Sales were flat and profits slid 28% for Symmetry Medical during the 2nd quarter as it lowers its sales and earnings outlook for the rest of the year.

Sales are flat, profits plunge in the 2nd quarter for Symmetry Medical

Symmetry Medical (NYSE:SMA) saw its 2nd-quarter profits plunge more than 28% on flat sales and lowered its outlook for the balance of the year.

The Warsaw, Ind.-based medical device company posted profits of $1.2 million, or 3¢ per share, on sales of $101.9 million for the 3 months ended June 29, for a top-line slip of 0.4% and a bottom-line plunge of 28.1% compared with the 2nd quarter of 2012.

Adjusted to exclude 1-time items, earnings per share were 9¢, 3¢ shy of consensus expectations on Wall Street.