Financial Results

Stryker Corporation has reported its operating results for the second quarter of 2012 with net sales of $2.1 billion, up 2.9%. Neurotechnology and Spine divisional sales showed greatest percentage growth, although all divisions were up over the equivalent quarter a year ago.

Abbott has announced its financial results for the second quarter ended June 30, 2012. Reported sales increased 2.0 percent, including an unfavourable 4.7 percent effect of foreign exchange. Stent sales suffered due to the wind-down of the supply arrangement with Boston Scientific, but recent Xience news gives reason for optimism.

St. Jude Medical, Inc. has reported sales and net earnings for the second quarter ended June 30, 2012. Compared with the equivalent period a year ago net sales of $1.410 billion represented a decrease of 2 percent, declines in Cardiac Rhythm Management sales being somewhat offset by increases in Atrial Fibrillation and Neuromodulation revenues.

Johnson & Johnson has just announced sales of $16.5 billion for the second quarter of 2012, a decrease of 0.7% as compared to the second quarter of 2011, albeit with a significant currency loss painting a gloomier picture than the top line figures suggest.

In the same week that the device giant Medtronic announced better than expected financial results including headline items like a 28% year-on- year quarterly earnings increase, it has also been revealed that the company is to shed around 1000 jobs.

It’s a solid set of figures with some genuine highlights, not least the OUS sales increase and positive results from some key new product introductions and acquisitions. Medtronic is sounding pretty upbeat and putting a few bad experiences behind it.

Covidien looks to be pressing all the right buttons as its year-on-year quarterly picture suggests sales are increasing while margins are also being driven up.

Given the furore, it’s no surprise that St.Jude’s Cardiac Rhythm Management sales dipped in Q1 2012. While overall company sales grew, the net effect on the bottom line was a reduction from $233M to $212M compared with the equivalent quarter a year ago.

Stryker’s financial report for Q1 looks pretty rosy as sales and profits climb nicely. Projections are pretty conservative though with anticipated sales growth of 2-5% for the year.

Sorin’s Valve and CardioPulmonary Businesses were dragged down by Rhythm management, but overall 2011 sales held up and profits soared.

Orthofix’s financials are solid if unspectacular with healthy revenue growth in orthopaedics and sports medicine its shining stars.

Challenges for Integra as sales grows at slower rate than costs.

Solid figures, but it’s not quite all good news at Medtronic as sales in some divisions suffer, especially in USA.

Despite losing Hemostase revenue, Cryolife has reported record Q4 and significant annual revenue growth, giving it optimistic outlook for the near term as it enacts global strategic initiatives.

Smith & Nephew’s 2011 was pretty good according to its financials and the company is getting a handle on its costs, suggesting a strong 2012, albeit at the expense of further job losses.

Abbott Laboratories has announced that it will lay off 700 employees as part of ongoing restructuring efforts, 300 of the redundancies coming from the company’s Stent Division in Southern California.