The company lowered its revenue projection from $203 million to $202 million to reflect an inventory reduction initiatives by the company’s instrument distributors, weakness outside of the United States and weaker than expected sales of its domestic extremities reconstruction products.
The company also updated 2012 revenue to increase 7 percent on a reported basis over 2011 revenues. The reduction in 2012 expected earnings reflects the lower performance in the fourth quarter of 2011, a stronger dollar compared to the Euro, international economic risk and slightly lower growth in domestic extremity product lines.
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