Printer Friendly

STRYKER PROFITS UP 27 PERCENT FOR QUARTER ENDED SEPT. 30, 1993

 KALAMAZOO, Mich., Oct. 15 /PRNewswire/ -- Stryker Corporation (NASDAQ-NMS: STRY) reported today that net sales for the third quarter ended Sept. 30, 1993, were $136,932,000, representing a 17-percent increase over sales of $117,377,000 in the third quarter of 1992. Net earnings for the quarter increased 27 percent to $13,990,000 from $11 million in 1992 and net earnings per share increased 26 percent to $.29 from $.23.
 During the first nine months of 1993 net sales increased 19 percent to $412,146,000 from $347,051,000 for the same period last year. Net earnings were $42,440,000, equal to $.88 per share, compared to $33,080,000, or $.69 per share, in 1992, representing a 28-percent increase in net earnings and net earnings per share.
 Sales of Surgical products increased 13 percent in the third quarter and 16 percent for the first nine months of 1993 compared to 1992. The leading Surgical sales gains came from orthopaedic implants and powered surgical instruments.
 Sales of Medical products increased 36 percent in the third quarter and 30 percent for the first nine months of 1993 compared to 1992. The Medical sales gain resulted from increased shipments of patient care and patient handling equipment and increased revenues from physical therapy services.
 International sales increased 34 percent in the third quarter, led by Osteonics orthopaedic implant sales by the company's Pacific Division and Dimso spinal implant sales by all the company's international divisions. International sales were 34 percent of total sales in the first nine months of 1993 compared to 31 percent in 1992.
 Stryker Corporation develops, manufactures and markets specialty surgical and medical products including orthopaedic implants, powered surgical instruments, endoscopic systems and patient handling equipment for the global market. Its shares are traded in the over-the-counter market on the NASDAQ National Market System under the symbol STRY.
 STRYKER CORPORATION
 THIRD-QUARTER RESULTS
 1993 1992 Percent
 Change
 Sales $136,932,000 $117,377,000 17
 Pre-tax earnings 22,565,000 17,750,000 27
 Net earnings 13,990,000 11,000,000 27
 Net earnings per share .29 .23 26
 Average shares outstanding 48,373,000 47,682,000 1
 NINE MONTHS ENDED SEPT. 30
 1993 1992 Percent
 Change
 Sales $412,146,000 $347,051,000 19
 Pre-tax earnings 68,415,000 53,360,000 28
 Net earnings 42,440,000 33,080,000 28
 Net earnings per share .88 .69 28
 Average shares outstanding 48,349,000 47,665,000 1
 -0- 10/15/93
 /CONTACT: David J. Simpson, vice president, chief financial officer and secretary of Stryker Corporation, 616-385-2600/
 (STRY)


CO: Stryker Corporation ST: Michigan IN: MTC HEA SU: ERN

JG -- DE003 -- 2593 10/15/93 08:41 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Oct 15, 1993
Words:453
Previous Article:KELLOGG COMPANY REPORTS RECORD THIRD-QUARTER EARNINGS PER SHARE OF 90 CENTS
Next Article:GERRITY OIL & GAS DECLARES DIVIDEND
Topics:

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters