Symmetry Medical, Inc. (SMA) reported third-quarter earnings per share of 15 cents that came in a penny shy of the Zacks Consensus Estimate. However, earnings came ahead of last year’s figure of 7 cents.   Sales   Total sales in the reported quarter declined 22% year over year to $87.2 million. The decline was due to lower customer demand across all the business segments as a result of the economic turbulence. Patients are deferring elective procedures as they are not life sustaining in nature.   Instruments revenues declined 15% year over year to $41.3 million. Implants revenues declined 23% year over year to $24.2 million. Both Cases and Other sales registered a decline of 29% and 40%, respectively.    Margins   Symmetry registered an expansion in margins due to its strong cost-cutting initiatives. Operational improvements at the Sheffield, UK unit also helped in improving margins. Gross margin ...

Symmetry Medical Inc. (SMA) has lowered its revenues and earnings per share guidance for the full fiscal 2009. Revenues are now expected in the range of $355 to $365 million, lower than its previous guidance of $385 to $405 million. Earnings per share are estimated in the range of 63 to 68 cents, compared to the prior guidance of 77 to 85 cents.  Shares of Symmetry reacted negatively to the news, with price declining roughly 18% to close at $7.84 at the end of Oct 26, 2009. The company lowered its guidance on the back of lower order flows due to the current economic turbulence. The present global turmoil resulted in customers deferring their buying decisions.  Symmetry Medical is the largest original equipment manufacturer (OEM) provider of orthopedic implants and instruments to orthopedic device manufacturers. The company has created a distinct competitive position in the orthopedic device ...

After acquiring Pressplay online music service in May 2003, Napster (NAPS) updated its service with value-added features and launched itself as a paid service under the Napster brand name. The subscription service enables fans to freely sample the world's largest and most diverse online collection of music and experience the largest number of features. This service allows users to legally play, download, and burn (copy) online digital music legally.

The company has marshaled support for its service from leading device manufacturers such as Dell (DELL), iRiver, and Creative Labs. Furthermore, Napster is targeting the music-enabled cell phone market. Partnering with Ericsson (ERIC), Napster has put together a demo of a wireless solution and is in discussions with major carriers.

Napster faces stiff competition because many big players have concentrated on the emerging digital music market. The company competes against RealRhapsody (RNWK), MusicMatch, Apple Computer's (AAPL) iTunes Music

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