West Chester (PA), USA, February 16, 2012

Synthes (SIX: SYST.VX) today announced its Full Year 2011 financial results with sales and earnings growth of 7.8% and 6.5%, respectively (4.8% and 1.3% in local currency).

Full Year 2011

  • Global revenue increased to US$ 3,973.8 million representing growth of 7.8% (4.8% in local currency [LC]) vs. prior year (PY).
  • Gross margin remained strong at 81.6% of sales; however, declined by 1.0 pps primarily due to transactional foreign exchange (FX) rate impacts.
  • Operating expenses as a percentage of sales (in LC) increased from 47.8% in the previous year to 49.2%, primarily due to increased investments in the business associated with selling, legal matters, and new business development efforts, Johnson & Johnson acquisition related expenses, and higher royalty expenses as a result of foreign exchange rate fluctuations.