SonoSite Worldwide Revenue Grows Approximately 20% in Second Quarter
July 05 2007 - 6:00AM
Business Wire
SonoSite, Inc. (Nasdaq:SONO) today provided preliminary revenue
results for the second quarter ended June 30, 2007. The company
said that worldwide revenue grew approximately 20% to over $47
million compared to the second quarter of 2006. For the first half
of 2007, worldwide revenue grew approximately 18% to about $90
million compared with $76.4 million for the first half of the prior
year. �Revenue growth in the second quarter demonstrated improving
execution in our sales channels, as well as improving market
share,� said Kevin M. Goodwin, SonoSite President and CEO. �US
business was up 16%, with the US hospital business growing quite
strongly at 25% compared to the prior year�s quarter. The private
office channel, which continued to be affected by transition, was
down 42% compared with last year, but up sequentially by 55%
compared to the first quarter of this year. The company expects
this channel to show continuing improvement as we move through the
year. The international group turned in a stellar performance with
its second consecutive quarter of 25% growth this year.� Second
quarter 2007 revenue estimates are preliminary. SonoSite plans to
report complete second quarter and first half 2007 financial
results on July 30, 2007 after the close of the financial markets
at 1 pm PT. Management will host a conference call beginning at
1:30 pm PT on July 30th that will be webcast on the company�s
website at www.sonosite.com. A replay of the audio webcast will be
available beginning July 30, 2007 at 4:30 PT until midnight PT,
August 13, 2007, by dialing (719) 457-0820 or toll-free (888)
203-1112. The confirmation code 7019486 is required to access the
replay. The call will be archived on SonoSite�s website. About
SonoSite SonoSite, Inc. (www.sonosite.com) is the innovator and
world leader in hand-carried ultrasound. Headquartered near
Seattle, the company is represented by eight subsidiaries and a
global distribution network in over 90 countries. SonoSite�s small,
lightweight systems are expanding the use of ultrasound across the
clinical spectrum by cost-effectively bringing high performance
ultrasound to the point of patient care. The company employs over
550 people worldwide. Forward-looking Information and the Private
Litigation Reform Act of 1995 Certain statements in this press
release relating to the our expected financial results for the
second quarter of 2007, our ability to achieve progress in the
execution of our growth strategy, and our future financial position
and operating results are �forward-looking statements� for the
purposes of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. These forward-looking statements are
based on the opinions and estimates of our management at the time
the statements are made and are subject to risks and uncertainties
that could cause actual results to differ materially from those
expected or implied by the forward-looking statements. These
statements are not guaranties of future performance and are subject
to known and unknown risks and uncertainties and are based on
potentially inaccurate assumptions. Factors that could affect
actual results include the risk that our quarterly accounting
review procedures or developments after the date of this release
result in changes to our results from those announced in this
release, the risk that we are unable to successfully execute our
growth strategy and the risk that we are unable to continue our
growth in revenues in future periods, as well as other factors
contained in the Item 1A. �Risk Factors� section of our Annual
Report on Form 10-K for the year ended December 31, 2006 filed with
the Securities and Exchange Commission. We caution readers not to
place undue reliance upon these forward-looking statements that
speak only as to the date of this release. We undertake no
obligation to publicly revise any forward-looking statements to
reflect new information, events or circumstances after the date of
this release or to reflect the occurrence of unanticipated events.
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