Since Dr. Stryker’s first invention, we have been a company of inventors, experimenters and achievers — all united behind the single goal of improving the delivery of healthcare in ways that positively affect the work of caregivers and the lives of patients.
We have maintained and expanded our Company’s foundation over the years based on the character and relentless work ethic of our employees around the world. Grounded in financial discipline, our drive for market-leading innovation and business excellence has allowed us to continue to advance in the face of an evolving healthcare market.
In 2011, we continued our journey of advancing innovation and delivering strong results. We grew our top line by $1 billion, to $8.3 billion in revenue, an increase of 13.5% over 2010. Our U.S. GAAP 2011 diluted net earnings per share finished at $3.45, and adjusted diluted net earnings per share1 grew 12% to $3.72, finishing near the high end of our original guidance.
Our strong balance sheet continued to support our cash deployment strategy, which is focused on acquisitions, dividends and share buybacks and is designed to provide long-term value while maximizing shareholder returns. Our three-pronged focus on capital allocation helps ensure we are gaining access to fast growing markets, while also maintaining a disciplined and consistent approach to both buybacks and dividends. This strategy was evident in 2011 as we deployed $2.1 billion towards acquisition activity, while also increasing our dividend per share by 20% and directing $622 million into repurchasing stock to further benefit our shareholders.
We look forward to building on the successes of 2011, continuing to navigate the challenges and ensuring that the vision that began with Dr. Stryker will remain as our foundation in 2012 and beyond.