Stryker's First Quarter Sales Rise, but Earnings Drop Because of Acquisition and Recall Charges

6:16 am
Thu April 24, 2014

Stryker's First Quarter Sales Rise, but Earnings Drop Because of Acquisition and Recall Charges

Lead in text: 
Stryker completed two acquisitions of California-based companies in first quarter
  • Source: Mlive
  • | Via: Kalamazoo Gazette
KALAMAZOO, MI - Charges associated with product recalls and acquisitions of other companies resulted in a big drop in first-quarter net earnings for medical products company Stryker Corp. The Kalamazoo-based company reported net earnings of $70 million, a 77-percent decrease from first quarter 2013, with diluted net earnings per share of 18 cents, reflecting a 77.2 percent drop from diluted per-share earnings during the first quarter a year ago.