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Friday, November 06, 2009
Smith & Nephew Net Profit Jumps 73%, Revenue Slips
By Sarah Turner
MarketWatch Pulse
LONDON -- Orthopedics firm Smith & Nephew said Friday that its third-quarter net profit rose to $128 million, from $74 million last year. Revenue declined to $915 million, from $930 million a year ago, hit by adverse currency movements. "Market conditions remain challenging, but are showing some early signs of stabilizing," the firm said. It said that overall revenue guidance remains unchanged from the last quarter, with stronger a stronger performance in reconstruction expected to balance weaker performance in trauma. "We remain confident in our ability to deliver a good outcome for the full year," it said.
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