SonoSite Reports Revenue Growth of Approximately 20% in Fourth Quarter
09 January 2007 - 8:15AM
Business Wire
SonoSite, Inc. (Nasdaq:SONO) today provided preliminary revenue
results for the fourth quarter ended December 31, 2006. The company
said that revenue grew approximately 20% compared to the prior
year�s fourth quarter to about $54 million, in line with previously
issued company guidance. �We exited the fourth quarter of 2006 on a
strong note achieving the year�s highest revenue growth rate and
setting a new record for quarterly revenue,� said Kevin M. Goodwin,
SonoSite President and CEO. �We saw healthy trends in both our U.S.
and International businesses and are pleased with our growth in
point of care markets led by the MicroMaxx� system. Our U.S.
hospital and office strategy is progressing well and we are on
track with our new product initiatives. Market dynamics are robust
and we are taking the right steps to drive continued strong,
long-term growth in revenue and profitability in our business.� As
previously announced, Mr. Goodwin will be presenting at the 25th
Annual JPMorgan Healthcare Conference on Tuesday, January 9 at
10:30 am Pacific Time (PT) being held at the Westin St. Francis in
San Francisco. A link to the audio only webcast and replay will be
available at http://ir.sonosite.com. Fourth quarter 2006 revenue
estimates are preliminary. SonoSite plans to report complete fourth
quarter and 2006 financial results on February 15, 2007 after the
close of the financial markets at 1 p.m. PT. Management will host a
conference call beginning at 1:30 p.m. PT on February 15th that
will be webcast on the company�s website at www.sonosite.com. A
replay of the audio webcast will be available beginning February
15, 2007 at 4:30 PT until midnight PT, March 1, 2007, by dialing
(719) 457-0820 or toll-free (888) 203-1112. The confirmation code
4198625 is required to access the replay. The call will be archived
on SonoSite�s website. About SonoSite SonoSite, Inc.
(www.sonosite.com), the innovator and world leader in hand-carried
ultrasound, is headquartered near Seattle and 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 over 500 people worldwide. Forward-looking
Information and the Private Litigation Reform Act of 1995 Certain
statements in this press release relating to the market acceptance
of our products, possible future sales relating to expected orders,
and our future financial position and operating results are
�forward-looking statements� for the purposes of the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements are based on the opinions and
estimates of our management at the time the statements are made and
are subject to risks and uncertainties that could cause actual
results to differ materially from those expected or implied by the
forward-looking statements. These statements are not guaranties of
future performance and are subject to known and unknown risks and
uncertainties and are based on potentially inaccurate assumptions.
Factors that could affect the rate and extent of market acceptance
of our products, the receipt of expected orders, and our financial
performance include our ability to successfully manufacture, market
and sell our ultrasound systems, our ability to accurately forecast
customer demand for our products, our ability to manufacture and
ship our systems in a timely manner to meet customer demand,
variability in quarterly results caused by the timing of large
project orders from governmental or international entities and the
seasonality of hospital purchasing patterns, timely receipts of
regulatory approvals to market and sell our products, the outcome
of the federal appeal of a patent ruling in our favor in a patent
infringement case and expenses associated with such appeal,
regulatory and reimbursement changes in various national health
care markets, constraints in government and public health spending,
the ability of our distribution partners and other sales channels
such as the physician office sales force to market and sell our
products, as well as other factors described under the heading,
�Important Factors that May Affect Our Business, Our Results of
Operations and Our Stock Price,� included in our latest periodic
report filed with the Securities and Exchange Commission. We
caution readers not to place undue reliance upon these
forward-looking statements that speak only as to the date of this
release. We undertake no obligation to publicly revise any
forward-looking statements to reflect new information, events or
circumstances after the date of this release or to reflect the
occurrence of unanticipated events. In addition, we expressly
disclaim any obligation to issue future preannouncements.
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