Stryker Corp. (NYSE: SYK) reported Q4 EPS of $1.23, $0.01 better than the analyst estimate of $1.22. Revenue for the quarter came in at $2.47 billion versus the consensus estimate of $2.44 billion.
Stryker Corp. sees FY2014 EPS of $4.75-$4.90, versus the consensus of $4.58. Organic sales growth in 2014 is expected to be in the range of 4.5% to 6.0%. If foreign currency exchange rates hold near current levels, we expect net sales in the first quarter and full year of 2014 to be negatively impacted by less than 1.0%.
Not a beat on guidance. Until this year, SYK included the costs of amortization of intangibles in their reported guidance and earnings. In 2014 they will. This would have added $0.26/sh of eps to 2013. When you put their guidance and analysts previous consensus on the same basis, analysts were expecting $4.58+$0.26 = $4.84/share. Right in the middle of the guidance range.