Key Developments: Symmetry Medical Inc (SMA)
10.23USD
22 May 2013
$-0.34 (-3.22%)
$10.57
$10.57
$10.80
$10.12
159,895
195,959
$12.83
$7.38
Latest Key Developments (Source: Significant Developments)
Symmetry Medical Inc Reaffirms FY 2013 Guidance
Symmetry Medical Inc announced that for fiscal 2013, it expects revenue to be in the range of $420-$440 million. The Company expects fiscal 2013 GAAP earnings per diluted share to be in the range of $0.35-$0.47 and as adjusted earnings per diluted share (EPS) to be in the range of $0.64-$0.76. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenue of $434 million and EPS of $0.71 for fiscal 2013. Full Article
Symmetry Medical Inc Issues FY 2013 Guidance; EPS Guidance Below Analysts' Estimates
Symmetry Medical Inc announced that for fiscal 2013, it expects revenue to be in the range of $420-$440 million. The Company expects fiscal 2013 GAAP earnings per diluted share to be in the range of $0.35-$0.47 and as adjusted earnings per diluted share (EPS) to be in the range of $0.64-$0.76. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenue of $438 million and EPS of $0.77 for fiscal 2013. Full Article
Symmetry Medical Inc Raises FY 2012 Revenue Guidance; Lowers FY 2012 EPS Guidance
Symmetry Medical Inc announced that it has narrowed fiscal 2012 guidance to a tighter range, with revenue now expected to be $410 to $415 million, with a corresponding tightening of as adjusted EPS guidance to $0.55 to $0.60. For fiscal 2012, the Company expects revenue to be in the range of $410-$415 million, compared to the previous guidance of $410 million to $425 million, GAAP earnings per diluted share (EPS) to be in the range of $0.26 to $0.31 and as adjusted earnings per diluted share to be in the range of $0.55 to $0.60. This compares to the previous guidance of GAAP EPS in the range of $0.30 to $0.40 and as adjusted EPS in the range of $0.55 to $0.65. The as adjusted* earnings per diluted share guidance excludes the impact of amortization of intangible assets and debt issuance costs, stock compensation expense, acquisition related costs, legal entity restructuring costs, SEC-related legal costs, management transition costs, and facility closure and severance costs. These items are expected to negatively impact full year 2012 GAAP earnings per diluted share by approximately $0.29. Full Article
Symmetry Medical Inc Announces FDA Clearance of Its FLASH PAK Evolution Valve
Symmetry Medical Inc announced that it received United States Food and Drug Administration (FDA) 510K clearance for its FLASH PAK Evolution valve. The Evolution valve is the next generation valve for Symmetry's immediate use (flash) sterilization product, FLASH PAK, and is distributed exclusively through Symmetry Surgical. The patent pending stainless steel construction of the new valve is designed for ease of use and simplicity of care. Full Article
Symmetry Medical Inc. Reaffirms FY 2012 Guidance
Symmetry Medical Inc. announced that based on the second quarter 2012 results, the Company is reiterating its fiscal 2012 revenue and earnings per share guidance. For the full year 2012, the Company expects revenue to be in the range of $410 million to $425 million. The Company expects fiscal 2012 GAAP earnings per diluted share to be in the range of $0.30 to $0.40 and fiscal 2012 as adjusted earnings per diluted share (EPS) to be in the range of $0.55 to $0.65. The as adjusted earnings per diluted share guidance excludes the impact of amortization of intangible assets and debt issuance costs, stock compensation expense, acquisition related costs, legal entity restructuring costs, SEC-related legal costs, management transition costs, and facility closure and severance costs. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenue of $418 million and EPS of $0.54 for fiscal 2012. Full Article
Symmetry Medical Inc. Reiterates FY 2012 Guidance
Symmetry Medical Inc. announced that for fiscal 2012, it expect revenue to be in the range of $410 million to $425 million, GAAP earnings per diluted (EPS) share to be in the range of $0.30 to $0.40 and adjusted earnings per diluted share to be in the range of $0.55 to $0.65. According to I/B/E/S Estimates, analysts were expecting the Company to report revenue of $420 million for fiscal 2012. Full Article
Symmetry Medical Inc Launches Enhancements To BOOKWALTER Surgical Retractor System
Symmetry Medical Inc announced that it has launched twelve new line enhancements to the BOOKWALTER Retractor System through its hospital direct surgical instrumentation division, Symmetry Surgical. The new BOOKWALTER technology will be featured at the upcoming Annual Meeting of the Association of Operating Room Nurses (AORN), which will take place on March 26 to 29, 2012 in New Orleans. The BOOKWALTER Retractor System, was included as part of Symmetry's recent acquisition of the surgical instrument portfolio of Codman & Shurtleff. Full Article
Symmetry Medical Inc. Reaffirms FY 2012 Revenue Guidance; Issues EPS Guidance In Line With Analysts' Estimates
Symmetry Medical Inc. announced that for fiscal 2012, it continues to expect revenue to be in the range of $410 million to $425 million, GAAP earnings per diluted (EPS) share to be in the range of $0.30 to $0.40 and adjusted earnings per diluted share to be in the range of $0.55 to $0.65. According to I/B/E/S Estimates, analysts were expecting the Company to report revenue of $422 million and EPS of $0.56 for fiscal 2012. Full Article
Symmetry Medical Inc. Closes Acquisition Of Surgical Instruments Business Of Codman & Shurtleff
Symmetry Medical Inc. announced that it has closed the previously announced acquisition of the surgical instruments business of Codman & Shurtleff, Inc. (Codman), a Johnson & Johnson company. Terms of the transaction were not disclosed. Full Article
Symmetry Medical Inc. To Acquire Surgical Instruments Business of Codman & Shurtleff A Johnson & Johnson Company
Symmetry Medical Inc. announced that it has entered into a definitive asset purchase agreement (Agreement) to acquire the surgical instruments business of Codman & Shurtleff, Inc. (Codman), a Johnson & Johnson company. Codman's line of surgical instruments will be integrated with Symmetry's current hospital direct business, Specialty Surgical Instrumentation (SSi), creating a new business segment with more than $100 million in combined annual sales in the $1 billion worldwide market for general surgical instruments. The combined hospital direct general surgical instruments business will be re-named Symmetry Surgical and will be based in Nashville, TN. Under terms of the Agreement, Symmetry will acquire the surgical instruments product portfolio and associated assets of Codman for $165 million in cash. Codman will provide transitional services to Symmetry Surgical for a period of time following the close of the transaction, including serving as master distributor outside the U.S. and providing certain administrative support. Symmetry intends to finance the acquisition through an amendment to its Senior Secured Credit Facility and the issuance of $65 million of senior subordinated notes. The transaction includes Codman's reusable stainless steel and titanium surgical hand-held instruments and retractor systems, sterile disposable surgical products (vein strippers, SECTO dissectors, tonsil sponges and surgical marker pens), and sterilization containers. Full Article
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