BOTHELL, WA - November 20, 2008 - Sonosite, Inc. (Nasdaq:SONO), the world leader and specialist in hand-carried ultrasound for the point-of-care, today announced the S-FAST™ Vascular Access option, a streamlined, affordable solution for hospitals wanting to incorporate ultrasound into their emergency departments to facilitate the accuracy and safety of commonly performed interventional emergent procedures. "Sonosite has led the way with innovative products designed for point-of-care use," said Diku Mandavia, MD, FACEP, FRCPC, Attending Staff, Department of Emergency Medicine, Cedars-Sinai Medical Center and Clinical Associate Professor Emergency Medicine, LA County + USC Medical Center, Los Angeles. "Both the U.S. Agency for Health Care Research and Quality (AHRQ) and the National Institute for Clinical Excellence (NICE) in the UK have recommended ultrasound guidance of central vascular access as a standard of care for ensuring patient safety. It's difficult to imagine practicing emergency medicine today without ultrasound guidance."
"Using ultrasound reveals anatomy previously unseen. It removes the practitioners' blindfold, and allows them to first confirm whether a procedure is indicated and then perform the procedure more safely and effectively by visually guiding the intervention," said Paul R. Sierzenski, MD, RDMS, FAAEM, FACEP, Director of Emergency, Trauma and Critical Care Ultrasound, and Director, Emergency Ultrasound Fellowship, Christiana Care Health System of Newark, Delaware.… [Read more]
Revenue Grows 19% to $243.5 Million Operating Income Grows 400% to $22.4 Million Company Reports FY'08 - EPS of $1.18
BOTHELL, WA - February 12, 2009 - Sonosite, Inc. (Nasdaq:SONO), the world leader and specialist in hand-carried and point-of-care ultrasound, today announced financial results for the fourth quarter and full year ended December 31, 2008. Fourth quarter 2008 worldwide revenue grew to $70.2 million, an increase of 8% over the fourth quarter of 2007. Full year 2008 revenue grew to $243.5 million, up 19% over 2007. Changes in foreign currency rates decreased worldwide revenue in the fourth quarter by 4.2% and had a favorable impact of 0.6% on the year.
The company reported a net income increase of 184% for the fourth quarter of 2008 to $12.1 million or $0.69 per diluted share, compared to $4.3 million or $0.25 per diluted share in 2007. For the full year net income grew 199% to $20.6 million, or $1.18 per diluted share, compared to $6.9 million, or $0.40 per diluted share in 2007. Net income in the fourth quarter and full year 2008 included a non-recurring, pre-tax charge of $3.0 million from terminated acquisition talks and severance payments, as well as a $15.7 million pre-tax gain from the repurchase of $80.3 million of senior convertible notes.… [Read more]
Bothell, WA, December 1, 2008 - Sonosite, Inc. (Nasdaq:SONO), the world leader and specialist in hand-carried ultrasound for the point-of-care, introduced today the S-GYN™ ultrasound tool, a streamlined, custom-designed solution for gynecologists who want to perform imaging for diagnosis and procedural guidance right in the patient exam room. "I have two great big machines in my office, but for a lot of what I'm doing in my day-to-day practice, such as evaluating abnormal bleeding, checking the ovaries or uterine structures for polyps or fibroids - I can do all that with the S-GYN without having to move my patient out of the exam room," said Shaunie Keys, MD of Evergreen Women's Care, in Kirkland, WA.… [Read more]
2008 Revenue Grows 19% to $243 Million Fourth quarter revenue grows 8% to $70 million
BOTHELL, WA - January 12, 2009 - 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, 2008. The company said that fourth quarter revenue grew 8% to approximately $70 million compared to the prior year's fourth quarter. For the year, worldwide revenue is estimated to have increased by 19% to approximately $243 million. Changes in foreign currency rates decreased worldwide revenue by an estimated 4% in the fourth quarter and had a favorable impact of 0.6% on the year.
"The M-Turbo® and S Series™ product lines drove a year of record revenue and operating income in 2008," said Kevin M. Goodwin, Sonosite President and CEO. "We gained operating leverage and expect to achieve an operating margin in 2008 that is toward the upper end of our guidance of 9 -10% as compared to 2.2% in 2007. We are particularly pleased with this accomplishment in light of the difficult US economic environment and its impact on hospital capital spending which we expect will continue into 2009. Customers deferred, but did not cancel, approximately 10% of our forecasted revenue in the fourth quarter.… [Read more]
Repurchase to result in $11 million pre-tax gain in Q4 Q3 Conference Call scheduled today at 1:30 pm Pacific/4:30 pm Eastern
BOTHELL, WA - October 30, 2008 - Sonosite, Inc. (Nasdaq:SONO), the world leader and specialist in hand-carried ultrasound for point-of-care medicine, today announced that it has repurchased in the open market an aggregate of $60.3 million of the principal outstanding amount of its 3.75% convertible notes due 2014 for total consideration of approximately $47.4 million in cash, excluding accrued interest. Following these repurchases, convertible notes representing $164.7 million of principal debt are outstanding. As a result of the repurchases that have occurred to date, Sonosite expects to report a pre-tax gain of approximately $11 million, net of deferred issuance costs, in the fourth quarter. In connection with the issuance of these convertible notes in July 2007,… [Read more]
New Color Flow, New Remote Control, New Workflow Integration Capabilities Sonosite Demonstrating SonoGT at SCCM Congress in Nashville, February 1-3.
BOTHELL, WA- January 30, 2009- Sonosite, Inc. (Nasdaq:SONO), the world leader and specialist in hand-carried ultrasound for point-of-care medicine, announced today that its new SonoGT™ Global Target technology is now available on Sonosite's award-winning, mountable S Series™ ultrasound tools.
The new performance platform delivers enhanced color flow sensitivity, wireless connectivity, including a remote control for hands-free system control and workflow integration for multiple point-of-care application markets. First introduced for Sonosite's versatile M-Turbo® systems in October 2008, Sonosite now brings the powerful SonoGT engine to effectively transform the S Series product line into the S-Turbo Series™. Sonosite plans to begin customer shipments of the new S Series systems with SonoGT technology in February.… [Read more]
BOTHELL, WA - November 21, 2008 - Sonosite, Inc. (Nasdaq:SONO), the world leader and specialist in hand-carried ultrasound at the point-of-care, today announced that HealthTrust Purchasing Group has awarded Sonosite a contract for portable ultrasound. The contract covers Sonosite's M-Turbo®, S Series™ and MicroMaxx® product lines. "We are very pleased to contract with one of the nation's most respected health purchasing groups," said Kevin M. Goodwin, Sonosite President and CEO. "Sonosite's products provide medical professionals with the power of ultrasound visualization and the benefits of hand-carried portability in an easy-to-use, rugged design that comes with the industry's only standard 5-year warranty." Sonosite's portable ultrasound products provide point-of-care imaging across multiple clinical applications. Using Sonosite hand-carried ultrasound, the HealthTrust membership will have access at the point-of-care to ultrasound diagnostic imaging and real-time visual guidance for interventional procedures.
About HealthTrust Purchasing Group… [Read more]
BOTHELL, WA- March 16, 2009 - Sonosite, Inc. (Nasdaq:SONO), the world leader and specialist in hand-carried ultrasound for point-of-care medicine, announced today the first remote control for veterinary ultrasound and a new transducer for reproductive and musculoskeletal applications in horses and other large animals. The company has begun customer shipments of the new transducer and plans to begin shipping the SonoRemote™ control in the spring. The new L52x/10-5 MHz transducer is the eighth transducer to join Sonosite's suite of veterinary probes and is compatible with both Sonosite's M-Turbo® and S-VetMed™ ultrasound products.
For ultimate exam convenience and efficiency, the SonoRemote control is based on Bluetooth® wireless technology, can be voice or touch activated and can adjust system controls from within a radius of 10 meters. "A wireless remote control is a ground-breaking innovation for veterinarian ultrasonography. The freedom that Sonosite's remote control will provide during an equine ultrasound exam will significantly improve clinical efficiency and safety," said Diane Isbell, DVM, Livermore, California. "With the SonoRemote control, I will be able to maintain a safe working distance between my patient, the ultrasound system and me while efficiently working through my examination.… [Read more]
BOTHELL, WA - December 30, 2008 - Sonosite, Inc. (Nasdaq:SONO) the world leader and specialist in hand-carried ultrasound at the point-of-care, said today that Kevin M. Goodwin, President and CEO, will present at the 27th Annual JP Morgan Healthcare Conference being held at the Westin St. Francis Hotel in San Francisco from January 12-15, 2009. Mr. Goodwin's presentation will be webcast live on January 12th beginning at 3:00 pm Pacific Time. An audio replay of the presentation will be available for 30 days following and can be accessed via the Investors Section of Sonosite's website at www.sonosite.com.
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. The company employs over 600 people worldwide.… [Read more]
BOTHELL, WA- January 12, 2009- Sonosite, Inc. (Nasdaq:SONO), the world leader and specialist in hand-carried ultrasound for the point-of-care, introduced today the S-Women's Health ultrasound tool. The newest product in Sonosite's S Series™ product line is an innovative, custom-designed solution to enable women's health clinicians to provide comprehensive care in the patient exam room. It joins the M-OB/Gyn Office™ and the S-Gyn™ ultrasound tools as part of Sonosite's innovative suite of products for women's health.
"The S-Women's Health is great to have in the exam room because if a patient comes in with a lump, I am able to quickly and easily determine if it is something like fibrocystic thickening, or if it requires additional evaluations," said Deanna J. Attai, MD, FACS, Center for Breast Care in Burbank, California. "When you consider the quality and affordability of the system and the fact that you can pick it up and take it to the operating room, you just can't get a better tool for your practice than the S-Women's Health system."… [Read more]
Conference Call Webcast Live Today at 1:30 pm Pacific/4:30 pm Eastern
BOTHELL, WA - October 27, 2009 - Sonosite, Inc. (Nasdaq:SONO), the world leader and specialist in hand-carried ultrasound for the point-of-care, today reported financial results for the third quarter and nine months ended September 30, 2009.
REVENUE
Revenue in the third quarter of 2009 was $53.6 million, a decrease of 13% compared to the third quarter of 2008. For the nine months of 2009, revenue was $157.7 million, a decrease of 9% compared to the nine months of 2008. Overall revenue included $3.0 million for the quarter and nine months just ended from the recently acquired CardioDynamics International Corporation (CDIC). Excluding CDIC, revenue in the third quarter was $50.6 million, a decrease of 18% compared to the third quarter of 2008, and $154.7 million for the nine months just ended. Foreign exchange had zero effect on third quarter revenue, but had a negative impact of $6.7 million or 4% for the nine months just ended.
OPERATING INCOME AND CASH FLOW
Overall, “reported” third quarter operating income was $2.3 million, including charges from CDIC of $3.1 million related to operating results as well as acquisition and integration. Operating income in the third quarter excluding CDIC was $5.4 million, a 10.7% operating margin versus a $3.0 million or 5.6% operating margin in the second quarter 2009.
Cash Flow… [Read more]
Agreement Affirms Value of Patents and Establishes Innovative Research Foundation
BOTHELL, WA - October 19, 2009 - Sonosite, Inc. (Nasdaq:SONO), the world leader and specialist in hand-carried ultrasound for the point-of-care, announced today that the company has resolved all pending patent litigation with General Electric Company (GE). This includes the lawsuit filed by GE in 2008 in the federal district court in Madison, Wisconsin (case no. 08-cv-298-bbc) to invalidate Sonosite's US Patent No. 5,722,412 (the '412 patent) and a pending appeals in the Federal Circuit (case nos. 2008-1567, 2008-1568) of certain rulings in a patent infringement case filed by GE in the same Wisconsin court in 2007.
The settlement also resolves a revocation action filed by GE in the Federal Patent Court in Germany relating to the '412 patent. Under the terms of the settlement agreement, GE will make an up front payment to Sonosite of $21 million and pay an ongoing royalty on US sales and production of hand-carried ultrasound systems weighing less than ten pounds in exchange for a perpetual nontransferable worldwide license to the '412 patent family. Sonosite will receive these royalties until the '412 patent expires in 2016.… [Read more]
Company Reports Per-Share Profit of $0.06 for Fourth Quarter 2002; 2002 Worldwide Revenues Total $73.0 Million, Revenue Growth of 64% vs. Fourth Quarter 2001 and 60% Year Over YearBOTHELL, WA, February 13, 2003 - Sonosite, Inc. (Nasdaq: SONO), the creator of the hand-carried ultrasound market, today released financial results for the fourth quarter and full year ended December 31, 2002. For the quarter, Sonosite reported revenues of $25.1 million compared to $15.3 million for the fourth quarter of 2001. For 2002, Sonosite reported revenues of $73.0 million compared to $45.7 million in 2001.Sonosite reported a net profit of $869,000, or $0.06 per share, for the quarter compared to a net loss of $2.4 million, or $0.21 per share, for the comparable quarter in the prior year. Gross margins increased for the eighth consecutive quarter to 60.3 percent, compared to 57.6 percent in the fourth quarter of 2001. For the year, the net loss decreased to $7.7 million, or $0.59 per share, compared to a net loss of $16.4 million, or $1.59 per share, for 2001. As of December 31, 2002, cash, cash equivalents and investment securities totaled $65.8 million.… [Read more]
Live Presentation Available Via Audio-WebcastBOTHELL, WA, March 19, 2004 - Sonosite, Inc. (Nasdaq: SONO), the leader in high performance, hand-carried ultrasound, today announced that Kevin Goodwin, president and chief executive officer of Sonosite, will present at the Invest Northwest 2004 Conference at 11:40 a.m. (PST) on Tuesday, 23 March 2004 at the Bell Harbor Conference Center in Seattle. Interested investors can listen to a live audio-webcast at http://www.wallstreetwebcasting.com/webcast/in2/sono. The audiocast will be archived on the site until Sunday, 23 May 2004 at 8:00 p.m. (PST).About SonositeSonosite, Inc. (www.sonosite.com) is the innovator and world leader in hand-carried ultrasound, with an installed base of more than 20,000 systems. The Company, headquartered near Seattle, Washington is represented by eight subsidiaries and a global distribution netwok 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 450 people worldwide.… [Read more]
Fully Featured Hand-Carried Ultrasound System ProvidesComplete Capabilities for Echo Studies;New Capabilities Address $460 Million International Shared Services MarketNEW ORLEANS, March 8, 2004 - Sonosite, Inc. (Nasdaq: SONO), the worldwide leader in high-performance, hand-carried ultrasound, today announced at the American College of Cardiology ACC 53rd Annual Scientific Session that it is adding cardiology capabilities to the TITAN system, the company's newest generation, high-resolution, hand-carried system that enables ultrasound to be available quickly wherever and whenever it is needed. Customer deliveries are scheduled for mid-June; current customers will be able to upgrade to the enhanced TITAN system capabilities. Sonosite will be introducing these new TITAN capabilities in Booth #344 during ACC in New Orleans from March 7-10.… [Read more]
Live Presentation Available Via Audio-WebcastBOTHELL, WA, March 2, 2004 - Sonosite, Inc. (Nasdaq: SONO), the leader in high performance, hand-carried ultrasound, today announced that Mike Schuh, chief financial officer of Sonosite, will present at the Robins Group Small-Cap Conference at 09:15 a.m. (PST) on Thursday, March 4, 2004 at the Omni San Francisco Hotel. Interested investors can hear a live audio-webcast at http://www.veracast.com/webcasts/robins. The audiocast will be archived on the site until Monday, 5 April 2004 at 5:00 p.m. (PST). About SonositeSonosite, Inc. (www.sonosite.com) is the innovator and world leader in hand-carried ultrasound, with an installed base of more than 20,000 systems. The Company, headquartered near Seattle, Washington is represented by eight subsidiaries and a global distribution netwok 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 450 people worldwide.… [Read more]
New Features include Advanced Analysis and Calculations Package for Obstetricians, Gynecologists and Fertility SpecialistsUpgrade Available to TITAN Installed Base via CompactFlash CardCustomer Shipments to Begin this WeekPHILADELPHIA, May 3, 2004 - (Nasdaq: SONO), the worldwide leader in high-performance, hand-carried ultrasound, today announced at the 52nd Annual Meeting of the American College of Obstetricians and Gynecologists (ACOG) that it is adding expanded OB/Gyn calculations and measurement capabilities on TITAN, the company's newest generation, hand-carried system. Sonosite will begin shipments of the new capabilities this week and customers can easily upgrade their existing TITAN systems via a CompactFlash card. Sonosite will be introducing these new capabilities in Booth #865 during the ACOG meeting in Philadelphia from May 3 - 5, 2004. "OB/Gyn physicians have been anchor market adopters of Sonosite's technology since we introduced the first hand-carried ultrasound systems," said Kevin M. Goodwin, Sonosite president and CEO. "Their input has been critical as we developed TITAN and this latest upgrade to address their needs for a high-performance system that was robust enough to travel with them from patient to patient." … [Read more]
BOTHELL, WA, May 15, 2003 - Sonosite, Inc. (Nasdaq: SONO), a leader in point-of-care ultrasound, today announced the resignation of Ernest Mario, Ph.D., from Sonosite's board of directors. Dr. Mario, who has served on the board since December 1999, plans to focus his time and energy on his recent appointment as chairman and chief executive officer of Reliant Pharmaceuticals, a privately held pharmaceutical company located in New Jersey."Dr. Mario has been a trusted advisor and highly respected member of our board," said Kirby L. Cramer, Sonosite's chairman of the board. "We thank him for his service and leadership, and wish him well.""Ernie has contributed to Sonosite's development since 1997, before our spin off from ATL Ultrasound, while he was a board member for ATL," said Kevin M. Goodwin, president and CEO. "With Ernie's departure we now have eight board members, and we have no immediate plans to fill the position." Under Sonosite's bylaws, the board can elect a director to fill a vacancy resulting from a resignation."It has been a pleasure to be involved with Sonosite's development, and I believe the Company has a solid, long-term future as its technology and business model continue to evolve," said Dr. Mario.About Sonosite… [Read more]
Live Presentation Available Via Audio-WebcastBOTHELL, WA, September 15, 2003 - Sonosite, Inc. (Nasdaq: SONO), a leader in the point-of-care ultrasound market, today announced that Kevin Goodwin, president and CEO of Sonosite, will present at the UBS Warburg Global Conference at 08:30 a.m. (EDT) on Thursday, September 25, 2003 at the Plaza Hotel, New York City. Interested investors can hear a live audio-webcast at http://www.ubswarburg.com. The audiocast will be archived on the site until October 25, 2003.About SonositeSonosite, Inc. (www.sonosite.com) is the innovator and world leader in hand-carried ultrasound, with an installed base of more than 20,000 systems. The Company, headquartered near Seattle, Washington is represented by eight subsidiaries and a global distribution netwok 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 450 people worldwide.… [Read more]
Introducing Maximum Modular Imaging, a New Ultrasound Platform Based on Advanced ASIC TechnologyBOTHELL, WA, April 9, 2003 - Sonosite, Inc. (NASDAQ: SONO), the leader in point of care ultrasound, today announced the introduction of its new TITAN high-resolution modular ultrasound system. The TITAN system provides health care professionals with state of the art, high-resolution imaging wherever needed for responsive, more rapid patient care. The TITAN system's modular design includes three major benefits: stationary and mobile usage; point-of-care connectivity; and a flexible, cost-effective path that enables users to acquire new components and software applications. This new ultrasound modularity is based on the next generation of Sonosite's proprietary ASIC (Application Specific Integrated Circuit) technology. … [Read more]