SonoSite revenues grew in its third quarter, but softness in some markets led to a dip in net income. The compact ultrasound technology firm reported revenues of $40.3 million, up 16% compared with the $34.8 million booked a year ago.
For the period (end-September 30), the Bothell, WA-based vendor had net income of $475,000, compared with net income of $1.4 million last year. While SonoSite experienced strong performance in a number of key U.S. sales territories and international markets, the breadth of performance was not what the company had expected, said president and CEO Kevin Goodwin.
SonoSite has implemented new sales initiatives, and expects to see the U.S. growth rate regain momentum and international growth to accelerate, he said.
In other news, SonoSite vice president and chief operating officer Bradley Garrett will be retiring at the end of 2006. Garrett's responsibilities will be handled by two SonoSite executives; vice president of engineering Jim Gilmore will oversee advanced development and all engineering functions, while vice president of operations John Lowell will be responsible for manufacturing and supply chain activities.
By AuntMinnie.com staff writers
October 31, 2006
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