Stryker reports strong growth in Q1 2012

Stryker has announced strong year-on-year growth figures for the first quarter of 2012, recording a 7.2 percent rise in reported net sales.

The medical technology firm's revenue total for the period came to $2.2 billion (1.36 billion pounds), with growth seen across its reconstructive, MedSurg and neurotechnology and spine business units.

According to Curt Hartman, interim chief executive officer (CEO), vice-president and chief financial officer at Stryker, the company's sales and earnings increases are indicative of the momentum seen on a product and geographic level.

For the full year, Stryker expects to experience further double-digit increases in terms of earnings, though sales may be impacted by foreign currency exchange rates.

Mr Hartman said: "Our focus remains on internally-driven innovation, strategic acquisitions and our ongoing commitment to both quality and operating efficiencies while optimising capital allocation through share buybacks and dividends."

The firm remains on the lookout for a new CEO following the departure of Stephen MacMillan in February 2012.