Stryker Corporation announced operating results from the fourth quarter and full year of 2017.
“As pre-announced, we delivered excellent organic sales growth of over 8% in the fourth quarter, capping off a strong year for Stryker,” Kevin A. Lobo, chairman and CEO, said in a company press release. “We expect our positive momentum to continue in 2018 with another year of strong organic sales growth and leveraged adjusted earnings gains.”
In the fourth quarter, net sales increased 10% to $3.5 billion. For the full year, the net sales increased 9.9% to 12.4 billion. Net sales for orthopedics increased 8.1% to $1.3 billion in the fourth quarter and increased 6.6% to $4.7 billion for the full year 2017. Fourth-quarter and full-year net sales increased 6.8% and 6.5% in constant currency, respectively.
In the fourth quarter, the net sales for neurotechnology and spine increased 11.5% to $0.6 billion and the net sales for the full year increased 8.2% to $2.2 billion. The net sales for the quarter and full year increased 10.3% and 8.3% in constant currency.
There was a 148.9% decrease in reported net earnings in the quarter to a $249 million net loss. In the full year, the reported net earnings decreased 38.1%. In the quarter, there was a 149.3% decrease in the reported net earnings per diluted share to a $0.66 net loss per diluted share. The full-year reported net earnings per diluted share decreased to $2.68, a 38.4% decrease.
Stryker anticipates the 2018 organic sales growth will be between 6% and 6.5%. It expects the adjusted net earnings per diluted share to be between $1.57 and $1.62 in the first quarter and between $7.07 and $7.17 in the full year.