WARSAW, Ind., Aug. 4, 2011 /PRNewswire/ —
Second Quarter Highlights:
Revenue increased 7% year-over-yearOperating income of
$7.5 million; non-GAAP operating income of $9.7 million up 20%
year-over-yearGross margin improves to 23.5%Net
income of $4.2 million; non-GAAP net income of $5.6 million up 19%
year-over-yearLowers 2011 financial guidance to reflect
industry trends
Symmetry Medical Inc. (NYSE:
SMA), a leading global source of innovative medical device
solutions, including orthopedic implants, surgical instruments, and
sterilization cases and trays, announced second quarter 2011
financial results for the period ended July 2, 2011.Second
QuarterVs Prior Quarter(in millions, except per share
data)
2011
2010
Change2Q’11
1Q’11
ChangeRevenue
$ 94.7
$ 88.8
7%$ 94.7
$ 95.8
-1%Operating Income
7.5
7.8
-3%7.5
3.1
141%Net Income
4.2
4.5
-7%4.2
1.4
207%EPS
$ 0.12
$ 0.13
-8%$ 0.12
$ 0.04
200%Non-GAAP*Operating Income*
9.7
8.1
20%9.7
5.9
66%Net Income*
5.6
4.7
19%5.6
3.2
78%EPS*
$ 0.16
$ 0.13
23%$ 0.16
$ 0.09
78%Revenue by Product:Instruments
$ 37.8
$ 35.4
7%$ 37.8
$ 39.2
-4%Implants
26.5
28.5
-7%26.5
27.2
-3%Cases
24.8
19.8
25%24.8
23.2
7%Other
5.6
5.1
10%5.6
6.2
-10%Total Revenue
$ 94.7
$ 88.8
7%$ 94.7
$ 95.8
-1%* Excludes charges for management transition costs in 2011,
as well as facility consolidation and severance costs incurre
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