LONDON (Reuters) - Artificial hip and knee maker Smith & Nephew (L:SN) reported a 2 percent rise in underlying quarterly revenue to $1.12 billion (£902.13 million), towards the bottom of forecasts, after sales grew only 2 percent in the United States and stalled in other established markets.
Analysts had been expecting revenue in the range of $1.12 billion to $1.15 billion, according to company-supplied figures.
Shares in the company, which have fallen by 10 percent in past month, dropped to a four-month low of 11.15 pounds after the results were published on Thursday. They were trading down 1.5 percent at 11.37 pounds by 1145 GMT.
Smith & Nephew said its knees implants business continued to perform "consistently well", but it was still struggling to find growth in its hips implant division.