This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Symmetry Medical Q1 2010 Earnings Call Transcript

As outlined on last quarter's call, these consolidation steps are expected to achieve annualized cost savings in the order of $3.4 million beginning in second half of 2010.

As we move through 2010, we will continue to deal all aspects of our operation to drive increased profitability and achieve further operating leverage as our customer demand improves. In addition to improvements in our core orthopedics business, we have made notable progress in expanding our non-orthopedic direct sales operation at SSI (inaudible).

The team with SSI is doing an excellent job building on brand recognition to establish a global distribution network supported by a US direct sales force. This aggressive approach led SSI to achieve record sales during the first quarter. We expect this momentum to continue following our launch of a dedicated website in the second quarter that will enable SSI to sell directly to our global customer base.

On our fourth quarter 2009 call, we mentioned new investments in sales, marketing and our new product line.

During the first quarter we started to increase our expansion in this area and recently appointed [José Hernández] as new SVP of new product development to spearhead our new product development activities. He will lead a focused team responsible for new product creation to complement all parts of our operation with an emphasis on products and intellectual property creation. José is an industry veteran who join Symmetry with multiple years of new product development experience within the orthopedic and spine market.

Read the rest of this transcript for free on

3 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SMA $9.27 -0.43%
AAPL $110.37 -1.75%
FB $88.15 -1.94%
GOOG $606.25 -1.32%
TSLA $245.57 -0.86%


Chart of I:DJI
DOW 16,374.76 +23.38 0.14%
S&P 500 1,951.13 +2.27 0.12%
NASDAQ 4,733.4970 -16.4820 -0.35%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs