earnings per diluted share to expected adjusted net earnings per diluted share for the first quarter and full year and other important information appears below.

For investor inquiries please contact:
Katherine A. Owen, Stryker Corporation, 269-385-2600 or katherine.owen@stryker.com

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