US Revenue Up 17%
International Revenue Up 7%
VisualSonics Revenue Up 30%
Conference Call Webcast Live Today at 1:30 pm Pacific/4:30 pm Eastern
BOTHELL, WA - October 21, 2010 - Sonosite, Inc. (Nasdaq:SONO), the world leader and specialist in bedside and point-of-care ultrasound, today reported financial results for the third quarter and nine months ended September 30, 2010.
REVENUE
Revenue increased 28% in the third quarter to $68.5 million and increased 18% for the nine months of 2010 to $186.1 million, as compared to the prior year.
Revenue included $8.7 million for the third quarter and nine months from the recently acquired VisualSonics (VSI).
Excluding VSI, revenue in the third quarter was $59.8 million, an increase of 12% compared to the third quarter of 2009, and $177.4 million, an increase of 12% for the nine months just ended.
… [Read more]
Revolutionary portable technology provides dynamic assessment of soft tissue and bone injuries
BOTHELL, WA - October 21, 2010 - Sonosite, Inc. (Nasdaq:SONO), the world leader and specialist in bedside and point-of-care ultrasound, and the National Basketball Association (NBA), announced today a multiyear agreement to introduce Sonosite's ultrasound technology to the NBA's medical and athletic training professionals.
As part of the agreement, Sonosite will be the preferred provider of ultrasound products to the NBA and the NBA Development League (NBA D-League). This relationship will educate the NBA and NBA D-League's team physicians and athletic trainers about Sonosite's unique diagnostic ultrasound tools that are highly portable and can assist in efficiently diagnosing, treating, and monitoring the rehabilitation of professional athletes.
… [Read more]
BOTHELL, WA - October 14, 2010 - Sonosite, Inc. (Nasdaq:SONO), the world leader and specialist in bedside and point-of-care ultrasound, today announced that its latest breakthrough in ultrasound imaging, Advanced Needle Visualization, will be featured at the American Society of Anesthesiologists 2010 Annual Meeting. This technology was first introduced in July 2010 and is a proprietary imaging algorithm that intensifies the brightness of the needle, making it clearly visible during a steep angle nerve block approach for deep targets, conditions under which the needle has previously been very difficult to image. The conference is being held in San Diego, California at the San Diego Convention Center, October 16-18, 2010
As a solution for the "lost needle phenomenon," which has been a well-known limitation in ultrasound needle imaging, anesthesiologists worldwide have quickly responded to Advanced Needle Visualization as a key tool for saving time, and improving patient safety. The algorithm enables physicians to increase confidence through visualization of the needle, which may result in less procedure time while maintaining fully-diagnostic image quality from near to far field, preserving anatomical detail.
… [Read more]
BOTHELL, WA - October 7, 2010 - Sonosite, Inc. (Nasdaq:SONO), the world leader and specialist in bedside and point-of-care ultrasound, announced today that it will report the company's third quarter financial results on Thursday, October 21, 2010 at the close of market and will host a conference call at 1:30 p.m. PT/4:30 p.m. ET on that day. 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 October 21, 2010 at 5:30 p.m. PT and can be accessed until November 4, 2010 at 9:59 p.m. PT by dialing (719) 457-0820 or toll-free (888) 203-1112. The confirmation code 7304277 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 bedside and point-of-care ultrasound and an industry leader in ultra high-frequency micro-ultrasound technology and 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]
BOTHELL, WA - September 2, 2010 - Sonosite, Inc. (Nasdaq:SONO), the world leader and specialist in bedside and point-of-care ultrasound, said today that Kevin M. Goodwin, Sonosite's President and CEO, will present at the Stifel Nicolaus Healthcare Conference being held at the Four Seasons Hotel in Boston from September 15-17, 2010.
The session will be webcast live on Wednesday, September 15 at 11:30 am, 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 bedside and point-of-care ultrasound and an industry leader in ultra high-frequency micro-ultrasound technology and impedance cardiography equipment. Headquartered near Seattle, the company is represented by fourteen 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]
First Generation Product Provides Unique Tracking and Guidance Technology for PICC Line Procedures
BOTHELL, WA - August 26, 2010 - Sonosite, Inc. (Nasdaq:SONO), the world leader and specialist in bedside and point-of-care ultrasound, announced today that it received FDA clearance for its innovative LumenVu® Catheter Guidance System. Designed to aid in the placement of peripherally inserted central catheters (PICC), the proprietary LumenVu System combines near-infrared technology with a revolutionary fiber optic stylet, which replaces a traditional guide wire, to allow visualization and real-time tracking of a catheter tip as it advances through a vein.
"Receiving FDA clearance is an important milestone in the strategic development and global commercialization of the LumenVu System and it reinforces our dedication to providing patients with improved safety and health," said Kevin M. Goodwin, Sonosite's President and CEO.
"We envision this technology ultimately advancing beyond PICC line placements and potentially into a broader range of clinical applications. This clearance also represents a significant step towards the development of a fully integrated line placement imaging solution, which will include ultrasound visualization."… [Read more]
Mr. Cramer Will Remain on the Board as Chairman Emeritus Through the End of His Term in April 2011 Sonosite's Board Adopts a Smaller and More Simplified Structure for 2011
BOTHELL, WA - August 12, 2010 - Sonosite, Inc. (Nasdaq: SONO), the world leader and specialist in bedside and point-of-care ultrasound, today announced that Kirby L. Cramer is retiring as non-executive Chairman of the Board of Directors, effective August 12, 2010. As part of the Board's succession plan, Mr. Cramer will continue to serve as a director until Sonosite's 2011 annual meeting of shareholders. Sonosite's Board is naming Robert G. Hauser, M.D., F.A.C.C., F.H.R.S. to serve as non-executive Chairman of the Board. Mr. Cramer and Dr. Hauser will begin working together to create an orderly transition process over the next several weeks.
TRUSTED ADVISOR FOR TWELVE YEARS… [Read more]
UC Irvine Leadership Takes Medical Education to the Next Level by Integrating an Innovative Ultrasound Program and Curriculum
BOTHELL, WA - August 11, 2010 - Sonosite, Inc. (Nasdaq:SONO), the world leader and specialist in bedside and point-of-care ultrasound, and the University of California, Irvine, announced today that the company and institution have signed an agreement to integrate ultrasound visualization into UC Irvine's four-year medical school curriculum.
Under the terms of this agreement, Sonosite will act as an exclusive ultrasound partner. The collaborative efforts of both UC Irvine and Sonosite will provide medical students with an active and dynamic learning experience that will transform traditional teaching methods used during medical school training. Sonosite's ultrasound systems will enable students to view anatomical structures in real-time and better understand physiological processes. This innovative ultrasound curriculum is setting the standard for other leading medical institutions and providing UC Irvine's students with the skill set and tools to improve medicine.… [Read more]
BOTHELL, WA - August 10, 2010 - Sonosite, Inc. (Nasdaq:SONO), the world leader and specialist in bedside ultrasound for the point-of-care, today announced the retirement of Mike Schuh as Chief Financial Officer. Marcus Smith has been appointed as Senior Vice President and Chief Financial Officer and will replace Mr. Schuh as he retires from his position.
"I'm incredibly fortunate to have worked with such a visionary company and dedicated leadership team over the last ten years," said Mike Schuh. "Sonosite is truly transforming medicine and will continue to make significant contributions to the healthcare industry with its innovative technology and passionate culture that is focused on improving medicine."
"I want to thank Mike for his many contributions and ten years of dedication, hard work, and excellent service," said Kevin M. Goodwin, Sonosite's President and CEO. "Mike has been instrumental in establishing a successful financial infrastructure and serving as a trusted advisor. We wish him the best of luck in retirement."
A key member of Sonosite's executive team, Mr. Smith joined the company in 2007 as Vice President of Corporate Strategy and Growth Planning. He has since led the successful acquisition of Sonosite's primary care business while he served as Sonosite's Vice President and General Manager of Cardiovascular Disease Management.… [Read more]
Revenue Rises 18% EBIT Increases 145%, Excluding Acquisition Charges Gross Margins Rise to 72% Conference Call Webcast Live Today at 1:30 pm Pacific/4:30 pm Eastern
BOTHELL, WA - July 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 second quarter and first half ended June 30, 2010.
REVENUE
Revenue increased 18% in the second quarter to $61.5 million and 13% for the first half of 2010 to $117.5 million, as compared to the prior year comparable periods. These comparisons included revenue of $3.8 million for the quarter and $7.0 million for the first half of 2010 from CardioDynamics (CDIC), which was acquired in the third quarter of 2009. SECOND QUARTER HIGHLIGHTS:
Revenue growth was led by Sonosite's US hospital channel, which was up 20%.
Revenue from the international business was impacted by a slowdown in Europe. The Company had steady performances in several other international markets and was up 2%. The International business sector profitability grew 7-8 times the "top line" growth rate, despite the slower revenue.
Pricing discipline and an improved product mix led to a 1.4 percentage point increase in gross margins to 72% for the quarter.
The Company had strong performances across all four vertical clinical markets.
EBIT and EBITDAS Second Quarter… [Read more]
Major Advancement for Regional Nerve Blocks and Other Injection Based Procedures
Highly Advanced Algorithms Were Developed Over Two Years and Aimed at Solving the Disappearing Needle Phenomenon in Anesthesia… [Read more]
BOTHELL, WA - July 8, 2010 - Sonosite, Inc. (Nasdaq:SONO), the world leader and specialist in bedside and point-of-care ultrasound, announced today that it will report the company's second quarter financial results on Monday, July 26, 2010 at the close of market and will host a conference call at 1:30 p.m. PT/4:30 p.m. ET on that day. 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 July 26, 2010 at 5:30 p.m. PT and can be accessed until August 9, 2010 at 9:59 p.m. PT by dialing (719) 457-0820 or toll-free (888) 203-1112. The confirmation code 2747293 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 bedside and point-of-care ultrasound and an industry leader in ultra high-frequency micro-ultrasound technology and 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]
BOTHELL, WA - June 30, 2010 - Sonosite, Inc. (NASDAQ: SONO), the world leader and specialist in bedside and point-of-care ultrasound, today announced that on June 30, 2010, it completed its acquisition of privately held VisualSonics, a Toronto-based company focused on ultra high-frequency micro-ultrasound technology, for $67.9 million net of cash and debt.
“This acquisition positions Sonosite for long-term growth in the pre-clinical and clinical point-of-care markets and enables the creation of potential breakthrough imaging products for both market spaces,” said Kevin M. Goodwin, Sonosite President and CEO. “With unmatched ultra high-frequency technology, which operates at five times the center frequency of a conventional ultrasound, VisualSonics’ micro-imaging technology has the potential to revolutionize clinical medicine and continue to transform pre-clinical research.”
“We are pleased to finalize this agreement with Sonosite,” said Anil Amlani, VisualSonics’ President and CEO. “Sonosite and VisualSonics share a passion for creating innovative products and driving new market opportunities.”
Under the terms of the agreement, VisualSonics will become a wholly-owned subsidiary of Sonosite, Inc. Shareholders of VisualSonics approved the acquisition.
About VisualSonics… [Read more]
BOTHELL, WA - June 29, 2010 - Sonosite, Inc. (Nasdaq: SONO), the world leader and specialist in bedside and point-of-care ultrasound, said today that the Company plans to host its second annual Analyst Day. The meeting will be held on Thursday, August 12, 2010, at the company’s headquarters in Bothell.
The Analyst Day offers Sonosite institutional and mutual fund investors the opportunity to hear from key members of Sonosite’s leadership team and learn more about the Company’s recent acquisition of VisualSonics. The agenda will also include a Q&A session with select members of the executive team.
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]
UMI to Serve as a Distributor for Sonosite Products into Private Medical Offices
BOTHELL, WA - June 22 - Sonosite, Inc. (Nasdaq:SONO), the world leader and specialist in bedside and point-of-care ultrasound and United Medical Instruments (UMI), a worldwide provider of new and pre-owned ultrasound systems, today announced a new agreement for UMI to distribute Sonosite's products into certain small office markets. Under this relationship, UMI will act as an additional distributor of Sonosite's flagship M-Turbo® and MicroMaxx® ultrasound systems and will serve as a re-seller of Sonosite's used products from its older lines. This collaboration strongly positions Sonosite to continue to expand its presence in the office markets, while offering physicians greater access and customer support.
Sonosite's point-of-care ultrasound systems are designed to provide healthcare professionals with the ability to view anatomy in a greater variety of clinical settings. With the implementation of real-time visualization, physicians in office settings are able to confidently assess, diagnose and perform interventional procedures directly in the patient's examination room.… [Read more]
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 encourageing 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]