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Symmetry Medical Inc Lowers FY 2013 Guidance

Thursday, 31 Oct 2013 07:00am EDT 

Symmetry Medical Inc announced that based on the third quarter 2013 results and the current outlook for the remainder of the year, the Company is updating its financial guidance for fiscal 2013. The Company expects fiscal 2013 revenue to be in the range of $398 million to $402 million. The Company expects fiscal 2013 GAAP loss per diluted share to be in the range of $(0.94) to $(0.90) and fiscal 2013 as adjusted earnings per diluted share (EPS) to be in the range of $0.28 to $0.32. This includes a negative $0.02 impact of the Medical Device Excise Tax in G&A expense. The as adjusted earnings per diluted share guidance excludes the impact of amortization of intangible assets and debt issuance costs, asset impairment charges, the net release of reserves for uncertain tax positions, unrealized foreign currency impact on an intercompany loan, stock compensation expense, acquisition related costs, facility closure and severance costs, Symmetry Surgical catalog distribution and other one-time expenses. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $405 million and EPS of $0.34 for fiscal 2013. 

Company Quote

-0.12 -1.35%
15 Apr 2014