After some growth in the last quarter of 2010, Stryker's sales in hip and knee replacements were flat in the first quarter of 2011, although the company reported $2.02 billion in net sales, a 12 percent increase over the first quarter of 2010, according to a company news release.
But a new sales category for Stryker's spinal and neurovascular devices posted a 48 percent sales growth. Knee sales decreased by 2 percent while hip sales rose by 2 percent. The company attributed the sagging knee sales to an overall sales decline and not a loss in market share.
The company's MedSurg unit, selling surgical equipment, hospital beds and stretchers, posted a 13 percent sales gain. The company's overall profits, however, were down 4.4 percent, due to acquisition and integration-related charges.
On the orthopedic front, Stryker remains "cautious regarding the market pending evidence of a sustained improvement in the economic environment," said Katherine Owen, vice president of strategy and investor relations, in a Wall Street Journal report.
In January, the company closed on its $1.5 billion purchase of Boston Scientific's neurovascular business.
Read the release on the annual report for Stryker.
Read more coverage of sales of orthopedic and spine devices:
- Centinel Spine Reports 47% Increase in Q1 Sales
- Biomet Announces 3Q Net Loss of $11.6M
- RSB Spine Announces 145% Sales Increase in Q1
But a new sales category for Stryker's spinal and neurovascular devices posted a 48 percent sales growth. Knee sales decreased by 2 percent while hip sales rose by 2 percent. The company attributed the sagging knee sales to an overall sales decline and not a loss in market share.
The company's MedSurg unit, selling surgical equipment, hospital beds and stretchers, posted a 13 percent sales gain. The company's overall profits, however, were down 4.4 percent, due to acquisition and integration-related charges.
On the orthopedic front, Stryker remains "cautious regarding the market pending evidence of a sustained improvement in the economic environment," said Katherine Owen, vice president of strategy and investor relations, in a Wall Street Journal report.
In January, the company closed on its $1.5 billion purchase of Boston Scientific's neurovascular business.
Read the release on the annual report for Stryker.
Read more coverage of sales of orthopedic and spine devices:
- Centinel Spine Reports 47% Increase in Q1 Sales
- Biomet Announces 3Q Net Loss of $11.6M
- RSB Spine Announces 145% Sales Increase in Q1