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Synthes 2008: Record Sales of US$ 3,192.5 Million Grew 15.7%, and Record Net Earnings Grew 20.0%

Synthes (SWX: SYST.VX) today announced its Full Year 2008 financial results with record Sales and record Net Earnings.

Fourth Quarter 2008

> Global sales were US$ 811.3 million, +9.9% vs. prior year (PY) (14.4% in local currencies)
> Double-digit local currency sales growth was once again achieved across all geographical regions and product groups
> Continued accelerated sales growth and market share gains in Spine globally

Full Year 2008

> Global sales at US$ 3,192.5 million increased by US$ 432.8 million ($371.0 million in LC)
> Net earnings of US$ 735.0 million grew in excess of double-digit sales growth
> Double-digit sales growth in all geographical regions and product groups driven by increased penetration of new products, sales force expansion, and increased educational efforts
> Strong gross margin of 82.7%
> Income tax rate decreased by 3.7 pps vs. PY to 30.3%
> Strong cash generation resulted in a record cash balance of US$ 871.5 million, 60% growth vs. PY
> Other achievements include the settlement of the TFN (Trochanteric Fixation Nail) case, and the launch of over 90 new products, including ProDisc®-C in the U.S.

Josh Sandberg

Josh Sandberg is the President and CEO of Ortho Spine Partners and sits on several company and industry related Boards. He also is the Creator and Editor of OrthoSpineNews.

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