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 staff writers
October 14, 2003

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SonoSite notches profitable quarter, February 14, 2003

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