8-KEarnings & ResultsExhibits & Filings

STRYKER CORP 8-K Report, Financial Results (Jul 21, 2009)

Filed July 21, 2009For Securities:SYK

Summary

This 8-K filing from Stryker Corporation (SYK), filed on July 21, 2009, primarily serves to announce the company's second quarter 2009 operating results via a press release dated July 21, 2009. The key takeaway for investors is the company's use of non-GAAP financial measures, specifically "constant currency" sales and "adjusted diluted net earnings per share." Stryker is providing these supplemental measures to offer a more consistent and comparable view of its performance, removing the impact of foreign currency fluctuations and a specific restructuring charge from 2008. Management utilizes these metrics for internal analysis, business trend evaluation, and bonus calculations. While the company emphasizes the importance of reviewing its GAAP-reported results, these non-GAAP figures aim to help investors better understand underlying operational trends and period-to-period comparisons.

Key Highlights

  • 1Stryker Corporation reported its second quarter 2009 operating results on July 21, 2009.
  • 2The company is utilizing non-GAAP financial measures for reporting, including 'constant currency' sales and 'adjusted diluted net earnings per share'.
  • 3Constant currency measures are used to remove the impact of foreign currency exchange rate changes on sales performance.
  • 4Adjusted diluted net earnings per share excludes restructuring charges recorded in 2008 to provide a more comparable view of earnings.
  • 5Stryker's management uses these non-GAAP measures for internal performance review, trend analysis, and bonus plan calculations.
  • 6The company encourages investors to review both GAAP and non-GAAP financial information for a comprehensive understanding.

Frequently Asked Questions

The main financial metrics highlighted are 'constant currency' sales and 'adjusted diluted net earnings per share'. These are non-GAAP measures used by Stryker to provide a more consistent and comparable view of its financial performance.

Stryker uses 'constant currency' sales to eliminate the impact of foreign currency exchange rate fluctuations. This allows investors to better assess the company's underlying sales performance and trends on a comparable basis across different periods.

The 'adjusted diluted net earnings per share' excludes restructuring charges that were recorded in 2008. This exclusion aims to present earnings performance on a more consistent and comparable basis, removing the impact of a one-time event.

Investors should view these non-GAAP measures as supplemental information alongside Stryker's official GAAP-reported financial results. They are intended to provide additional insight into operational performance and trends, but should not be relied upon as the sole basis for investment decisions. The company itself encourages a comprehensive review of all financial data.