SonoSite issues Q3 warning

Handheld ultrasound technology developer SonoSite said that it expects third-quarter revenues to be approximately $20 million, compared with $18.5 million in the third quarter of 2002. The Bothell, WA-based firm anticipates a net loss in the range of $300,000 to $500,000, compared with a net loss of $2.4 million in the third quarter last year.

The preliminary revenue numbers are lower than the company’s July 31 guidance, a shortfall SonoSite attributed to lower-than-expected U.S. government orders. This was caused by budget constraints and a sales-force transition in the visual-procedures markets. SonoSite also experienced a delay in the receipt of an expected international order valued at approximately $1.5 million.

President and CEO Kevin Goodwin said that he was disappointed in his company’s sales execution, despite revenue growth of 20% in the U.S. and Europe. SonoSite will add additional strength in marketing management, international sales, and human-resource recruitment, he said.

By AuntMinnie.com staff writers
October 14, 2003

Related Reading

SonoSite builds executive ranks, September 25, 2003

SonoSite revenues up, trims losses in Q2, August 1, 2003

SonoSite revenues up, losses down for Q1, May 1, 2003

SonoSite debuts Titan, April 10, 2003

SonoSite notches profitable quarter, February 14, 2003

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