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Symmetry Medical Reports Record Second Quarter 2008 Revenue of $109.8 Million
Date:8/6/2008

Increases Full Year Revenue Guidance to a range of $410 Million to $420

Million

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
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SOURCE Symmetry Medical Inc.
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Related medicine news :

1. Symmetry Medical to Report Second Quarter 2008 Financial Results on August 6, 2008
2. Symmetry Medical Reports Record First Quarter 2008 Revenue of $101.9 Million
3. Symmetry Medical to Report First Quarter 2008 Financial Results on June 24, 2008
4. Symmetry Medical Reports Full Year 2007 Financial Results
5. Symmetry Medical Delays 10-K Filing to Complete Review
6. Symmetry Medical to Expand Malaysian Operations
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8. Symmetry Medical to Provide Fourth Quarter 2007 General Business Update on February 14, 2008
9. Symmetry Medical Completes Acquisition of DePuy Orthopaedic Instrument Facility
10. Symmetry Medical Provides Update of Previously Disclosed Accounting Review at Sheffield, UK Operating Unit
11. Symmetry Medical Appoints John Hynes Chief Operating Officer, Europe
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