Stryker 4Q, 2012 revenue top Wall Street's view

Stryker 4th-quarter, 2012 revenue results beat analysts' expectations

Associated Press

KALAMAZOO, Mich. (AP) -- Stryker's fourth-quarter and full-year revenue topped Wall Street expectations Wednesday, driven by its MedSurg medical equipment business and neurotechnology and spine business.

The company raised the low end of its full-year adjusted earnings forecast slightly and gave a 2013 revenue outlook above analysts' estimates.

Stryker reported $2.3 billion in revenue for the quarter. Analysts polled by FactSet predicted revenue of $2.27 billion.

For the year, the Kalamazoo, Mich. company's revenue totaled $8.7 billion. Wall Street forecast $8.59 billion.

MedSurg revenue climbed 2.4 percent in the quarter and rose 3.3 percent for the year. Neurotechnology and spine revenue increased 9.7 percent for the quarter and gained 9.2 percent for the full year.

Stryker Corp. now foresees full-year adjusted earnings between $4.05 and $4.07 per share. Its previous guidance was for earnings in a range of $4.04 to $4.07 per share.

Analysts expect earnings of $4.05 per share.

For 2013, the company still anticipates adjusted earnings of $4.25 to $4.40 per share. Revenue is expected to climb 3 percent to 5.5 percent from 2012's $8.7 billion, which implies $8.96 billion to $9.14 billion.

Wall Street forecasts earnings of $4.31 per share on revenue of $8.92 billion.

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