Symmetry Medical, a global orthopedic device manufacturer, reported third quarter revenues at $91.5 million, a 5 percent increase from the total revenue reported during the third quarter of 2009, according to a company news release.
The company's success can be attributed to an increase in customer orders. However, the increases were offset by higher manufacturing costs and unanticipated medical-related expenses. The company reported net income at $3.6 million, a 33 percent decrease from the net income reported for the third quarter of 2009.
Selling, general and administrative expenses were reported as $12.2 million, as compared with $10.6 million reported during the third quarter of 2009. The increase could be attributed to higher manufacturing costs from equipment breakdowns and enhanced pressure on quality and regulatory requirements.
The company reported $36 million in instrument sales, $28.3 million in implant sales and $21.5 million in cases during the third quarter of 2010.
Read the release on Symmetry Medical's 3Q FY 2010 financial report.
Read more coverage on Symmetry Medical:
- Symmetry Medical Plans $1.8M Expansion at the Lansing, Michigan Location
- Symmetry Medical Names Jose Fernandez Senior Vice President of New Product Development
- Symmetry Medical Announces Restructuring, Closing of Maine Facility
The company's success can be attributed to an increase in customer orders. However, the increases were offset by higher manufacturing costs and unanticipated medical-related expenses. The company reported net income at $3.6 million, a 33 percent decrease from the net income reported for the third quarter of 2009.
Selling, general and administrative expenses were reported as $12.2 million, as compared with $10.6 million reported during the third quarter of 2009. The increase could be attributed to higher manufacturing costs from equipment breakdowns and enhanced pressure on quality and regulatory requirements.
The company reported $36 million in instrument sales, $28.3 million in implant sales and $21.5 million in cases during the third quarter of 2010.
Read the release on Symmetry Medical's 3Q FY 2010 financial report.
Read more coverage on Symmetry Medical:
- Symmetry Medical Plans $1.8M Expansion at the Lansing, Michigan Location
- Symmetry Medical Names Jose Fernandez Senior Vice President of New Product Development
- Symmetry Medical Announces Restructuring, Closing of Maine Facility