Medical device maker Stryker Corp. said Monday that its sales rose 9 percent to about $2 billion during the fourth quarter, topping Wall Street expectations.
Analysts polled by Thomson Reuters expected $1.94 billion in sales, on average. The company said orthopedic implant sales rose 5 percent to just under $1.17 billion, while sales of surgical equipment rose 15 percent to $829 million.
For the full year, the company had $7.32 billion in sales and expects to report adjusted profit between $3.31 and $3.33 per share. Looking ahead, Stryker expects adjusted profit between $3.65 and $3.73 per share in 2011.
The forecasts beat the average estimates of analysts, who expect the company to post 2010 profit of $3.29 per share on revenue of $7.27 billion and 2011 adjusted profit of $3.64 per share
Shares of Stryker rose $1.73, or 3.2 percent, to $56.10 in afterhours trading after gaining 38 cents to close the regular session at $54.70.