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Stryker Operating Results for Quarter Ended September 30, 2009

Third Quarter Highlights

— Net sales of $1,653 million increased 1.2% on a constant currency basis
(flat as reported)
— Orthopaedic Implants sales increased 6.9% on a constant currency basis
(5.5% increase as reported)
— MedSurg Equipment sales decreased 6.7% on a constant currency basis
(7.7% decrease as reported)
— Recorded restructuring charges of $48 million (net of income tax
benefits)
— Adjusted net earnings increased 1.3% from $274 million to $277 million
and adjusted diluted net earnings per share increased 4.5% from $0.66 to
$0.69

— Reported net earnings decreased 16.4% from $274 million to $229 million
and reported diluted net earnings per share decreased 13.6% from $0.66
to $0.57

“We are pleased to deliver solid results in a challenging environment with all of our orthopaedic implant businesses posting accelerated worldwide revenue growth, led by strong performances in the U.S. In addition, both our Endoscopy and Medical franchises showed a modest rebound with sequentially higher sales over the second quarter of 2009 despite continued softness in hospital spending,” commented Stephen P. MacMillan, President and Chief Executive Officer.

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Josh Sandberg

Josh Sandberg is the President of Ortho Spine Partners and Partner for The De Angelis Group. He also serves as Co-Founder and Editor of OrthoSpineNews.

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