Stryker Beats Revenue Estimates (SYK)
Tue. October 20, 2009; Posted: 04:26 PM
Oct 20, 2009 (SmarTrend(R) News Watch via COMTEX) --
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PowerRating -- 10/20/2009 - Stryker (NYSE:SYK) reported fiscal Q3 EPS of 69 cents, inline with the consensus estimates. Revenues were flat year-over-year at $1.65 billion, topping the consensus estimates of $1.62 billion. President and CEO Stephen P. MacMillan said, "We are pleased to deliver solid results in a challenging environment with all of our orthopaedic implant businesses posting accelerated worldwide revenue growth, led by strong performances in the U.S. In addition, both our Endoscopy and Medical franchises showed a modest rebound with sequentially higher sales over the second quarter of 2009 despite continued softness in hospital spending." The company expects full-year 2009 EPS of $2.90 to $3.00, vs. the consensus estimates of $2.94.
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