8-KEarnings & ResultsExhibits & Filings

STRYKER CORP 8-K Report, Financial Results (Jan 27, 2009)

Filed January 27, 2009For Securities:SYK

Summary

Stryker Corporation (SYK) filed an 8-K on January 27, 2009, to report its fourth quarter and full-year 2008 operating results via a press release filed as an exhibit. The filing emphasizes the use of non-GAAP financial measures to provide a more consistent and comparable view of the company's performance. These measures include 'constant currency' sales, 'adjusted net earnings from continuing operations,' and 'adjusted diluted net earnings per share from continuing operations.' The company explains that these non-GAAP metrics are used internally for operational review, trend analysis, and bonus calculations, and are provided to investors to offer a clearer understanding of performance by excluding certain charges. Specifically, 'constant currency' removes the impact of foreign exchange fluctuations, while 'adjusted' earnings exclude restructuring charges from 2008 and an intangible asset impairment charge from 2007. Stryker encourages investors to consider these supplemental measures alongside their GAAP financial statements.

Key Highlights

  • 1Stryker Corp. announced its Q4 and full-year 2008 financial results via an 8-K filing on January 27, 2009.
  • 2The report includes a press release detailing the company's operating results.
  • 3Stryker is utilizing non-GAAP financial measures to present performance, including 'constant currency' sales.
  • 4Non-GAAP metrics also include 'adjusted net earnings from continuing operations' and 'adjusted diluted net earnings per share from continuing operations.'
  • 5The company uses these adjusted measures to provide a more comparable view of financial performance.
  • 6Excluded from adjusted earnings are 2008 restructuring charges and a 2007 intangible asset impairment charge.
  • 7Stryker encourages investors to review both GAAP and non-GAAP financial information.

Frequently Asked Questions

The main purpose of this 8-K filing is to report Stryker Corporation's fourth quarter and full-year 2008 financial results, which were announced via a press release filed as an exhibit to the report.

The key non-GAAP financial measures mentioned are 'constant currency' sales, 'adjusted net earnings from continuing operations,' and 'adjusted diluted net earnings per share from continuing operations.' These are used to provide a more consistent and comparable view of performance by excluding certain charges.

Stryker uses non-GAAP financial measures to provide meaningful information about its operational performance on a consistent and comparable basis. They exclude items like foreign currency fluctuations, restructuring charges, and impairment charges that can affect the comparability of results, and management uses these for internal analysis and bonus calculations.

The 'adjusted' earnings figures exclude restructuring charges recorded in 2008 and an intangible asset impairment charge recorded in 2007. These exclusions are intended to provide a clearer view of ongoing operational performance.