WARSAW, Ind. (AFX) - Medical implant and instrument maker Symmetry Medical Inc. said Thursday its fourth-quarter profit fell 30 percent on shrinking revenue and slightly higher costs.
The company earned $5.1 million, or 15 cents per share, compared with a profit of $7.3 million, or 21 cents per share, during the same period a year prior. Revenue eased 7 percent to $58.5 million from $62.6 million.
Analysts polled by Thomson Financial expected profit of 11 cents per share on revenue of $60.4 million.
Revenue during the fourth quarter included $5.6 million from Riley Medical and $1.8 million from Everest Metal. The companies were acquired May 2 and Aug. 31, respectively.
Full-year profit declined to $24.2 million, or 69 cents per share, from $31.8 million, or 92 cents per share. Revenue slipped to $253.6 million from $263.8 million.
Shares of Symmetry Medical rose 48 cents, or 3.5 percent, to $14.41 on the New York Stock Exchange in midday trading. The stock has traded between $10.82 and $22.95 over the last 52 weeks.
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