Symmetry sets all-time low on 3Q earns and outlook

NEW YORK - Shares of Symmetry Medical Inc. skidded Wednesday after the orthopedics company reported an uneven third quarter, and cut its full-year forecast due to continued losses at its Sheffield, U.K., unit. In the three months ended Oct. 4, Symmetry said it earned $2.5 million, or 7 cents per share, compared with a loss of $1.1 million, or 3 cents per share, a year ago. Excluding one-time costs, such as unfavorable foreign currency exchanges, the company earned 19 cents per share. Revenue rose 48 percent to $112.1 million from $75.8 million. On average, Thomson Reuters said analysts were expecting a profit of 21 cents per share on $106.1 million in revenue. The Warsaw, Ind., company said it posted revenue of $4.7 million from businesses it bought after the end of the third quarter of 2007, and gained $14 million after... [read full story]