Symmetry Surgical (SSRG) 10-Q 11 May 15 2015 Q1 Quarterly report Financial data

DOCUMENT_AND_ENTITY_INFORMATIO

DOCUMENT AND ENTITY INFORMATION	3 Months Ended
	Apr. 04, 2015	8-May-15
Document and Entity Information [Abstract]
Entity Registrant Name	Symmetry Surgical Inc.
Entity Central Index Key	1616101
Current Fiscal Year End Date	-1
Entity Filer Category	Non-accelerated Filer
Trading Symbol	ssrg
Entity Common Stock, Shares Outstanding		10,312,376
Document Type	10-Q
Amendment Flag	FALSE
Document Period End Date	4-Apr-15
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2015

CONDENSED_CONSOLIDATED_BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)	Apr. 04, 2015	Jan. 03, 2015
In Thousands, unless otherwise specified
ASSETS:
Cash	$3,420	$2,994
Accounts receivable, net	9,924	10,070
Inventories	25,158	24,141
Deferred income taxes	2,812	2,816
Other current assets	1,766	1,983
Total current assets	43,080	42,004
Property and equipment, net	2,572	2,768
Deferred income taxes	21,109	21,243
Goodwill	7,118	7,126
Intangible assets, net of accumulated amortization	76,448	77,903
Other assets	238	219
Total Assets	150,565	151,263
LIABILITIES AND EQUITY:
Accounts payable	6,351	5,283
Accrued wages and benefits	1,605	1,902
Other accrued expenses	1,465	1,417
Accrued income taxes	301	158
Deferred income taxes	14	15
Revolving line of credit, net	1,088	3,442
Total current liabilities	10,824	12,217
Other long-term liabilities	1,011	1,092
Total Liabilities	11,835	13,309
Commitments and contingencies
Stockholders' Equity:
Common Stock, $.0001 par value; 50,000 shares authorized; shares issued April 4, 2015-10,312; January 3, 2015-10,313	1	1
Additional paid-in capital	138,874	138,576
Retained earnings (deficit)	640	-116
Accumulated other comprehensive loss	-785	-507
Total Stockholders' Equity	138,730	137,954
Total Liabilities and Equity	$150,565	$151,263

CONDENSED_CONSOLIDATED_BALANCE1

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Apr. 04, 2015	Jan. 03, 2015
In Thousands, except Per Share data, unless otherwise specified
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$0.00	$0.00
Common stock, shares authorized	50,000	50,000
Common stock, shares issued	10,312	10,313

CONDENSED_CONSOLIDATED_AND_COM

CONDENSED CONSOLIDATED AND COMBINED STATEMENTS OF OPERATIONS (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Apr. 04, 2015	Mar. 29, 2014
Income Statement [Abstract]
Revenue	$20,774	$20,562
Cost of revenue	10,889	12,086
Gross profit	9,885	8,476
Sales and marketing expenses	4,473	4,456
General and administrative expenses	4,561	4,495
Operating income (loss)	851	-475
Other (income) expense:
Interest expense	64	0
Other	-263	84
Income (loss) before income taxes	1,050	-559
Income tax expense (benefit)	294	-191
Net income (loss)	$756	($368)
Net income (loss) per share:
Basic (in dollars per share)	$0.08	($0.04)
Diluted (in dollars per share)	$0.08	($0.04)
Weighted average common shares and equivalent shares outstanding:
Basic (in shares)	9,587	9,587
Diluted (in shares)	9,603	9,587

CONDENSED_CONSOLIDATED_AND_COM1

CONDENSED CONSOLIDATED AND COMBINED STATEMENTS OF OPERATIONS CONDENSED CONSOLIDATED AND COMBINED STATEMENTS OF OPERATIONS (Parenthetical)	Dec. 05, 2014
In Thousands, unless otherwise specified
Income Statement [Abstract]
Common stock, shares outstanding	9,587

CONDENSED_CONSOLIDATED_AND_COM2

CONDENSED CONSOLIDATED AND COMBINED STATEMENTS OF COMPREHENSIVE INCOME (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Apr. 04, 2015	Mar. 29, 2014
Statement of Comprehensive Income [Abstract]
Net income (loss)	$756	($368)
Other comprehensive income (loss):
Foreign currency translation adjustments	-307	-10
Pension plan actuarial gain (loss), net of taxes	29	3
Comprehensive income (loss)	$478	($375)

CONDENSED_CONSOLIDATED_AND_COM3

CONDENSED CONSOLIDATED AND COMBINED STATEMENTS OF CASH FLOW (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Apr. 04, 2015	Mar. 29, 2014
Operating activities
Net income (loss)	$756	($368)
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	241	233
Amortization	1,400	1,345
Amortization of debt issuance costs	22	0
Net loss on sale of assets	2	79
Deferred income tax provision	121	373
Stock-based compensation	298	178
Unrealized foreign currency transaction (gain) loss	-26	16
Change in operating assets and liabilities:
Accounts receivable	-167	1,578
Other assets	183	-270
Inventories	-1,022	-840
Current income taxes	156	21
Accounts payable	1,149	47
Accrued expenses and other	76	-41
Net cash provided by operating activities	3,189	2,351
Investing activities
Purchases of property and equipment	-53	-4
Proceeds from sale of property and equipment	3	0
Net cash used in investing activities	-50	-4
Financing activities
Net transfers to Symmetry Medical Inc.	0	-2,405
Proceeds from Revolving Loan	69	0
Payments on Revolving Loan	-2,445	0
Net cash used in financing activities	-2,376	-2,405
Effect of exchange rate changes on cash	-337	8
Net increase in cash	426	-50
Cash at beginning of period	2,994	648
Cash at end of period	$3,420	$598

Description_of_Operations

Description of Operations	3 Months Ended
	Apr. 04, 2015
Nature of Operations [Abstract]
Description of Operations	Description of Operations
	Overview
	Symmetry Surgical Inc. (the “Company”) is a global marketer and distributor of medical devices with some limited manufacturing focused on the surgery market. The Company offers over 20,000 products and sells primarily to hospitals and surgical centers in the U.S. and countries worldwide. The Company's current product portfolio includes a broad range of reusable stainless steel and titanium, hand-held general and specialty surgical instruments, single use and disposable instruments, electro-surgery instruments, retractor systems, and containers and sterilization devices sold directly to hospitals and other sites of care. These products are typically used in the surgical specialties of neurosurgery, spine, general surgery- open and laparoscopy, microsurgery, OB/Gyn, ophthalmology, otolaryngology / ENT, plastic / reconstructive, peripheral vascular, arthroscopy, orthopedic, pediatrics, cardiovascular, thoracic, and urology in the hospital setting as well as surgery centers and in select physician offices. These products are viewed in two categories by management; Symmetry Surgical Branded Products and Alliance Partners Products. Symmetry Surgical Branded Products include all products sold under brand names managed by the Company whereas Alliance Partners Products are brands the Company distributes for others in defined markets.
	Separation from Symmetry Medical Inc.
	In August 2014, Symmetry Medical Inc. (“SMI”) announced that it had entered into an Agreement and Plan of Merger, dated as of August 4, 2014 (the “Merger Agreement”), by and among SMI, TecoStar Holdings, Inc., Tecomet, Inc., and TecoSym, Inc. (“Merger Sub”), pursuant to which Merger Sub was merged with and into SMI, with SMI continuing as the surviving corporation (the “Merger”). As a result of the Merger, all of the outstanding shares of common stock of Symmetry Surgical Inc. ( the "Company"), were spun-off to SMI’s stockholders and the holder of each outstanding share of common stock of SMI received one-quarter of a share of common stock of Symmetry Surgical. This is referred to as the “Spin-Off.”
	In connection with the Spin-Off, SMI entered into a Separation Agreement, dated as of August 4, 2014 (the “Separation Agreement”) with the Company. Pursuant to the Separation Agreement, SMI transferred all of the assets and liabilities of its Symmetry Surgical Business to the Company prior to the consummation of the Merger and the Spin-Off. The Separation Agreement provides for various agreements and arrangements governing the Company's relationship with SMI after the Spin-Off.
	The Company includes the consolidated operations of Specialty Surgical Instrumentation, Inc. (d/b/a Symmetry Surgical Inc.), Olsen Medical, LLC, Symmetry Surgical Netherlands, CV, Symmetry Surgical Netherlands, BV, Symmetry Surgical, GmbH and Symmetry Surgical Switzerland, GmbH, all of which were subsidiaries of SMI prior to the Merger and Spin-Off.

Basis_of_Presentation

Basis of Presentation	3 Months Ended
	Apr. 04, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation
	The condensed consolidated and combined financial statements of the Company have been prepared without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (the "SEC"). Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles ("GAAP") have been condensed or omitted pursuant to such rules and regulations. In the opinion of management, the accompanying condensed consolidated and combined financial statements contain all adjustments of a normal recurring nature considered necessary to present fairly the consolidated and combined financial position of the Company, its results of operations and cash flows. The Company’s results are subject to seasonal fluctuations. Interim results are not necessarily indicative of results for a full year. The condensed consolidated and combined financial statements included herein should be read in conjunction with the fiscal year 2014 consolidated and combined financial statements and the notes thereto included in the Company's Annual Report on Form 10-K for fiscal year 2014.
	The Company’s fiscal year is the 52 or 53 week period ending on the Saturday closest to December 31. Fiscal year 2015 is a 52 week year ending January 2, 2016.  The Company’s interim quarters for 2015 are 13 weeks long and quarter-end dates have been set as April 4, 2015, July 4, 2015 and October 3, 2015. Fiscal year 2014 was a 53 week year (ending January 3, 2015). The Company’s interim quarters for 2014 were 13 weeks long, except for the fourth quarter which was 14 weeks long, ending March 29, 2014, June 28, 2014 and September 27, 2014. References in these condensed consolidated and combined financial statements to the three months ended refer to these financial periods, respectively.

Basis_for_Historical_Presentat

Basis for Historical Presentation	3 Months Ended
	Apr. 04, 2015
Basis for Historical Presentation [Abstract]
Basis for Historical Presentation	Basis for Historical Presentation
	The consolidated and combined financial statements prior to Separation on December 5, 2014 include the allocation of certain assets and liabilities that have historically been held at the SMI corporate level but which are specifically identifiable or allocable to Symmetry Surgical. Cash and cash equivalents held by SMI were not allocated to Symmetry Surgical as it was not expected to be transferred to Symmetry Surgical. Long-term debt and short-term borrowings were not allocated to Symmetry Surgical as none of the debt recorded by SMI was directly attributable to or guaranteed by Symmetry Surgical. All historical intracompany transactions and accounts have been eliminated. All historical intercompany transactions between Symmetry Surgical and the OEM Solutions Business have been disclosed as related party transactions. All intercompany transactions between Symmetry Surgical and SMI corporate are considered to be effectively settled in the consolidated and combined financial statements of cash flows as financing activity.
	The historical financial statements do not necessarily include all of the expenses that would have been incurred had Symmetry Surgical been a separate, stand-alone entity and may not necessarily reflect Symmetry Surgical’s results of operations, financial position and cash flows had Symmetry Surgical been a stand-alone company during the periods presented. Symmetry Surgical’s historical financial statements include an allocation of expenses related to certain general and administrative, selling and marketing expenses from SMI to Symmetry Surgical. These expenses have been allocated to Symmetry Surgical first on the basis of direct usage when identifiable, with the remainder allocated on basis of their respective revenues. Symmetry Surgical considers the expense allocation methodology and results to be reasonable for all periods presented. However, the allocation may not be indicative of the actual expenses that would have been incurred had Symmetry Surgical operated as an independent, publicly-traded company for the periods presented.

Recently_Adopted_Accounting_Pr

Recently Adopted Accounting Pronouncements	3 Months Ended
	Apr. 04, 2015
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements
	On April 5, 2012, the Jumpstart Our Business Startups Act of 2012, or the JOBS Act, was enacted. Section 107 of the JOBS Act provides that an “emerging growth company” can take advantage of the extended transition period provided in Section 7(a)(2)(B) of the Securities Act of 1933, as amended, or the Securities Act, for complying with new or revised accounting standards. In other words, an “emerging growth company” may delay the adoption of certain accounting standards until those standards would otherwise apply to private companies and the Company has chosen to take advantage of this extended transition period.
	Interest - Imputation of Interest; Simplifying the Presentation of Debt Issuance Costs: In April 2015, the FASB issued ASU 2015-03, Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs. This new guidance requires debt issuance costs to be recognized in the balance sheet as a direct deduction from the carrying value of the associated debt liability, consistent with the presentation of a debt discount. The standard also requires the amortization of debt issuance costs to be reported as interest expense. This ASU is effective for financial statements issued for fiscal years beginning after December 15, 2015, and early adoption is permitted for financial statements that have not been previously issued. The new guidance should be applied on a retrospective basis, where the balance sheet of each presented individual period is adjusted to indicate the period-specific impact of using the new guidance. The Company early adopted this ASU, which resulted in the reclassification of $434 of debt issuance costs from other assets to debt as of January 3, 2015, and $412 as of April 4, 2015. There was no impact to interest expense as the Company has historically reported the amortization of debt issuance costs within this financial line.
	Revenue from Contracts with Customers:   In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606), which supersedes the revenue recognition requirements in Accounting Standards Codification (“ASC”) 605, Revenue Recognition. This ASU is based on the principle that revenue is recognized to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods and services. The ASU also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to obtain or fulfill a contract. The effective date will be the first quarter of fiscal year 2017 using one of two retrospective application methods. The Company is currently assessing the potential impact of the adoption of ASU 2014-09 on its financial statements and related disclosures.
	Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity:  In April 2014, the FASB issued ASU 2014-08, Presentation of Financial Statements (Topic 205) and Property, Plant and Equipment (Topic 360), Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity. This update modifies the requirements for reporting discontinued operations. Under the amendments in ASU 2014-08, the definition of discontinued operation has been modified to only include those disposals of an entity that represent a strategic shift that has (or will have) a major effect on an entity’s operations and financial results. This update also expands the disclosure requirements for disposals that meet the definition of a discontinued operation and requires entities to disclose information about disposals of individually significant components that do not meet the definition of discontinued operations. This update is effective for annual and interim periods beginning after December 15, 2014. The Company does not expect this ASU to have an impact on its financial position, results of operations or cash flows.
	Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period. In June, 2014, the FASB issued ASU 2014-12, Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period. This new guidance states that a performance target that affects vesting of a share-based payment and that could be achieved after the requisite service period is a performance condition under ASC 718. This update is effective for annual and interim periods beginning after December 15, 2015. The Company does not believe this ASU will have an impact on the its financial statements.
	Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern. In August, 2014, the FASB issued ASU 2014-15, Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern. This new guidance requires management to evaluate whether there is substantial doubt about the entity’s ability to continue as a going concern and, if so, disclose that fact. Management will also be required to evaluate and disclose whether its plans alleviate that doubt. The standard is effective for annual periods ending after December 15, 2016 with early adoption permitted. The Company does not believe this ASU will have an impact on its financial statements.

Inventories

Inventories	3 Months Ended
	Apr. 04, 2015
Inventory Disclosure [Abstract]
Inventories	Inventories
	Inventories consist of the following:
		April 4,		January 3,
		2015		2015
		(unaudited)
	Raw material	$	1,051	$	880
	Work-in-process	502		530
	Finished goods	23,605		22,731
		25,158		24,141

Property_and_Equipment

Property and Equipment	3 Months Ended
	Apr. 04, 2015
Property, Plant and Equipment [Abstract]
Property and Equipment	Property and Equipment
	Property and equipment, including depreciable lives, consists of the following:
		April 4,			January 3,
		2015			2015
		(unaudited)
	Buildings and improvements (20 to 40 years)	$	610		$	575
	Machinery and equipment (5 to 15 years)	1,474			1,499
	Office equipment (3 to 5 years)	4,086			4,039
	Construction-in-progress	9			43
		6,179			6,156
	Less accumulated depreciation	(3,607		)	(3,388		)
		$	2,572		$	2,768

Fair_Value_of_Financial_Instru

Fair Value of Financial Instruments	3 Months Ended
	Apr. 04, 2015
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Fair Value of Financial Instruments
	Accounting guidance establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. These tiers include: Level 1, defined as observable inputs such as quoted prices in active markets; Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable, and Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions.
	Certain nonfinancial assets and liabilities are measured at fair value on a nonrecurring basis and are subject to fair value adjustments in certain circumstances, such as when there is evidence of impairment. Assets and liabilities acquired in business combinations are recorded at their fair value as of the date of acquisition.
	The Company reviews for goodwill impairment annually on the first day of the fourth fiscal quarter and more frequently if circumstances indicate its carrying value may not be recoverable. The fair value of the reporting unit is determined using the income approach. The income approach focuses on the income-producing capability of an asset, measuring the current value of the asset by calculating the present value of its future economic benefits such as cash earnings, cost savings, tax structure and product offerings. Value indications are developed by discounting expected cash flows to their present value at a rate of return that incorporates the risk-free rate for the use of funds, the expected rate of inflation and risks associated with the reporting unit. These assets are classified within Level 3, in the event that the Company were required to measure and record such assets at fair value within its consolidated and combined financial statements.
	The Company periodically evaluates the carrying value of long-lived assets to be held and used, including definite-lived intangible assets and property plant and equipment, when events or circumstances warrant such a review. Fair value is determined primarily using anticipated cash flows assumed by a market participant, discounted at a rate commensurate with the risk involved and these assets would generally be classified within Level 3, in the event that the Company were required to measure and record such assets at fair value within its consolidated and combined financial statements.
	Additionally, financial instruments also consist of accounts receivable and accounts payable. The fair value of net accounts receivables and payables was estimated by management to approximate fair value due to the relatively short period of time to maturity for these instruments.

Debt_Arrangements

Debt Arrangements	3 Months Ended
	Apr. 04, 2015
Debt Disclosure [Abstract]
Debt Arrangements	Debt Arrangements
	On December 5, 2014, the Company, Specialty Surgical Instrumentation, Inc. and Olsen Medical, LLC (collectively, the “Borrowers”) entered into a Credit Agreement (the “Credit Agreement”) with General Electric Capital Corporation, which provides for a revolving loan of up to $20,000, subject to a borrowing base limitation (the "Revolving Loan"). The Credit Agreement, which is senior and secured, had an aggregate of $1,500 and $3,876 outstanding as of April 4, 2015 and January 3, 2015, respectively. Any amounts outstanding under the Revolving Loan are due and payable on December 5, 2019. Amounts outstanding under the Credit Agreement bear interest at LIBOR plus 3.25%, or the Base Rate (which will generally be based on the prime rate as published by the Wall Street Journal from time to time) plus 2.25%. Borrowings under the Revolving Loan are classified as current due to the existence of cash dominion by GECC combined with the Company’s intent to repay all borrowings during 2015. In February 2015, the Company amended the Credit Agreement to allow for a collateral cash account which is excluded from the cash dominion.  This collateral cash account is included in other asset in consolidated balance sheets.
	As of April 4, 2015, the Company early adopted ASU 2015-03, Simplifying the Presentation of Debt Issuance Costs, which requires debt issuance costs be recognized in the balance sheet as a direct deduction from the related debt liability rather than as an asset. As such, the Company had deferred debt issuance costs of $412 and $434 as of April 4, 2015 and January 3, 2015, respectively, netted against its revolving line of credit shown on the face of the condensed consolidated and combined balance sheets.
	The Credit Agreement is guaranteed by Symmetry Surgical International, Inc., S.S.I.I. LP, LLC and Symmetry Medical SSI Real Estate LLC (collectively the “Guarantors”). The Revolving Loan is secured by a first-priority perfected security interest in substantially all of the tangible and intangible assets of the Borrowers and the Guarantors, including a pledge of 100% of the equity interests of each domestic subsidiary.
	The Credit Agreement includes customary covenants for facilities of this type, including limitations on indebtedness, liens, investments and acquisitions, loans and advances, mergers and consolidations, sales of assets, and dividends, stock repurchases and other restricted payments. In addition, the Credit Agreement requires that Borrowers maintain a minimum fixed charge coverage ratio of 1.25 to 1.00 tested at the close of each fiscal quarter beginning March 31, 2015, based on the preceding four fiscal quarters, and maintain at all times minimum liquidity (the sum of cash, cash equivalent and available borrowing capacity under the borrowing base) of $1,500, tested monthly.
	The Company was in compliance with all covenants as of April 4, 2015.

Net_Parent_Investment

Net Parent Investment	3 Months Ended
	Apr. 04, 2015
Former Parent Company Investment [Abstract]
Net Parent Investment	Net Transfers to Symmetry Medical Inc.
	Net transfers to Symmetry Medical Inc. in the condensed consolidated and combined statements of cash flow represent changes in amounts owed to or due from SMI. Prior to the Spin-Off, these were presented within net parent investment on the condensed consolidated balance sheet and represented SMI's initial investment in the Company, subsequent allocations of expenses, and advances and receipts of cash resulting from the operations of the U.S. business with SMI. The balance reflected the U.S. based Company’s participation in SMI’s U.S. centralized cash management program under which all of the U.S. Company’s cash receipts were remitted to SMI and all cash disbursements were funded by SMI. Other transactions that affected net parent investment included general and administrative expenses incurred by SMI and allocated to the Company. Subsequent to the Spin-Off, the Company no longer participates in cash management and funding arrangements with SMI.

Related_Party_Transactions

Related Party Transactions	3 Months Ended
	Apr. 04, 2015
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions
	Related party transactions of the Company include the purchase and sale of surgical instruments and cases between SMI's OEM Solutions Business and the Company, centralized cash and debt management in the U.S. and the allocation of certain general and administrative, selling and marketing and research and development expenses from SMI to the Company, prior to separation.
	Sales of surgical instruments and cases from the Company to SMI's OEM Solutions business were recorded at intercompany transfer prices and totaled $69 for the three month period ended March 29, 2014.
	Purchases of surgical instruments and cases from SMI's OEM Solutions business by the Company were recorded at intercompany transfer prices and totaled $1,513 for the three month period ended March 29, 2014.
	The U.S. based portion of the Company participated in SMI's U.S. centralized cash management program under which all of the U.S. Business’s cash receipts were remitted to SMI and all cash disbursements were funded by SMI. The cash receipts were not kept at specific accounts and instead commingled with cash from other SMI entities. As cash was disbursed and received by SMI prior to separation, it has been accounted for through net parent investment.
	During fiscal 2014, SMI provided various general and administrative and selling and marketing services to the Company including legal assistance, marketing services, human resources, financial reporting and analysis, information technology and insurance management, as well as research and development services.
	It is SMI's policy to charge these expenses first on the basis of direct usage when identifiable, with the remainder allocated among SMI’s subsidiaries on the basis of their respective revenue. These allocations totaled $1,437 for the three months ended March 29, 2014. These changes may not be indicative of the actual expense that would have been incurred had the Company operated as an independent, publicly-traded company for the periods presented.

Income_Taxes

Income Taxes	3 Months Ended
	Apr. 04, 2015
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes
	The provision for income taxes differs from that computed at the Federal statutory rate of 35% in 2015 due to the impact of foreign operations.

Commitments_and_Contingencies

Commitments and Contingencies	3 Months Ended
	Apr. 04, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies
	Unconditional Purchase Obligations.  The Company has a contract to purchase finished instruments through August 2019. Based on contractual pricing at April 4, 2015, the minimum purchase obligation totaled $1,762.  Purchases under the contract totals approximately $403 for the three months ended April 4, 2014.  These purchases are not in excess of forecasted requirements.
	Legal & Environmental Matters.  The Company is involved, from time to time, in various contractual, product liability, patent (or intellectual property) and other claims and disputes incidental to its business. Currently, there is no environmental or other litigation pending or, to the knowledge of the Company, threatened, that the Company expects to have a material adverse effect on its financial condition, results of operations or liquidity. While litigation is subject to uncertainties and the outcome of litigated matters is not predictable with assurance, the Company currently believes that the disposition of all pending or, to the knowledge of the Company, threatened claims and disputes, individually or in the aggregate, should not have a material adverse effect on the Company’s consolidated and combined financial condition, results of operations or liquidity.
	Under the terms of the separation agreement between the Company and SMI, the Company agreed to indemnify SMI and its related entities from and against any and all liabilities relating to, arising out of or resulting from: any failure by the Company to pay, perform or otherwise promptly discharge any of the liabilities the Company agreed to assume with the Spin-Off; any of the Company's liabilities defined in the Merger Agreement; and any breach of any of the Merger Agreement, Separation Agreement or IP Cross-License Agreement. Liabilities that result from these obligations could result in significant, and in some cases uninsured, financial obligations. The Company does not believe this will have a significant impact on its financial position, results of operations or cash flows.
	In September 2013, Xodus Medical Inc., Alessio Pigazzi and Glenn Keilar (collectively “Xodus”) filed suit against Prime Medical, LLC (“Prime”), and Specialty Surgical Instrumentation, Inc. d/b/a Symmetry Surgical Inc. in the United States District Court for the Western District of Pennsylvania under cause number 2:13-cv-01372-AJS. In the lawsuit Xodus alleged that Prime, a manufacturer of products Symmetry Surgical distributes, had infringed on two of its patents, U.S. Patent No. 8,511,314 and US Patent No. 8,464,720 (the “Xodus Patents”) and that Symmetry Surgical was liable to it for damages resulting from selling products that infringed on the Xodus Patents.  Symmetry Surgical’s Distribution Agreement with Prime provides Symmetry Surgical with full indemnification for these claims, and Prime has paid for all costs of litigation thus far.   On February 24, 2014 the U.S. Patent and Trademarks Office ("USPTO") found substantial questions regarding the patentability of the Xodus Patents and on July 10, 2014 the USPTO rejected both of the Xodus Patents.  Xodus has appealed to the full Board of the USPTO, a process that could take over a year to conclude.  Should the USPTO reverse its prior two findings, and should the US District Court find that Prime’s products infringe on the Xodus Patents, then Symmetry Surgical may be found liable to Xodus for some percentage of its sales of the Prime products, to the extent that Prime is unable to satisfy its indemnity obligations.
	On September 29, 2014, a purported class action complaint challenging the company’s former parent’s merger and the Company’s spin-out as a stand-alone public company was filed by Resolution Partners, an alleged stockholder of SMI, and all others similarly situated, in the Kosciusko Circuit Court in the state of Indiana. The complaint named as defendants Symmetry Medical Inc. (“SMI”), the members of the board of directors of SMI, Genstar Capital LLC, Tecomet’s sponsor (‘‘Genstar’’), Tecomet, Holdings and TecoSym Inc. The complaint generally alleges, among other things, that the members of the SMI board of directors breached their fiduciary duties to Resolution Partners and SMI stockholders during merger negotiations and by entering into the Merger Agreement and approving the Merger, and that Genstar and Tecomet allegedly aided and abetted such alleged breaches of fiduciary duties. The complaint further alleges that the joint proxy statement/prospectus filed by Symmetry Surgical with the SEC on September 5, 2014, which contained the preliminary proxy statement of SMI, was misleading or omitted certain allegedly material information. The complaint sought, among other relief, injunctive relief enjoining consummation of the Merger, compensatory and/or rescissory damages in an unspecified amount and costs and fees. The parties settled the suit prior to the consummation of the transaction, for no additional consideration and a few additional disclosures filed in a Form 8-k, although left the issue of a claim for fees and costs for resolution at a later time, either through agreement or via a court hearing. The Company has agreed with SMI to share equally in any fee award, up to 50% of the remaining insurance deductible. The Company does not believe this will have a significant impact on its financial position, results of operations or cash flows.

Net_Income_Loss_Per_Share

Net Income (Loss) Per Share	3 Months Ended
	Apr. 04, 2015
Earnings Per Share [Abstract]
Net Income (Loss) Per Share	Net Income (Loss) Per Share
	The following table sets forth the computation of earnings per share.
		Three Months Ended
		4-Apr-15		29-Mar-14
		(unaudited)
	Net income (loss) for basic earnings per share:
	Income (loss) available to common shares - Basic	$	756	$	(368	)
	Basic weighted average common shares outstanding	9,587		9,587
	Net income (loss) attributable to common shareholders	$	0.08	$	(0.04	)
	Net income (loss) for diluted earnings per share:
	Income (loss) available to common shares - Diluted	$	756	$	(368	)
	Basic weighted average common shares outstanding	9,587		9,587
	Effect of dilution	16		—
	Diluted weighted average common shares outstanding	9,603		9,587
	Net income (loss) attributable to common shareholders	$	0.08	$	(0.04	)
	As of April 4, 2015, the diluted weighted average share calculation does not include performance based restricted stock awarded in 2014 totaling 500 shares due to the performance criteria not being completed.
	For periods prior to the separation, the numerator for both basic and diluted earnings per share was net income (loss) attributable to the Company. The denominator for basic and diluted earnings per share was calculated using the number of shares of Symmetry Surgical common shares outstanding on the distribution date.

Product_and_Geographic_Informa

Product and Geographic Information	3 Months Ended
	Apr. 04, 2015
Segment Reporting [Abstract]
Product and Geographic Information	Product and Geographic Information
	The Company has one operating segment which is the lowest level for which discrete financial information is available and the operating results are regularly reviewed by management. The Company sells a broad range of reusable stainless steel and titanium hand-held instruments and retractor systems, single use and sterile disposable surgical products (vein strippers, SECTO dissectors, tonsil sponges and surgical marker pens), and sterilization containers. These products are typically used in the surgical specialties of spine, general/OB-GYN, microsurgery/neurosurgery, orthopedics, laparoscopy, cardiovascular, thoracic, and general surgery in the hospital setting as well as surgery centers and in select physician offices. These products are viewed in two categories by management; Symmetry Surgical Branded Products and Alliance Partners Products. Symmetry Surgical Branded Products include all products sold under brand names managed by the Company whereas Alliance Partners Products are brands the Company distributes for others in defined markets.
	Revenues to External Customers:
		Three Months Ended
	Revenue by Geography	4-Apr-15		29-Mar-14
		(unaudited)
	United States	$	17,854	$	17,977
	International	2,920		2,585
	Total revenues	$	20,774	$	20,562
	Revenues by Product:
		Three Months Ended
		4-Apr-15		29-Mar-14
		(unaudited)
	Symmetry Surgical branded	$	18,861	$	16,830
	Alliance Partners	1,913		3,732
	Total revenues	$	20,774	$	20,562

Recently_Adopted_Accounting_Pr1

Recently Adopted Accounting Pronouncements Recently Adopted Accounting Pronouncements (Policies)	3 Months Ended
	Apr. 04, 2015
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Recently Adopted Accounting Pronouncements	Revenue from Contracts with Customers:   In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606), which supersedes the revenue recognition requirements in Accounting Standards Codification (“ASC”) 605, Revenue Recognition. This ASU is based on the principle that revenue is recognized to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods and services. The ASU also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to obtain or fulfill a contract. The effective date will be the first quarter of fiscal year 2017 using one of two retrospective application methods. The Company is currently assessing the potential impact of the adoption of ASU 2014-09 on its financial statements and related disclosures.
	Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity:  In April 2014, the FASB issued ASU 2014-08, Presentation of Financial Statements (Topic 205) and Property, Plant and Equipment (Topic 360), Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity. This update modifies the requirements for reporting discontinued operations. Under the amendments in ASU 2014-08, the definition of discontinued operation has been modified to only include those disposals of an entity that represent a strategic shift that has (or will have) a major effect on an entity’s operations and financial results. This update also expands the disclosure requirements for disposals that meet the definition of a discontinued operation and requires entities to disclose information about disposals of individually significant components that do not meet the definition of discontinued operations. This update is effective for annual and interim periods beginning after December 15, 2014. The Company does not expect this ASU to have an impact on its financial position, results of operations or cash flows.
	Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period. In June, 2014, the FASB issued ASU 2014-12, Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period. This new guidance states that a performance target that affects vesting of a share-based payment and that could be achieved after the requisite service period is a performance condition under ASC 718. This update is effective for annual and interim periods beginning after December 15, 2015. The Company does not believe this ASU will have an impact on the its financial statements.
	Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern. In August, 2014, the FASB issued ASU 2014-15, Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern. This new guidance requires management to evaluate whether there is substantial doubt about the entity’s ability to continue as a going concern and, if so, disclose that fact. Management will also be required to evaluate and disclose whether its plans alleviate that doubt. The standard is effective for annual periods ending after December 15, 2016 with early adoption permitted. The Company does not believe this ASU will have an impact on its financial statements.

Inventories_Tables

Inventories (Tables)	3 Months Ended
	Apr. 04, 2015
Inventory Disclosure [Abstract]
Schedule of Inventory	Inventories consist of the following:
		April 4,		January 3,
		2015		2015
		(unaudited)
	Raw material	$	1,051	$	880
	Work-in-process	502		530
	Finished goods	23,605		22,731
		25,158		24,141

Property_and_Equipment_Tables

Property and Equipment (Tables)	3 Months Ended
	Apr. 04, 2015
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment	Property and equipment, including depreciable lives, consists of the following:
		April 4,			January 3,
		2015			2015
		(unaudited)
	Buildings and improvements (20 to 40 years)	$	610		$	575
	Machinery and equipment (5 to 15 years)	1,474			1,499
	Office equipment (3 to 5 years)	4,086			4,039
	Construction-in-progress	9			43
		6,179			6,156
	Less accumulated depreciation	(3,607		)	(3,388		)
		$	2,572		$	2,768

Net_Income_Loss_Per_Share_Tabl

Net Income (Loss) Per Share (Tables)	3 Months Ended
	Apr. 04, 2015
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following table sets forth the computation of earnings per share.
		Three Months Ended
		4-Apr-15		29-Mar-14
		(unaudited)
	Net income (loss) for basic earnings per share:
	Income (loss) available to common shares - Basic	$	756	$	(368	)
	Basic weighted average common shares outstanding	9,587		9,587
	Net income (loss) attributable to common shareholders	$	0.08	$	(0.04	)
	Net income (loss) for diluted earnings per share:
	Income (loss) available to common shares - Diluted	$	756	$	(368	)
	Basic weighted average common shares outstanding	9,587		9,587
	Effect of dilution	16		—
	Diluted weighted average common shares outstanding	9,603		9,587
	Net income (loss) attributable to common shareholders	$	0.08	$	(0.04	)

Product_and_Geographic_Informa1

Product and Geographic Information (Tables)	3 Months Ended
	Apr. 04, 2015
Segment Reporting [Abstract]
Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area	Revenues to External Customers:
		Three Months Ended
	Revenue by Geography	4-Apr-15		29-Mar-14
		(unaudited)
	United States	$	17,854	$	17,977
	International	2,920		2,585
	Total revenues	$	20,774	$	20,562
Schedule of Product Information	Revenues by Product:
		Three Months Ended
		4-Apr-15		29-Mar-14
		(unaudited)
	Symmetry Surgical branded	$	18,861	$	16,830
	Alliance Partners	1,913		3,732
	Total revenues	$	20,774	$	20,562

Basis_of_Presentation_Details

Basis of Presentation (Details)	3 Months Ended								12 Months Ended
	Apr. 04, 2015	Jan. 03, 2015	Sep. 27, 2014	Jun. 28, 2014	Mar. 29, 2014	Jan. 02, 2016	Oct. 03, 2015	Jul. 04, 2015	Jan. 02, 2016
Organization, Consolidation and Presentation of Financial Statements [Line Items]
Number of weeks in interim quarter	91 days	98 days	91 days	91 days	91 days
Minimum [Member]
Organization, Consolidation and Presentation of Financial Statements [Line Items]
Number of weeks in fiscal year	364 days
Maximum [Member]
Organization, Consolidation and Presentation of Financial Statements [Line Items]
Number of weeks in fiscal year	371 days
Scenario, Forecast [Member]
Organization, Consolidation and Presentation of Financial Statements [Line Items]
Number of weeks in fiscal year									371 days
Number of weeks in interim quarter						91 days	91 days	91 days

Inventories_Details

Inventories (Details) (USD $)	Apr. 04, 2015	Jan. 03, 2015
In Thousands, unless otherwise specified
Inventory Disclosure [Abstract]
Raw material	$1,051	$880
Work-in-process	502	530
Finished goods	23,605	22,731
Inventories, net	$25,158	$24,141

Property_and_Equipment_Details

Property and Equipment (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Apr. 04, 2015	Jan. 03, 2015
Property, Plant and Equipment [Line Items]
Property and equipment, gross	6,179	$6,156
Less accumulated depreciation	-3,607	-3,388
Property and equipment, net	2,572	2,768
Buildings and Improvement [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	610	575
Buildings and Improvement [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	20 years
Buildings and Improvement [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	40 years
Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	1,474	1,499
Machinery and Equipment [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	5 years
Machinery and Equipment [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	15 years
Office Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	4,086	4,039
Office Equipment [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	3 years
Office Equipment [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	5 years
Construction-in-Progress [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	9	$43

Debt_Arrangements_Details

Debt Arrangements (Details) (USD $)	3 Months Ended
	Apr. 04, 2015	Mar. 29, 2014	Jan. 03, 2015	Dec. 05, 2014
Schedule of Long-term and Short-term Debt [Line Items]
Revolving line of credit, net	$1,088,000		$3,442,000
Revolving Credit Facility [Member] | Secured Debt [Member]
Schedule of Long-term and Short-term Debt [Line Items]
Maximum borrowing capacity				20,000,000
Revolving line of credit, net	1,500,000		3,876,000
Deferred debt issuance costs	412,000	434,000
Fixed charge coverage ratio	1.25
Liquidity requirement	$1,500,000
Revolving Credit Facility [Member] | Secured Debt [Member] | LIBOR [Member]
Schedule of Long-term and Short-term Debt [Line Items]
Basis spread on variable rate	3.25%
Revolving Credit Facility [Member] | Secured Debt [Member] | Base Rate [Member]
Schedule of Long-term and Short-term Debt [Line Items]
Basis spread on variable rate	2.25%

Related_Party_Transactions_Det

Related Party Transactions (Details) (Symmetry Medical Inc. [Member], USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 29, 2014
Symmetry Medical Inc. [Member]
Related Party Transaction [Line Items]
Sales	$69
Purchases	1,513
Expenses	$1,437

Income_Taxes_Narrative_Details

Income Taxes (Narrative) (Details)	3 Months Ended
	Apr. 04, 2015
Income Tax Disclosure [Abstract]
Federal statutory income tax rate	35.00%

Commitments_and_Contingencies_

Commitments and Contingencies (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Apr. 04, 2015
Commitments and Contingencies Disclosure [Abstract]
Unconditional purchase obligations contract price	$1,762
Unrecorded unconditional purchase obligation, purchases	$403

Net_Income_Loss_Per_Share_Deta

Net Income (Loss) Per Share (Details) (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Apr. 04, 2015	Mar. 29, 2014
Net income (loss) for basic earnings per share:
Income (loss) available to common shares - Basic	$756	($368)
Basic weighted average common shares outstanding	9,587	9,587
Net income (loss) attributable to common shareholders	$0.08	($0.04)
Net income (loss) for diluted earnings per share:
Income (loss) available to common shares - Diluted	$756	($368)
Basic weighted average common shares outstanding	9,587	9,587
Effect of dilution	16	0
Diluted weighted average common shares outstanding	9,603	9,587
Net income (loss) attributable to common shareholders	$0.08	($0.04)
Performance-based shares excluded in the calculation of diluted EPS	500

Product_and_Geographic_Informa2

Product and Geographic Information (Details Textual)	3 Months Ended
	Apr. 04, 2015
	segment
Segment Reporting [Abstract]
Number of operating segments	1

Product_and_Geographic_Informa3

Product and Geographic Information (Details 1) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Apr. 04, 2015	Mar. 29, 2014
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$20,774	$20,562
United States [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	17,854	17,977
International [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$2,920	$2,585

Product_and_Geographic_Informa4

Product and Geographic Information (Details 2) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Apr. 04, 2015	Mar. 29, 2014
Segment Reporting Information [Line Items]
Revenue	$20,774	$20,562
Symmetry Surgical [Member]
Segment Reporting Information [Line Items]
Revenue	18,861	16,830
Alliance Partners [Member]
Segment Reporting Information [Line Items]
Revenue	$1,913	$3,732