Markets disappointed with Synthes-Stratec numbers
Shares in the medical technology company, Synthes-Stratec, fell by more than five per cent on Thursday as the markets expressed their disappointment with the company's latest figures.
Synthes-Stratec reported a 32 per cent increase in operating earnings on Thursday on sales growth of 26 per cent. The company said sales stood at SFr1.33 billion ($797 million) compared to SFr1.05 billion in 1999.
Net profit before extraordinary costs rose by 38 per cent to SFr298.3 million which was slightly below analysts’ expectations. But after goodwill amortisation, the company had a loss of SFr39 million. This compared to SFr60.8 million in 1999.
Sales in bone repair rose 27 per cent to SFr1.27 billion. In prosthetics, sales rose 10 per cent to SFr65.1 million.
The company was formed in 1999 by the merger of the United States company, Synthes, and the Swiss company Stratec.
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