Stryker reports year-on-year growth for first quarter of 2013

Stryker has published its financial results for the first three months of 2013, during which it achieved a quarterly consolidated sales total of $2.2 billion (1.43 billion pounds).

This represented a year-on-year increase of 1.3 percent, with the performance of Stryker's reconstructive, MedSurg and neurotechnology and spine businesses all rising compared to Q1 2012.

Although the positive impact of increased unit volumes and product mix alterations were offset somewhat by changes in price and unfavourable foreign currency exchange rates, the company still expects to achieve sales growth of between three and 5.5 percent over the course of the full year.

Kevin Lobo, president and chief executive officer at Stryker, said: "We delivered a solid sales and earnings performance and expect this momentum to continue throughout 2013."

Earlier this month, Stryker announced the appointment of William Jellison as its new chief financial officer and vice-president, giving him responsibility over the company's finance and IT functions.