This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Smith & Nephew Plc Management Discusses Q2 2011 Results - Earnings Call Transcript

Smith & Nephew plc (SNN)

Q2 2011 Earnings Call

August 05, 2011 4:00 am ET


Olivier Bohuon - Chief Executive officer, Director and Chairman of Disclosures Committee

Adrian Hennah - Chief Financial Officer, Executive Director, Member of Disclosures Committee and Member of Risk Committee


Martin Wales - UBS Investment Bank

Navid Malik - Matrix Group Limited

Thomas Jones - Berenberg Bank

Justin Smith - MF Global UK Limited

Ingeborg Øie - Jefferies & Company, Inc.

David Adlington - JP Morgan Chase & Co

Unknown Analyst -


Olivier Bohuon

Okay, good morning. So I'm Olivier Bohuon. I'm the Chief Executive Officer of Smith & Nephew and I welcome you to our presentation of the second quarter results 2011. I will speak about our achievements for the second quarter and then to Adrian for the Q2 numbers. When Adrian is finished, I will come back and discuss my observations in finance about Smith & Nephew, our industry for my first months here. So I'll then talk about the changes I intend to make to better focus our resources to deliver value for our customers and for our shareholders. As usual, we'll take questions at the end of the formal presentation.

So despite the difficult environment, we've had another strong quarter of revenue growth. Overall, our revenues were up and underlying 5% to just over $1 billion. It's another good performance as our market conditions remain soft. Once again, Orthopaedic Reconstruction generative revenue growth at above the market rate. The highlight remains our U.S. franchise, which grew 10%, compared to the U.S. market gross of minus 3%. Stromile [ph] is now consistently delivering the good growth going forward. We'll now be challenging the team to beat it from here. Endoscopy grew 5%.

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,698.18 -77.94 -0.44%
S&P 500 2,059.69 -8.20 -0.40%
NASDAQ 4,880.2280 -20.6570 -0.42%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs