Stryker sees better-than-expected 2011 results

Stryker has reported a better-than-expected financial performance for 2011, prompting the company to forecast further growth in 2012.

The firm's preliminary net sales data shows a 13.5 percent improvement in year-on-year performance to achieve an annual total of $8.3 billion (5.41 billion pounds), with particularly strong results coming from its neutotechnology and spine division.

According to chairman, president and chief executive officer Stephen MacMillan, this is reflective of the global diversity of the company's product range, as well as the success of recent acquisition deals and product launches.

Stryker now expects to achieve sales growth of between two and five percent in 2012, excluding the impact of foreign currency and acquisitions.

Mr MacMillan said: "We believe we are well-positioned to deliver solid sales and earnings growth in 2012, through a combination of leveraging our acquisitions while also continuing to deliver new products stemming from internal innovation."

Last month, the company underlined its fiscal stability by launching a new share repurchase scheme, as well as authorising a quarterly dividend increase of 18 percent.