* Cites weak demand
* Shares down 26 pct
Oct 26 (Reuters) - Orthopaedic-implants maker Symmetry Medical Inc SMA.N cut its 2009 outlook, citing reduced order flow due to lower-than-expected demand in both its orthopaedic and non-orthopaedic markets, sending its shares down 26 percent.
The company now expects 2009 earnings of 63 cents to 68 cents a share, down significantly from its prior view of 77 cents to 85 cents a share.
Revenue for the year is expected to be $355 million to $365 million, down from previous outlook of $385 million to $405 million.
“Since our previous guidance announcement, and particularly in recent weeks, we have experienced greater than anticipated order reductions,” Chief Executive Brian Moore said in a statement.
The company said it would continue to engage in significant cost reduction measures in response to the reduced demand.
Shares of the company fell 26 percent to $7.10 in early morning trade on the New York Stock Exchange. (Reporting by Esha Dey in Bangalore; Editing by Aradhana Aravindan)