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Symmetry Medical Reports First Quarter 2009 Financial Results
Date:5/7/2009

Reaffirms Full Year 2009 Revenue and Increases Low-end of EPS Guidance

WARSAW, Ind., May 7 /PRNewswire-FirstCall/ --

First Quarter 2009 Highlights:

  • Revenue of $101.4 million, comparable year-over-year and up 6.8% on a constant currency basis
  • Gross margin of 24.2%, up 70 basis points year-over-year and up 80 basis points over the fourth quarter of 2008
  • Operating income of $11.2 million, up 17.2% year-over-year and up 18.2% over the fourth quarter of 2008
  • Net income of $6.8 million or $0.19 per diluted share, compared to $4.0 million or $0.11 per diluted share in the first quarter 2008

Symmetry Medical Inc. (NYSE: SMA), a leading independent provider of products to the global orthopaedic device industry and other medical markets, announced today first quarter 2009 financial results for the period ended April 4, 2009.

     (in millions,            First Quarter              Vs Prior Quarter
     except share data)  2009      2008    Change    1Q'09     4Q'08   Change
                         ----      ----    ------    -----     -----   ------
    Revenue             $101.4    $101.9      0%    $101.4     $99.7      2%
    Operating Income      11.2       9.6     17%      11.2       9.5     18%
    Net Income             6.8       4.0     73%       6.8       4.4 *   56%
    EPS                  $0.19     $0.11     73%     $0.19     $0.12 *   62%

    Revenue by Product:
    Instruments          $46.5     $39.3     18%     $46.5     $44.4      5%
    Implants              29.1      30.3     -4%      29.1      29.6     -2%
    Cases                 18.5      21.5    -14%      18.5      18.5      0%
    Other                  7.3 
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SOURCE Symmetry Medical Inc.
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