Stryker Corporation (SYK), one of the world’s largest medical device companies operating in the global orthopedic market, reported its financial results for the second quarter of fiscal 2009. Net sales in the quarter were $1,634.3 million, a decline of 4.6% year over year. The company was hurt by a slowdown in MedSurg businesses and foreign currency (FX) headwinds. Excluding FX, net sales were roughly flat, compared to last year.

In terms of business segments: Orthopaedic Implants sales were roughly flat year over year at $1,014.2 million. The company witnessed strong U.S. sales buoyed by higher shipments of reconstructive, trauma, spinal and craniomaxillofacial implant systems. However, international sales were lower due to currency headwinds. MedSurg Equipment sales declined 11% year over year to $620.1 million. This segment was hurt by the global economic slowdown with patients delaying their surgical operations. Lower shipments of surgical equipment and surgical navigation systems, endoscopic, communications