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Symmetry Medical, Inc. Message Board

  • zeroqpon zeroqpon Oct 5, 2007 2:56 PM Flag

    Pending restatement

    SMA is a powerful company in its space, serving an increasingly healthy set of customers in the orthopedic device field. Today's sell-off is a buying opportunity, as the potential restatement is limited to the UK sub and pertains to a period extending longer than a decade. The UK segment of SMA's business is growing very quickly, but it accounts for only 20% of revenues. Additionally, in 1 years' time SMA has been able to ween its dependence on the big orthopedic companies where now they book about 50% of their revenues, down from 58% 12 months ago. Operationally, SMA has come a long way over the past few years.

    Got in today (albeit at a paper loss for the moment) at $16.66. Biomet, Zimmer, DePuy, Smith-Nephew; they are all bidding out a significant volume of instrument builds, and there is no end in sight (particularly with the DOJ settlement now behind them). Great longer-term play with good potential for a quick recovery. See their BSC slide presentation from last month here:

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