Symmetry Medical Reports Full Year 2007 Financi... ( - Restated Financial Statements File...)

Symmetry Medical Reports Full Year 2007 Financial Results

Date:4/23/2008

- Restated Financial Statements Filed for First Quarter and Second Quarter

2007 and Full Years 2005 and 2006 -

- Company to Hold Conference Call on April 24 at 8:00 a.m. ET -

Highlights: - Full-year 2007 revenue of $290.9 million, up 18.7% -

Reaffirmed Full Year 2008 Revenue Guidance

WARSAW, Ind., April 23 /PRNewswire-FirstCall/ -- Symmetry Medical Inc. (NYSE: SMA), a leading independent provider of products to the global orthopedic device industry and other medical markets, reported today financial results for fiscal year 2007. The Company has filed its Annual Report on Form 10-K with the Securities and Exchange Commission reflecting the restatement of previously issued consolidated financial statements for the 2005 and 2006 fiscal years including selected financial data for the 2003, 2004, 2005 and 2006 fiscal years. The Company has also filed amended Quarterly Reports on Form 10-QA for the first and second quarters of fiscal 2007 and its delayed Quarterly Report on Form 10-Q for third quarter of fiscal 2007.

Full Year 2007 Financial Results

The Company reported full year 2007 revenue of $290.9 million, an 18.7% increase from restated full year 2006 total revenue of $245.0 million. The Company's full year revenue included $11.3 million from Clamonta, Ltd., which was acquired by the Company on January 9, 2007, $4.7 million from TNCO Inc., which was acquired on April 3, 2007, and $7.5 million from Specialty Surgical Instrumentation Inc., which was acquired on August 31, 2007.

Gross profit for the full year 2007 was $52.6 million, a 6.8% decrease from restated full year 2006 gross profit of $56.4 million. Gross margin for the full year 2007 was 18.1%, compared
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SOURCE Symmetry Medical Inc.
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