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 ...

The global medical devices industry is fairly large and is valued at roughly $223 billion, with the U.S. accounting for approximately 41%. The industry is divided into different categories such as Cardiology, Oncology, Neuro, Orthopedic, Aesthetic Devices and Healthcare IT. In the medical devices space, we recommend that investors focus on companies providing life-sustaining products. These companies provide a strong recurring stream of revenues as patients are unable to forego these products. Furthermore, investors should allocate funds to companies with high-earnings-quality profiles. Large companies with a wide portfolio of products are also better poised for good returns. These companies are capable of withstanding the current economic recession. Another area which is interestingly poised for growth these days is Healthcare IT. The landscape has changed since the Obama Administration passed a health care stimulus package to encourage hospitals and physicians practices to modernize their health record keeping. ...

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Friday August 21, 2009

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Albina Community Bancorp (OTCBB:ACBC), Portland’s only certified community development bank, announced today that it will receive a $216,547 Bank Enterprise Award (BEA), from the U.S. Department of the Treasury’s Community Development Financial Institution Fund (CDFI), for its 2008 community development work in Portland, Oregon. CDFI funds are awarded to viable financial institutions that have the financial and managerial capacity to provide affordable and appropriate financial products and services that positively impact their communities.

China Crescent Enterprises, Inc. (OTCBB: CCTR) today announced that the Company remains listed on the Regulation SHO Threshold Security List. SEC Regulation SHO targets abusive naked short

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Symmetry Medical Inc. (SMA) reported fiscal second-quarter EPS of 25 cents, considerably higher than the year-ago profit of 17 cents per share and ahead of the Zacks Consensus Estimate of 21 cents per share.   Net revenues   Net revenues for the quarter declined roughly 8% year over year to $101.0 million. The decline was primarily due to an unfavorable foreign exchange (FX) and weaknesses in the orthopedic industry. The current economic turbulence has resulted in people delaying elective procedures. Excluding FX, net revenues declined roughly 3% year over year. Net revenues in terms of product segments are as follows:   Instruments: $46.9 million (increasing 4% year over year) Implants: $29.9 million (declining 4% year over year) Cases: $18.9 million (declining 19% year over year) Other: $5.3 million (declining 48% year over year)   Margins   Gross margin for the quarter increased 150 basis points year over year ...