Knee Business Big for Smith & Nephew's 9% Revenue Increase in 2Q

Smith & Nephew reported $1 billion in revenues during the second quarter of 2011, a 9 percent increase over the same period last year, according to a company news release. The company's orthopedics unit experienced a 4 percent increase from $535 million to $588 million, and the endoscopy unit saw a 5 percent growth from $206 million to $231 million. Hip sales remained flat and knee replacement sales grew by 7 percent, driven by the VERILAST bearing technology. Orthopedic trauma revenues also grew by 4 percent to $115 million.

Revenue from the endoscopy unit grew by 5 percent to $231 million, while European revenue was flat. In sports medicine, the arthroscopy unit grew by 6 percent.

The ability to adapt in an ever-changing market and anticipate future market conditions has helped the company establish a new strategic framework for continued success, according to Smith & Nephew CEO Olivier Bohuon.

The company experienced a 3 percent decrease in trading profit and net debt decreased by $5 million to $346 million during the second quarter.

Read the release on the 2Q financial report for Smith & Nephew.

Related Articles on Orthopedic Device Companies:
MAKO Surgical 2Q Revenue Reaches $18.6M, 81% Increase
Alphatec Holdings Reports 2Q Revenue of $50.9M, 12% Increase
Wright Medical Group Reports 4% Net Sales Increase Driven by International Market Growth