stryker corp (SYK) Key Developments
Stryker Corporation Announces Board Changes
Jul 22 14
Stryker Corporation announced that Kevin A. Lobo, President and Chief Executive Officer, has been appointed Chairman of the Board, in addition to his current responsibilities, effective July 22, 2014. William U. Parfet, Stryker's Non-Executive Chairman, will again assume the role of Lead Independent Director. Mr. Lobo joined Stryker in April 2011 and served as Group President of Stryker Orthopaedics prior to his appointment as President and Chief Executive Officer in October, 2012.
Stryker Corporation Declares Quarterly Dividend, Payable on October 31, 2014
Jul 21 14
Stryker Corporation announced that its Board of Directors has maintained a dividend consistent with that of the prior quarter, by declaring a quarterly dividend of $0.305 per share payable on October 31, 2014, to shareholders of record at the close of business on September 30, 2014. This represents an increase of 15% compared to the prior year.
Stryker Corporation Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Provides Earnings Guidance for the Third Quarter and Full Year 2014 and Full Year 2015
Jul 17 14
Stryker Corporation reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company's net sales rose 6.8% year over year to $2.4 billion. GAAP net income rose $215 million, or $0.56 per share, up 0.9% over the year-ago profit of $213 million. Excluding one-time items, including charges related to product recalls of its Rejuvenate and ABG II artificial hips as well as its Neptune waste-fluid collector system, along with litigation and restructuring charges, its adjusted net income rose to $415 million, or $1.08 per share. Operating income was $307 million against $290 million a year ago. Earnings before income taxes were $277 million against $269 million a year ago. Net cash provided by operating activities was $366 million against $356 million a year ago. Purchases of property, plant and equipment was $54 million against $47 million a year ago. Adjusted operating income was $565 million against $552 million a year ago.
For the six months, the company's net sales were $4,668 million against $4,402 million a year ago. Operating income was $438 million against $676 million a year ago. Earnings before income taxes were $384 million against $644 million a year ago. Net earnings were $285 million or $0.74 diluted per share against $517 million or $1.35 diluted per share a year ago. Net cash provided by operating activities was $572 million against $592 million a year ago. Purchases of property, plant and equipment was $124 million against $96 million a year ago. Adjusted operating income was $1,121 million against $1,086 million a year ago. Net earnings were $819 million or $2.14 diluted per share against $823 million or $2.16 diluted per share a year ago.
For the third quarter 2014, the company projects adjusted EPS of $1.12 to $1.16, excluding amortization of intangible assets.
For the full year 2014, the company projects adjusted EPS of $4.75 to $4.80. Revenue is seen growing 5% to 6% over year-ago levels, excluding amortization of intangible assets.
For the full year 2015, the company expects effective tax rate to improve by roughly 2 percentage points or $0.10 to $0.15 per share.
Stryker Announces Earnings Results for the First Quarter of 2014
Jun 18 14
Stryker announced earnings results for the first quarter of 2014. For the quarter, the company reported $1.06 earning per share compared to $1.03 earnings per share reported in the same period last year. The company had revenue of $2.31 billion for the quarter. The company's quarterly revenue was up 5.3% on a year-over-year basis.
Stryker Corporation to Report Q2, 2014 Results on Jul 17, 2014
Jun 12 14
Stryker Corporation announced that they will report Q2, 2014 results at 4:00 PM, US Eastern Standard Time on Jul 17, 2014