Symmetry Medical recently announced fourth quarter revenue of $84.5 million, a 12 percent decrease over the same period last year.
The decline was driven by lower sales in the company's OEM Solutions segment, which was partially offset by growth in the Symmetry Surgical segment. The company's revenue decline includes lower sales among its five largest orthopedic OEM customers of $11.9 million due to sluggish procedure growth.
The company acquired Olsen Medical Solutions during the fourth quarter of 2011. Full year revenue for the company was $359 million, a slight decrease from 2010. However, the OEM Solutions segment revenue dropped by $7.5 million in 2011.
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The company acquired Olsen Medical Solutions during the fourth quarter of 2011. Full year revenue for the company was $359 million, a slight decrease from 2010. However, the OEM Solutions segment revenue dropped by $7.5 million in 2011.
Related Articles on Orthopedic Devices:
Orthofix Reports Flat 4Q Spine Sales, 5% Increase Overall
Small Bone Innovations Names Michael Simpson President & CEO
DJO Global Finalizes, Expands Partnership With Lima