SonoSite posts Q2 revenue gain and profit

Jul 30, 2006

Compact-ultrasound developer SonoSite of Bothell, WA, said that rising sales and expanding gross profit margins helped the company post double-digit revenue growth in the second quarter, while the company swung into the black from a net loss in the same period a year ago.

For the quarter (end-June 30), SonoSite posted an 18% gain in second-quarter revenue to $39.5 million, compared with $33.5 million in the second quarter of 2005. The company also reported net income of $1.3 million, compared with a net loss of $2.1 million in the same quarter a year ago.

In the second quarter, total revenue from sales in the U.S. grew 19% to $20.2 million, while international revenue advanced 17% to $19.3 million compared with the same quarter last year.

For the first half of 2006, worldwide revenue rose 13% to $76.4 million, compared with $67.5 million in the same period in 2005. SonoSite posted six-month net income of $931,000, compared with a net loss of $1.3 million in the same period last year. The first half of 2005 included more than $3 million of enterprise project revenue from U.S. and international government entities and impacted the growth comparison with 2006.

By AuntMinnie.com staff writers
July 31, 2006

SonoSite adds engineering VPs, June 16, 2006

SonoSite to provide iPod video training, June 12, 2006

SonoSite disputes GE marketing claims, May 15, 2006

SonoSite posts first-quarter loss, April 27, 2006