Conference Call Today on Q4 and 2006 Results at 1:30 PT/4:30ET
BOTHELL, WA - February 15, 2007 - Sonosite, Inc. (Nasdaq:SONO), the world leader in hand-carried ultrasound, today announced financial results for the fourth quarter and full year ended December 31, 2006.
As the company previously announced on January 8, 2007, worldwide revenue in the fourth quarter of 2006 grew 20% to $54.4 million compared with $45.2 million in the fourth quarter of 2005. For the full year of 2006, worldwide revenue grew 16% to $171.1 million compared with $147.5 million for 2005.
Sonosite reported net income of $5.8 million or $0.34 per diluted share for the fourth quarter of 2006 compared with net income of $5.3 million or $0.32 per diluted share in the fourth quarter of 2005. For the full year of 2006, Sonosite reported net income of $7.2 million or $0.43 per diluted share compared with net income of $5.4 million or $0.34 per diluted share in the comparable period of the prior year. Results for both the fourth quarter and full year of 2006 were impacted by an increase in stock-based compensation expense of $1.4 million for the quarter and $6.9 million for the year. This impact was partially offset by a lower tax rate resulting from a benefit in the fourth quarter attributable to the reversal of the valuation allowance for international deferred tax assets.
… [Read more]
BOTHELL, WA - May 18, 2007 - Sonosite, Inc. (Nasdaq: SONO), the world leader in hand-carried ultrasound, today announced that the company will present at the Citigroup 2007 Healthcare Conference being held at the Hilton Hotel in New York City from May 22-24, 2007.
Kevin Goodwin, President and CEO, will give a presentation which will be webcast live on May 23 from 2:00 - 2:25 pm Eastern Daylight Time.
An audio webcast of the investor presentation can be accessed via the "Investors" Section of Sonosite's website at www.sonosite.com. The webcast will be available beginning May 23, 2007 and will remain posted for 30 days.
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 eight subsidiaries and a global distribution network in over 90 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. The company employs approximately 550 people worldwide.… [Read more]
BOTHELL, WA - March 13, 2007 - Sonosite, Inc. (Nasdaq: SONO), the world leader in hand-carried ultrasound, today announced that the company will present at the Washington Biotechnology and Biomedical Association (WBBA) 2007 Invest Northwest CEO and Investor Forum being held at the Bell Harbour Conference Centre in Seattle from March 20 - 21.
Kevin Goodwin, President and CEO, will participate in the panel, "The Imageing Industry in the Northwest and Beyond," on March 21 from 10:15 - 11:10 am. Anne Bugge, Vice President, Corporate Affairs will present during the Investor Forum on March 20 from
2:00 - 2:20 pm.
An audio webcast of the investor presentation can be accessed via the "Investors" Section of Sonosite's website at ir.sonosite.com. The webcast will be available beginning March 21, 2007 and will remain posted for 30 days.
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 eight subsidiaries and a global distribution network in over 90 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. The company employs approximately 550 people worldwide.… [Read more]
Live Webcast Available
BOTHELL, WA - June 8, 2006 - Sonosite, Inc. (Nasdaq:SONO), the world leader in hand-carried ultrasound, today announced that Kevin Goodwin, President & CEO, will present at the Pacific Growth Equities 2006 Life Sciences Growth Conference at the InterContinental Mark Hopkins Hotel in San Francisco on Monday, June 12, 2006 at 1:30 pm (PT).
A link to the audio-only webcast will be available at http://ir.sonosite.com, beginning June 12, 2006 at 1:30 pm (PT) and ending September 12, 2006.
About Sonosite
Sonosite, Inc. (www.sonosite.com) is the innovator and world leader in hand-carried ultrasound, with an installed base of more than 25,000 systems. The company, headquartered near Seattle, is represented by eight subsidiaries and a global distribution network in over 75 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. The company employs approximately 500 people worldwide.… [Read more]
Siemens to distribute Sonosite hand-carried systems in world's third largest ultrasound market
BOTHELL, WA and ERLANGEN, GERMANY - April 21, 2006 - Sonosite, Inc. (Nasdaq:SONO), the world leader in hand-carried ultrasound, announced today that the company has signed an agreement with Siemens Medical Solutions for the German ultrasound market. Under the terms of the agreement, Siemens will market and distribute Sonosite's MicroMaxx and TITAN systems into Germany's general imaging and point-of-care hospital markets.
"We are honored that Siemens, a preeminent technology and global market leader in medical imaging, has selected Sonosite as its partner for hand-carried ultrasound in Germany," said Dieter Schwartmann, Sonosite Vice President, Europe. "We believe that working together will create and expand opportunities for both companies as well as accelerate the adoption of hand-carried ultrasound in this strategically important market."
"The Sonosite systems are a good complement to the Siemens ultrasound product line," said Klaus Hambuechen, President of the Siemens Medical Solutions Ultrasound Division. "Siemens can now respond to the very special needs of care in mobile ultrasound."
About Sonosite, Inc.… [Read more]
Hand-Carried Ultrasound Available to Conduct FAST Exams at the Formula 1 Race Track
BOTHELL, WA - June 19, 2006 - Sonosite Inc. (Nasdaq:SONO) the world leader in hand-carried ultrasound, said today that Dr. Jean-Marc Chauny, an emergency room physician at Hopital du Sacre-Coeur de Montreal, will use Sonosite's MicroMaxx system, the company's high performance hand-carried ultrasound system, at the Canada 2006 Grand Prix Formula 1 race in Montreal on June 23-25. Dr. Chauny directs the trauma team at the on-site medical center, which will use the MicroMaxx to evaluate trauma and make the critical, time-sensitive decisions necessary to deliver swift and appropriate medial care.
Dr. Chauny has staffed the trauma team at the Canada Grand Prix medical center for more than 20 years. Each June, Sacre-Coeur assembles a team of 100 doctors, nurses and other medical professionals to treat drivers, track staff and the 100,000 spectators that attend the race. The track clinic features the same equipment as the Level 1 trauma room in his emergency department and is located just 15 meters from the track. If a participant suffers a traumatic injury, the team can examine, stabilize, and if necessary, transport the patient to the hospital via helicopter in less than seven minutes.
… [Read more]
Leading Health Care Group Purchasing Organization Adds State-of-Art,Hand-Carried Ultrasound Systems to its National Contract Portfolio
BOTHELL, WA - March 27, 2006 - Sonosite, Inc. (Nasdaq:SONO), the world leader in hand-carried ultrasound, today announced it has signed a new three-year, group purchasing agreement with Premier Purchasing Partners, LP for hand-carried ultrasound equipment, accessories and service. Premier Inc. is a strategic healthcare alliance entirely owned by more than 200 of the nation's leading not-for profit hospital and healthcare systems. These organizations operate or are affiliated with nearly 1,400 hospital facilities and 37,000 other care sites.
"Sonosite has had a long-standing relationship with Premier and we are pleased to again be selected as a provider of hand-carried ultrasound systems across the broad spectrum of clinical applications," said Kevin M. Goodwin, Sonosite President and CEO. "Our aim is to help clinicians in the Premier system deliver the highest quality care by designing ultrasound systems that can provide immediate answers and procedural guidance at the point of patient care."
… [Read more]
Video Courses Provide Immediate, Focused Tutorials on Ultrasound Procedures at the Patient Bedside NEW YORK - June, 12, 2006 - Sonosite, Inc (Nasdaq:SONO), the world leader in hand-carried ultrasound, announced an initiative today that will allow clinicians to refresh their training in specific ultrasound-guided procedures and goal-oriented examinations by viewing compelling, brief and instructionally rich refresher courses on Apple's "fifth generation iPod" with video. The announcement was made from the World Congress on Ultrasound in Emergency and Critical Care Medicine being held from June 11 -14 at the Jacob Javits Center in New York.
"The rising cost of healthcare demands that physicians become more efficient, particularly at the point of care. This requires that they retain an extraordinary amount of information. As a result, we see a great need for assistive tools that can fit in a lab coat pocket," said Daniel D. Price, MD, a staff emergency physician at Highland General Hospital in Oakland, California and Director of the Emergency Ultrasound Fellowship who also teaches at the University of California, San Francisco School of Medicine. Dr. Price helped found Mobile Medical Media, a company that creates short instructional videos to teach core procedures to doctors and medical trainees.… [Read more]
MicroMaxx system sales rise to 46% of worldwide revenueUS direct sales force shows strong momentum with 45% revenue growth
BOTHELL, WA - April 26, 2006 - Sonosite, Inc. (Nasdaq:SONO), the world leader in hand-carried ultrasound, today reported financial results for the first quarter ended March 31, 2006.
Worldwide revenue in the first quarter of 2006 grew 9% to $36.9 million compared with $34.0 million in the first quarter of 2005. The first quarter of 2005 included over $3 million of enterprise project revenue from US and international government entities and impacts the comparison with 2006. Changes in the foreign currency rates decreased the revenue growth rate by approximately 3% in the first quarter.
Overall, US revenue grew 15% in the first quarter over the prior year with sales growing 45% from direct sales. As expected, the company's US enterprise sales which are primarily comprised of sales to governmental entities declined 57% in the first quarter of 2006 due to the high volume of project orders in the comparable quarter of the prior year. International revenue grew 3% over the prior year. The prior year's first quarter also included a large government order. Changes in foreign currency rates reduced the international growth rate by 5%. US revenue accounted for 49% of total revenue in the first quarter of 2006.
… [Read more]
BOTHELL, WA - June 30, 2006 - Sonosite, Inc. (Nasdaq:SONO), the world leader in hand-carried ultrasound, announced today that its MicroMaxx ultrasound system is a recipient of the 2006 Industrial Design Excellence Awards (IDEA). The Sonosite MicroMaxx system is one of 106 award winners out of 1,494 applicants.
Sponsored by BusinessWeek and the Industrial Designers Society of America (IDSA), the IDEA awards are judged by a jury of 18 leading individuals in the design world. When reviewing applications and viewing product samples in a face-to-face evaluation, jurors focus on design innovation, benefit to the user, benefit to the client/business, ecological responsibility, aesthetics and appeal.
"This year's winners shared a few things in common," remarked juror Robyn Waters, founder and president, RW Trend LLC. "The best of the best found a way to cut through the clutter and simplify product and message. The winning designers were able to tune into the hearts and the minds of the customer, not just into market trends, and deliver smart products that reframed entire categories."
This is Sonosite's third IDEA award. In 2000, the Sonosite 180, the ultrasound industry's first hand-carried system weighing under ten pounds, won an IDEA award and in 2003 the iLook system also won an award.
… [Read more]
Medical technology executive brings 25 years of experience in Asian markets
BOTHELL, WA - February 9, 2006 - Sonosite, Inc. (Nasdaq:SONO), the world leader in hand-carried ultrasound, announced today that it has appointed Peter S.R. Hsu, managing director of Northeast Asia with responsibility for sales and service operations in China/Hong Kong, Japan, Taiwan and South Korea.
Mr. Hsu, a Taiwanese national, has worked in the medical technology field since 1981, primarily based out of China, Taiwan and Hong Kong. Most recently he was senior director of strategic market development for Philips Medical Systems Cardiac and Monitoring Systems in Andover, Mass. From 2001 to 2004, Mr. Hsu served as senior director for Philips Ultrasound Asia Pacific in Hong Kong.
"Peter's broad experience in Asia's primary medical markets is a tremendous asset for Sonosite and our future growth plans," said Graham Cox, Vice President, International. "His sales and market development expertise, in combination with a strong technical background, will accelerate our penetration into these markets."
"In this new role, Peter will be responsible for all business activities in Northeast Asia with a particular focus on building Sonosite's China business," Mr. Cox said. "Based in Shanghai, he will provide important strategic support to our existing China organization and facilitate management of other key markets in surrounding countries."
… [Read more]
BOTHELL, WA - March 8, 2006 - Sonosite, Inc. (Nasdaq: SONO), the world leader in hand-carried ultrasound, today announced that Mike Schuh, CFO and Anne Bugge, Vice President, Corporate Affairs, will present at the Washington Biotechnology and Biomedical Association (WBBA) 2006 Invest Northwest CEO and Investor Forum on Tuesday, March 21 at 11:15 am PT. The conference is being held at the Bell Harbour Conference Centre in Seattle. The presentation will include a review of the company's business strategy and historical financial results. An audio webcast can be accessed via the "Investors" Section of Sonosite's website at www.sonosite.com. The webcast will be available beginning March 21, 2006 and will remain posted for 30 days.
About Sonosite
Sonosite, Inc. (www.sonosite.com) is the innovator and world leader in hand-carried ultrasound, with an instaled base of more than 25,000 systems. The company, headquartered near Seattle, Washington, is represented by eight subsidiaries and a global distribution network in over 75 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. The company employs approximately 500 people worldwide.… [Read more]
Conference Call Accessible Via Live Webcast BOTHELL, WA - February 1, 2006 - Sonosite, Inc. (Nasdaq:SONO), the world leader in hand-carried ultrasound, today announced that the Company will report its fourth quarter and 2005 year-end results on Wednesday, February 15, 2006 at the close of market. A conference call will be held at 1:30 pm PT / 4:30 pm ET where management will discuss fourth quarter and year-end performance, outlook for 2006 and current corporate developments.
The call will be broadcast live and can be accessed via the "Investors" Section of Sonosite's website at www.sonosite.com. A replay of the audio webcast will be available beginning February 15, 2006, 4:30 pm (PT) until March 1, 2006, at 9:59 pm (PT) by dialing (719) 457-0820 or toll-free (888) 203-1112. The confirmation code, 2555824, is required to access the replay. The call will also be archived on Sonosite's website at http://ir.sonosite.com.
About Sonosite… [Read more]
BOTHELL, WA - August 11, 2011 - Sonosite, Inc. (Nasdaq:SONO), the world leader and specialist in bedside and point-of-care ultrasound, today announced the appointment of Mehran Mehrtash as Vice President and General Manager of Asia Pacific and the Middle East. Mr. Mehrtash's appointment will aid in the further development of the Asia Pacific region and the company's plans to expand its footprint in China and South Korea; two emerging markets with high growth potential.
"I am excited to welcome Mehran to the Sonosite team, said Mr. Kevin M. Goodwin, Sonosite's President and CEO. "He has a successful track record in the Asia Pacific region and his addition is imperative as we sharpen our focus on expanding in China and South Korea. With an existing appetite for new and innovative technology in these markets, I am confident that Mehran's leadership will enable the company to hit our growth targets."… [Read more]
BOTHELL, WA - July 5, 2007 - Sonosite, Inc. (Nasdaq:SONO), the world leader in hand carried ultrasound, announced it is filing today a patent infringement lawsuit against General Electric Company (GE) and certain of its affiliates in the U.S. District Court for the Western District of Wisconsin. The complaint is filed as a counterclaim to the complaint GE and its affiliates filed against Sonosite on May 15, 2007 in the same court. In parallel, Sonosite is filing its answer to the complaint denying all of GE's claims and alleging that the asserted patents are either invalid, not infringed, or both. In its counterclaim complaint, Sonosite asserts that GE and its affiliated companies infringe Sonosite's U.S. Patent Nos. 6,569,101,… [Read more]
Imaging technology advance offered on MicroMaxx curved array probes
Benefits broadly applicable across EMED, Critical Care, Anesthesia and Office exams
BOTHELL, WA - June 13, 2007 - Sonosite, Inc. (Nasdaq: SONO), the world leader in hand-carried ultrasound, announced today that its widely acclaimed SonoMB„¢ imaging advance is now available on its curved array probes, thereby extending this valuable technology to a broad range of exam types. The company began customer shipments of new MicroMaxx® systems incorporating the SonoMB technology early this week. It is available as a software upgrade at no charge to existing MicroMaxx customers. SonoMB technology is a proprietary Sonosite imaging algorithm that dramatically improves contrast resolution and reduces ultrasound artifact while providing exceptional frame rates and superior image quality for the clinician. The result is increased resolution in both the near and far field, finer definition of small structures and improved visualization of physiology and subtle tissue differences. The expansion of SonoMB technology announced today has applicability for virtually all exam types in emergency medicine, critical care, anesthesia and physician office applications.
Getting Answers Fast… [Read more]
Company to Report Complete Second Quarter Financial Results July 30, 2007 BOTHELL, WA, July 5, 2007 - Sonosite, Inc. (Nasdaq:SONO), today provided preliminary revenue results for the second quarter ended June 30, 2007. The company said that worldwide revenue grew approximately 20% to over $47 million compared to the second quarter of 2006. For the first half of 2007, worldwide revenue grew approximately 18% to about $90 million compared with $76.4 million for the first half of the prior year.
"Revenue growth in the second quarter demonstrated improving execution in our sales channels, as well as improving market share," said Kevin M. Goodwin, Sonosite President and CEO. "US business was up 16%, with the US hospital business growing quite strongly at 25% compared to the prior year's quarter. The private office channel, which continued to be affected by transition, was down 42% compared with last year, but up sequentially by 55% compared to the first quarter of this year.… [Read more]
Jim Gilmore returns to Sonosite Lee Dunbar promoted BOTHELL, WA - June 16, 2006 - Sonosite, Inc. (Nasdaq:SONO), the world leader in hand-carried ultrasound, today announced the appointment of James M. Gilmore as Vice President, Advanced Development and Ultrasound Engineering and the promotion of Lee D. Dunbar to Vice President, Premium Products Engineering.Mr. Gilmore was one of the original engineers at Sonosite when the company was spun off from ATL Ultrasound in 1998. He served as Director, Transducer Engineering for six years and played a key role in the development of the Sonosite 180, iLook and TITAN systems. In 2004, Mr. Gilmore joined GE Healthcare and served as Global Engineering Manager for Global Ultrasound Probes until his recent decision to rejoin Sonosite.
At GE he managed a staff of over 60 engineers located in the US, China, Japan, Austria, France, Norway and India and was responsible for all aspects of product definition, design, development and manufacturing engineering support of diagnostic ultrasound transducers. Mr. Gilmore's career in the ultrasound industry includes engineering management positions at ATL Ultrasound from 1991 through 1998 and at Diasonics from 1989 to 1991 as an acoustics engineer. He was honored as an ATL Technical Fellow for innovation and technical leadership in advanced phased array and multidimensional array projects and is named as an inventor on three patents for transducer technology.… [Read more]
Company reports $0.08 EPS and $0.16 EPS, excluding stock-based compensation
Conference call today at 1:30 PT/4:30ET BOTHELL, WA - July 26, 2006 - Sonosite, Inc. (Nasdaq: SONO), the world leader in hand-carried ultrasound, today announced financial results for the second quarter and first half ended June 30, 2006. Worldwide revenue in the second quarter of 2006 grew 18% to $39.5 million compared with $33.5 million in the second quarter of 2005. During the second quarter, total US revenue grew 19% to $20.2 million and international revenue grew 17% to $19.3 million compared with the prior year quarter. For the first half of 2006, worldwide revenue grew 13% to $76.4 million compared with $67.5 million for the first half of the prior year.… [Read more]