Smith & Nephew slips on Q3 sales slide

Thu, 11/01/2012 - 3:34pm
Mass Device

Third-quarter sales for Smith & Nephew fall nearly 8% to their lowest point in 7 years, sending shares down a bit on Wall Street today.

Smith & Nephew

Smith & Nephew (FTSE:SN, NYSE:SNN) shares slid a bit on Wall Street today after the medical device company reported its lowest quarterly sales of the past 7 years.

Smith & Nephew posted profits of $134 million, or 14.9¢ per share, on sales of $952 million during the 3 months ended Sept. 29. That's a slight bottom-line gain of 0.8% but a top-line slide of 7.8% compared with the same period last year.

SNN shares were down 1.4% to $52.25 as of about 3:30 p.m. today on Wall Street.


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