Stryker 3rd-quarter net profit falls due to recalls as sales rise

Reuters

Oct 17 (Reuters) - U.S. orthopedic implant maker StrykerCorp on Thursday said quarterly net profit fell 70percent as charges for recalled products offset higher sales ofits hip, knee and spine products.

The company reported a third-quarter net profit of $103million, or 27 cents per share. Net sales for the quarter roseto $2.15 billion from $2.05 billion a year earlier.

Excluding items such as recall and restructuring charges,Stryker earned 98 cents per share. Wall Street analysts, onaverage, expected 99 cents per share, according to ThomsonReuters I/B/E/S.

For the full year, the company said it still expects aprofit in the range of $4.20 to $4.26 a share.

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