BOTHELL, WA - June 11, 2010 – Sonosite, Inc. (NASDAQ: SONO), the world leader and specialist in bedside and point-of-care ultrasound, today announced a stock repurchase program under which the company may purchase up to $50 million of its common stock over the next twelve months. Since February 2010, Sonosite has repurchased a total of approximately 3 million shares of its common stock through a modified “Dutch Auction” tender offer at a total cost of $88.8 million.
Sonosite may repurchase its common stock from time to time, in amounts, at prices and at such times as it deems appropriate, all subject to market conditions and other considerations. Sonosite may make repurchases in the open market, in privately negotiated transactions, accelerated repurchase programs or in structured share repurchase programs. The repurchases will be conducted in compliance with the SEC’s Rule 10b-18 and applicable legal requirements and shall be subject to market conditions and other factors.
The company also expects to establish Rule 10b5-1 trading plans from time to time to effect such purchases when appropriate. The program does not obligate Sonosite to acquire any particular amount of common stock and the program may be modified or suspended at any time at the company’s discretion. Any repurchases would be funded from available cash on hand. As of March 31, 2010, Sonosite had approximately $178 million in cash, cash equivalents and short-term investment securities.
About Sonosite, Inc.… [Read more]
BOTHELL, WA – June 2, 2010 -
Sonosite, Inc. (Nasdaq: SONO), the world leader and specialist in bedside and point-of-care ultrasound, said today that Kevin M. Goodwin, President and CEO, will present at the Jefferies 2010 Global Life Sciences Conference being held at the Grand Hyatt Hotel in New York City, June 8 – 11, 2010. Mr. Goodwin’s presentation will be webcast live on June 11, 2010 at 8:00 a.m. Eastern Time. An audio replay will be available for 30 days following and can be accessed via Sonosite’s website at www.sonosite.com/investorinformation/webcasts.
About Sonosite
Sonosite, Inc. (www.sonosite.com) is the innovator and world leader in hand-carried ultrasound and industry leader in impedance cardiography equipment. Headquartered near Seattle, the company is represented by ten subsidiaries and a global distribution network in over 100 countries. Sonosite’s small, lightweight ultrasound systems are expanding the use of ultrasound across the clinical spectrum by cost-effectively bringing high performance ultrasound to the point of patient care.… [Read more]
Technology Leader in Ultra High-Frequency Micro-Ultrasound, Visualsonics, Generated $30M in Trailing Twelve Month Revenues and $5M of EBITDAS. Company is a Leader in the $350M Pre-Clinical Imaging Research Market Acquisition Stages Move of Ultra High-Frequency Ultrasound into Clinical Medicine Conference Call Webcast Live Today at 1:30 pm Pacific/4:30 pm Eastern BOTHELL, WA - May 27, 2010 - Sonosite, Inc. (NASDAQ: SONO), the world leader and specialist in bedside and point-of-care ultrasound, today announced that it has signed an agreement to acquire privately held Visualsonics, a Toronto-based company focused on ultra high-frequency micro-ultrasound technology. The aggregate transaction value will be approximately $71 million net of cash and debt. Visualsonics is the technology leader in real-time ultra high-frequency micro-ultrasound that presently serves the rapidly growing pre-clinical research market.… [Read more]
BOTHELL, WA – May 3, 2010 – Sonosite, Inc. (Nasdaq:SONO), the world leader and specialist in hand-carried ultrasound for the point-of-care, and Physio-Control, Inc., the global leader in the development and delivery of emergency medical response solutions, today announced a market development collaboration for point-of-care ultrasound in the emergency medical services (EMS) market. This alliance will enable Sonosite to expand its presence in the pre-hospital settings with the support of Physio-Control resources and extensive sales force. Under the terms of the agreement, the Physio-Control sales organization will assist in introducing Sonosite’s products to the EMS market.
The implementation of Sonosite’s hand-carried ultrasound systems allows first responders to bring improved care and immediate diagnostics directly to the point of patient care. With the ability to quickly assess, diagnose and triage patients at the scene of an accident, medical personnel in first response vehicles such as ambulances and helicopters will be able to pre-notify hospitals of a patient’s arrival, which could lead to improved clinical outcomes.… [Read more]
Management Projects Revenue Growth of 10-12% for the Full Year 2010 Conference Call Webcast Live Today at 1:30 pm Pacific/4:30 pm Eastern
BOTHELL, WA – April 26, 2010 – Sonosite, Inc. (Nasdaq:SONO), the world leader and specialist in hand-carried ultrasound for the point-of-care, today reported financial results for the first quarter ended March 31, 2010.
REVENUE
Revenues in the first quarter of 2010 were $56 million, an increase of 8% compared to the first quarter of 2009. Revenues from the recently acquired CardioDynamics (CDIC) were $3.2 million for the quarter. Revenues were up 2%, excluding CDIC, and included a 4% currency gain. "We saw some encouraging signs of improvement in our US hospital channel with year-over-year revenue growth of 12% and order booking rates that increased at a much faster rate," said Kevin M. Goodwin, Sonosite President and CEO. "With stable pricing, we delivered solid progress on EBIT with growth of 68% alongside an increase in EPS of 60%. We also experienced broadening success globally as 20 of 25 revenue regions achieved or exceeded forecast."… [Read more]
BOTHELL, WA - April 7, 2010 - Sonosite, Inc. (Nasdaq:SONO), the world leader and specialist in hand-carried ultrasound for the point-of-care, announced today that it will report the company’s first quarter financial results on Monday, April 26, 2010 at the close of market and will host a conference call at 1:30 p.m. PT/4:30 p.m. ET. The call will be broadcast live and can be accessed via Sonosite’s website at http://www.sonosite.com/investorinformation/webcasts/.
A replay of the audio webcast will be available beginning April 26, 2010 at 5:30 p.m. PT and can be accessed until May 10, 2010 at 9:59 p.m. PT by dialing (719) 457-0820 or toll-free (888) 203-1112. The confirmation code 4670785 is required to access the replay. Additionally, the call will be archived on Sonosite’s website.
About Sonosite
Sonosite, Inc. (www.sonosite.com) is the innovator and world leader in hand-carried ultrasound and industry leader in impedance cardiography equipment. Headquartered near Seattle, the company is represented by ten subsidiaries and a global distribution network in over 100 countries. Sonosite’s small, lightweight systems are expanding the use of ultrasound across the clinical spectrum by cost-effectively bringing high-performance ultrasound to the point of patient care.… [Read more]
Sonosite to distribute UltraLinq's web-based ultrasound image management and reporting service.
BOTHELL, WA - March 25, 2010 - Sonosite, Inc. (Nasdaq:SONO), the world leader and specialist in hand-carried ultrasound for the point-of-care and UltraLinq Healthcare Solutions, Inc., a leader in web-based ultrasound and image study management, today announced a new distribution agreement. This partnership provides Sonosite with the exclusive right to market the UltraLinq service within Emergency Medicine and a non-exclusive right to market UltraLinq within other medical specialties.
"The decision to work with Sonosite was a logical evolution of our distribution strategy. Sonosite brings to UltraLinq unparalleled expertise within the point-of-care ultrasound market, and a national sales team which understands its customers. With expanded access, Sonosite's customers will benefit from UltraLinq's ability to deliver ‘Anytime, Anywhere Image Management & Reporting,'said UltraLinq's CEO, Stephen Farber.
"Recent technological advances have dramatically improved the capabilities and clinical flexibility of point-of-care ultrasound, bringing diagnostic imaging directly to the patient's bedside and other environments where ultrasound was not previously possible. UltraLinq facilitates the ability to access records from any location, whether in the next room or across the globe."… [Read more]
BOTHELL, WA - March 10, 2010 - Sonosite, Inc. (Nasdaq:SONO), the world leader and specialist in hand-carried ultrasound for the point-of-care, today announced that John Bowers, Senior Vice President of U.S. Business Unit and Strategic Development, will present at the Washington Biotechnology and Biomedical Association (WBBA) Life Science Innovation Northwest Conference. The conference will be held at the Bell Harbor International Conference Center in Seattle March 16-17, 2010. Mr. Bowers will be presenting on March 17th at 8:45 a.m. Pacific Time.
About Sonosite
Sonosite, Inc. (www.sonosite.com) is the innovator and world leader in hand-carried ultrasound. Headquartered near Seattle, the company is represented by ten subsidiaries and a global distribution network in over 100 countries. Sonosite’s small, lightweight systems are expanding the use of ultrasound across the clinical spectrum by cost-effectively bringing high performance ultrasound to the point of patient care.… [Read more]
Prestigious Awards Recognize Excellence in New Product Development, Marketing and Innovation
BOTHELL, WA - March 4, 2010 - Sonosite, Inc. (Nasdaq:SONO), the world leader and specialist in hand-carried ultrasound for the point-of-care, announced today that the 6 lb. NanoMaxx™ ultrasound system was selected as a finalist for the prestigious Edison Best New Product Awards. The awards are inspired by the enormous contributions of renowned inventor Thomas Edison and honor significant achievements in new product development, marketing, and innovation. Sonosite's NanoMaxx system is an extremely portable, high-resolution imaging tool that provides point-of-care visualization to a variety of medical specialties.
Empowering physicians to meet the highest standard of patient care, the NanoMaxx system targets applications that will improve patient safety and minimize complications. With one-dial control, advanced proprietary imaging algorithms, a 20 second boot-up time, and a rugged form factor (successfully drop-tested from three feet), the NanoMaxx system is a breakthrough technology that truly meets an unmet clinical need. The Edison Award finalists were selected by a rigorous peer-reviewed voting system, which comprised of an estimated 2,000 members of not-for-profit Marketing Executives Network Group (MENG), America's top executives, and academic researchers.… [Read more]
Company Purchases 2,960,350 Shares of Its Common Stock at $30.00 Per Share
BOTHELL, WA - February 25, 2010 - Sonosite, Inc. (Nasdaq:SONO), the world leader and specialist in hand-carried ultrasound for the point-of-care, today announced the final results of its modified "Dutch Auction" tender offer which expired at 5:00 p.m. New York City time on February 19, 2010. Based on the final count by the depositary, an aggregate of 2,960,350 shares of common stock were properly tendered and not withdrawn at prices at or below $30.00.
Accordingly, pursuant to the terms of the Offer to Purchase, the Letter of Transmittal and applicable securities laws, Sonosite has accepted for purchase 2,960,350 shares of its common stock at a purchase price of $30.00 per share. These shares represent approximately 16.9% of the shares outstanding as of February 24, 2010. With the completion of the tender offer, Sonosite will have approximately 14,509,464 shares of common stock outstanding.… [Read more]
BOTHELL, WA - February 22, 2010 - Sonosite, Inc. (Nasdaq:SONO), the world leader and specialist in hand-carried ultrasound for the point-of-care, today announced the preliminary results of its modified "Dutch Auction" tender offer which expired at 5:00 p.m. New York City time on February 19, 2010.
Based on the preliminary analysis by the depositary, an aggregate of 2,973,050 shares were properly tendered and not withdrawn, including approximately 1,073,209 shares that were tendered through notice of guaranteed delivery, at prices at or below $30.00. Accordingly, pursuant to the terms of the Offer to Purchase, the Letter of Transmittal and applicable securities laws, Sonosite expects to accept for payment up to an aggregate of 2,973,050 shares of its common stock at a purchase price of $30.00 per share.
The tender offer was made pursuant to an Offer to Purchase and Letter of Transmittal, each dated January 19, 2010, filed with the Securities and Exchange Commission on January 10, 2010, as amended on January 28, 2010 and February 16, 2010.
The Dealer Manager for the tender offer was J.P. Morgan Securities, Inc. and the Information Agent was Georgeson Inc.
The number of shares to be purchased in the tender offer and the price per share are preliminary. The determination of the final number of shares to be purchased is subject to confirmation by the depositary of the proper delivery of the shares properly tendered and not withdrawn.… [Read more]
Q4 2009 Operating Income Grows 117% as Operating Margins Hit 15.4% Excluding Non-recurring Items Conference Call Webcast Live Today at 1:30 pm Pacific/4:30 pm Eastern
BOTHELL, WA - February 11, 2010 - Sonosite, Inc. (Nasdaq:SONO), the world leader and specialist in hand-carried ultrasound for the point-of-care, today reported financial results for the fourth quarter and year ended December 31, 2009.
REVENUE
Revenues in the fourth quarter of 2009 were $69.7 million, a decrease of 1% compared to the fourth quarter of 2008. Full year of 2009 revenues were $227.4 million, down 7% versus full year of 2008. Revenues for the partial year acquisition of CardioDynamics were $4.2 million for the fourth quarter and $7.1 million for the full year of 2009. Excluding partial year revenues from CDIC, Sonosite fourth quarter revenues were $65.5 million, down 7% versus the fourth quarter of 2008. Full year revenues excluding CDIC were $220.3 million, a decrease of 10% compared to 2008. Changes in foreign currency rates increased worldwide revenues by 4% in the fourth quarter and decreased revenues by 2% for the full year.
OPERATING INCOME AND CASH FLOW Fourth Quarter Results… [Read more]
BOTHELL, WA – January 21, 2010 – Sonosite, Inc. (Nasdaq:SONO), the world leader and specialist in hand-carried ultrasound for the point-of-care, said today that it will report the company’s fourth quarter financial results on Thursday, February 11, 2010 at the close of market and will host a conference call at 1:30 p.m. PT/4:30 p.m. ET.
The call will be broadcast live and can be accessed via Sonosite’s website at www.sonosite.com/investorinformation/webcasts. A replay of the audio webcast will be available beginning February 11, 2010 at 5:30 p.m. PT and can be accessed until February 25, 2010 at 9:59 p.m. PT by dialing (719) 457-0820 or toll-free (888) 203-1112. The confirmation code 7406921 is required to access the replay. Additionally, the call will be archived on Sonosite’s website.
About Sonosite
Sonosite, Inc. (www.sonosite.com) is the innovator and world leader in hand-carried ultrasound. Headquartered near Seattle, the company is represented by ten subsidiaries and a global distribution network in over 100 countries. Sonosite’s small, lightweight systems are expanding the use of ultrasound across the clinical spectrum by cost-effectively bringing high-performance ultrasound to the point of patient care.… [Read more]
BOTHELL, WA – January 19, 2010 – Sonosite, Inc. (Nasdaq:SONO), the world leader and specialist in hand-carried ultrasound for the point-of-care, today announced the commencement of its previously announced tender offer to repurchase up to $100 million of the Company's common stock for cash through a modified "Dutch Auction" tender offer. As previously announced, under the terms of the tender offer, Sonosite shareholders have the opportunity to tender some or all of their shares at a price within the range of $26.10 to $30.00 per share.
Based on the number of shares tendered and the prices specified by the tendering shareholders, Sonosite will determine the lowest per share price within the range that will enable it to buy $100 million in shares, or such lesser number of shares that are properly tendered. All shares accepted for payment will be paid the same price, regardless of whether a shareholder tendered such shares at a lower price within the range. At the minimum price of $26.10 per share, Sonosite would repurchase a maximum of 3,831,417 shares, which represents approximately 22% of Sonosite's currently outstanding common stock.… [Read more]
BOTHELL, WA – January 11, 2010 – Sonosite, Inc. (Nasdaq:SONO), the world leader and specialist in hand-carried ultrasound for the point-of-care, today announced that its Board of Directors has authorized Sonosite to repurchase up to $150 million of the Company’s common stock or outstanding convertible notes for cash. In connection with the repurchase authorization, the company will purchase up to $100 million of the Company’s common stock through a modified “Dutch Auction” tender offer.
Sonosite intends to commence the tender offer during the week of January 18, 2010. Under the terms of the proposed tender offer, Sonosite shareholders will have the opportunity to tender some or all of their shares at a price within the range of $26.10 to $30.00 per share. Based on the number of shares tendered and the prices specified by the tendering shareholders, Sonosite will determine the lowest per share price within the range that will enable it to buy $100 million in shares, or such lesser number of shares that are properly tendered.… [Read more]
BOTHELL, WA – January 5, 2010 – Sonosite, Inc. (Nasdaq:SONO), the world leader and specialist in hand-carried ultrasound for the point-of-care, today provided preliminary revenue results for the fourth quarter and year ended December 31, 2009. Overall 2009 revenue was approximately $69 million in the fourth quarter and $227 million for the year. Overall revenue included $4 million for the fourth quarter and $7 million for the year from the recently acquired CardioDynamics International Corporation (CDIC). Excluding CDIC, revenue was down 7% in the fourth quarter and down 10% for the year compared to the prior year.
For the quarter, a decrease 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. “Exiting 2009, we were encouraged by an uptick in momentum during the fourth quarter,” said Kevin Goodwin, Sonosite President and CEO. “On a constant currency basis, international revenue was level in the fourth quarter and grew 1% for the year. Our US Direct business was down compared to the prior year but continued to grow sequentially. Strong US bookings at the year end and a positive outlook by our sales force have provided some renewed optimism heading into 2010.” The revenue estimates are preliminary. Sonosite plans to report complete fourth quarter and 2009 financial results on February 11, 2010 after the close of the financial markets.
Conference Call Information… [Read more]
BOTHELL, WA – December 28, 2009 – Sonosite, Inc. (Nasdaq: SONO), the world leader and specialist in hand-carried ultrasound for the point-of-care, announced today that Kevin M. Goodwin, President and CEO, will present at the 28th Annual J.P. Morgan Healthcare Conference being held at the Westin St. Francis Hotel in San Francisco, January 11-14, 2010. Mr. Goodwin’s presentation will be webcast live on January 12, 2010 beginning at 10:30 a.m. Pacific Time. An audio replay will be available for 30 days following and can be accessed via Sonosite’s website at www.sonosite.com/investorinformation/webcasts.
About Sonosite
Sonosite, Inc. (www.sonosite.com) is the innovator and world leader in hand-carried ultrasound. Headquartered near Seattle, the company is represented by ten subsidiaries and a global distribution network in over 100 countries. Sonosite’s small, lightweight systems are expanding the use of ultrasound across the clinical spectrum by cost-effectively bringing high performance ultrasound to the point of patient care.… [Read more]
Industry leaders, Decision Makers and Customers Gathered in Europe to Experience the Latest Technology for Patient Safety
BOTHELL, WA - December 7, 2009 – Sonosite Inc., the world leader and specialist in hand-carried ultrasound for the point-of-care, announced today that the company has completed the launch of the 6 pound NanoMaxx™ ultrasound tool in Europe. The latest system to join Sonosite’s suite of specialized products for point-of-care visualization, the NanoMaxx system made its debut during fall exhibitions, road shows and key events hosted in France, Germany, Italy, Spain, UK and a number of other countries. Sonosite hosted various events to introduce the NanoMaxx system. At these gatherings, physicians from multiple medical specialties participated in a day of clinical education and hands on scanning led by key opinion leaders in the industry.
“This was a great opportunity for physicians to learn more about the NanoMaxx system and to be educated on the latest ultrasound practices, especially with risk management and patient safety practices becoming more stringent in the hospital setting,” said Mike Fernandez, Sonosite, General Manager, Europe and Latin America. “With the ability to expedite workflow, guide interventional procedures and provide visualization and diagnostics at any point-of-care location, the NanoMaxx system is truly a powerful tool that will raise the standard of healthcare practices around the globe.”… [Read more]
Thousands of Physicians Worldwide are Benefitting from SonoAccess BOTHELL, WA - November 9, 2009 - Sonosite, Inc. (Nasdaq:SONO), the world leader and specialist in hand-carried ultrasound for point-of-care medicine, today announced the expansion of the SonoAccess™ iPhone® application to include musculoskeletal specialties. SonoAccess is the first iPhone application to provide physicians with a comprehensive multimedia database of ultrasound resource materials.
Dedicated to providing innovative educational tools to musculoskeletal physicians, the SonoAccess app is customized for rheumatologists, orthopedic surgeons, physiatrists and sports medicine physicians. Partnering with leading physicians and educators within the ultrasound community, Sonosite has created a comprehensive library of scanning technique videos with case studies and an expansive image gallery to meet the needs of musculoskeletal physicians.… [Read more]