Symmetry also lowered its earnings guidance to a range of 63 cents to 68 cents per share from the prior 77 cents to 85 cents per share forecast, according to the report.
“Since our previous guidance announcement, and particularly in recent weeks, we have experienced greater than anticipated order reductions,” said Brian Moore, Symmetry’s president and CEO, in the report. “We believe this change in order flow will result in a significant shortfall to our revenue and earnings per share, primarily in the fourth quarter.”
Symmetry provides parts to companies that make replacement hips, knees and other joints, and the company also makes products for other healthcare companies and said it saw diminished order flow in both orthopedic and non-orthopedic markets.
Symmetry will report its third-quarter results on Nov. 5.
Read the Dow Jones report about Symmetry’s low third quarter sales.
