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

continues to exceed our output expectations. Most importantly, New Bedford allows us to leverage increased capacity at an opportunistic time, while deepening an important customer relationship and broadening our customer reach in the region.

Mr. Moore continued, "We continue to place a major emphasis on improving the operational and financial performance of our Sheffield, UK facility. Following a focus on meeting current and past due customer demand in the first quarter, our Sheffield team is implementing all of the strategic initiatives, processes and controls designed to improve its performance. We will continue executing this multi-faceted plan over the second half of 2008. We remain confident that our Sheffield facility will see improved performance in the third quarter and will remain on track to reach profitability in the fourth quarter of 2008."

Financial Guidance

The following forward-looking estimates regarding 2008 earnings guidance are based on current market conditions and foreign currency comparisons. Actual results may differ materially, and we refer you to forward-looking statements located at the end of the press release.

For the full year 2008, the Company is increasing revenue guidance to a range of $410 million to $420 million, up from the previously announced range of $395 million to $405 million. This increase is based on current order flow and anticipated customer demand for the remainder of 2008.

For the full year 2008, the Company is reaffirming guidance for diluted earnings per share in the range of $0.75 to $0.77. This guidance includes an increased effective tax rate for 2008. Regarding the Sheffield operating unit, the Company expects to incur a smaller net loss during the third quarter 2008 prior to the unit reaching profitability in the fourth quarter of 2008.

Conference Call

Symmetry Medical will host a conference all at 8:00 a.m. ET on August 6, 2008. A live Web cast of the conference
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SOURCE Symmetry Medical Inc.
Copyright©2008 PR Newswire.
All rights reserved

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