Revenues from its 2009 acquisition of CardioDynamics International (CDIC) weren't enough to offset overall declines for SonoSite of Bothell, WA, according to the company's fourth-quarter and year-end 2009 financial report (end-December 31, 2009).
Preliminary numbers for the compact-ultrasound developer show revenues of approximately $227 million in 2009, compared with $243 million in 2008. CDIC contributed $7 million to SonoSite's overall revenues in 2009. Excluding CDIC, revenue decreased 10% for 2009 compared to 2008.
Fourth-quarter revenue fell to approximately $69 million, down 2% compared with $70.2 million in the fourth quarter of 2008. Overall revenue in the fourth quarter included $4 million from the CDIC acquisition. Without CDIC, overall revenues declined 7% compared to the same quarter a year ago.
In the fourth quarter, a drop in military orders caused a 6% revenue decline. Changes in foreign currency rates increased revenue in the fourth quarter by 4% but decreased revenue by 2% for the year.
SonoSite president and CEO Kevin Goodwin said the company is encouraged by an "uptick in momentum" in the fourth quarter, while strong U.S. bookings at the end of 2009 "have provided some renewed optimism heading into 2010."
SonoSite plans to report complete fourth-quarter and 2009 financial results on February 11 after financial markets close.
Related Reading
SonoSite expands iPhone app, November 10, 2009
SonoSite revenues, profits fall in Q3, October 28, 2009
GE, SonoSite settle patent lawsuit, October 19, 2009
SonoSite to debut NanoMaxx at ASA, October 16, 2009
SonoSite gets NanoMaxx FDA nod, October 6, 2009
Copyright © 2010 AuntMinnie.com
