Increases Full Year Revenue Guidance to a range of $410 Million to $420
Second Quarter 2008 Highlights: - Record revenue of $109.8 million, up 57.5% over second quarter 2007
- Gross profit of $27.4 million, up 86.3% over second quarter 2007 - Gross margin of 25.0%, up from 21.1% in the second quarter 2007 and 23.5%
in the first quarter of 2008 - Operating income of $12.5 million, up 86.8% over second quarter 2007
WARSAW, Ind., Aug. 6 /PRNewswire-FirstCall/ -- Symmetry Medical Inc. (NYSE: SMA), a leading independent provider of products to the global orthopaedic device industry and other medical markets, announced today second quarter 2008 financial results for the period ended June 28, 2008.
Revenue for the second quarter 2008 was $109.8 million, up 57.5% from $69.7 million reported in the second quarter 2007 and up 7.8% from $101.9 million reported in the first quarter 2008. Second quarter 2008 revenue included an additional $6.0 million from SSI and UCA, which was acquired in August 2007; and $12.2 million from the Company's New Bedford, Massachusetts manufacturing facility, which was acquired from DePuy Orthopaedics, Inc. in January 2008. Excluding acquisitions, the Company achieved organic revenue growth of 31.4% over the second quarter of 2007.
Gross profit for the second quarter 2008 was $27.4 million, an increase
of 86.3% from $14.7 million for the second quarter 2007 and an increase of
14.5% from $23.9 million for the first quarter 2008. Gross margin
percentage for the second quarter 2008 was 25.0% compared to gross margin
percentage of 21.1% for the second quarter 2007 and 23.5% for the first
quarter of 200
|SOURCE Symmetry Medical Inc.|
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