KALAMAZOO, Mich. (AP) _ Stryker Corp. (SYK) on Tuesday reported fourth-quarter net income of $2.07 billion, after reporting a loss in the same period a year earlier.
The Kalamazoo, Michigan-based company said it had net income of $5.44 per share. Earnings, adjusted for non-recurring gains, were $2.18 per share.
The results beat Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of $2.15 per share.
The medical device maker posted revenue of $3.8 billion in the period, which also topped Street forecasts. Twelve analysts surveyed by Zacks expected $3.73 billion.
For the year, the company reported profit of $3.55 billion, or $9.34 per share. Revenue was reported as $13.6 billion.
For the current quarter ending in April, Stryker expects its per-share earnings to range from $1.80 to $1.85. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.84.
The company expects full-year earnings in the range of $8 to $8.20 per share.
Stryker shares have risen nearly 3 percent since the beginning of the year, while the Standard & Poor's 500 index has increased slightly more than 5 percent. In the final minutes of trading on Tuesday, shares hit $161.07, a decrease of almost 5 percent in the last 12 months.
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