SonoSite Fourth Quarter and 2007 Revenue Both Rise 20%
07 January 2008 - 9:30PM
Business Wire
SonoSite, Inc. (Nasdaq:SONO), the world leader in point-of-care,
hand-carried ultrasound, today provided preliminary revenue results
for the fourth quarter ended December 31, 2007. The company said
that fourth quarter revenue grew approximately 20% to $65 million
compared to the prior year�s fourth quarter. For the year,
worldwide revenue is estimated to have increased by 20% to over
$205 million. SonoSite President and CEO Kevin M. Goodwin said that
the new M-Turbo� and S Series� products, which the company began
shipping in December, accounted for over 30% of the quarter�s
revenue. �Market response and uptake worldwide was stronger than we
expected in the first quarter of our product launch,� Mr. Goodwin
said. �This is a particularly encouraging given that we essentially
had only 40 selling days with our new products in the field in the
fourth quarter.� The company unleashed its largest ever roll-out of
five new products at major medical meetings during the fourth
quarter of 2007. As previously announced, Mr. Goodwin will be
presenting at the Annual JPMorgan Healthcare Conference on January
7, 2008, at 9:00 am Pacific Time in San Francisco. An audio replay
of Mr. Goodwin�s conference presentation can be accessed via the
Investors Section of SonoSite�s website at www.sonosite.com and
will be available for 30 days. Fourth quarter 2007 revenue
estimates are preliminary. SonoSite plans to report complete fourth
quarter and 2007 financial results on February 14, 2008, after the
close of the financial markets at 1:00 pm Pacific Time. Conference
Call Information SonoSite will hold a conference call on February
14th at 1:30 pm PT/4:30 pm ET. 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 14, 2008, at 4:30 pm (PT) until�March
14, 2008, at 10:00 pm (PT) by dialing (719) 457-0820 or toll-free
(888) 203-1112. The confirmation code 9103418 is required to access
the replay. 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 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 over 600 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, 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, the
impact of patent litigation, our ability to execute our acquisition
strategy, the effect of transactions and activities associated with
our issuance of senior convertible debt in July 2007 on the market
price of our common stock, and as well as other factors contained
in the Item 1A. �Risk Factors� section of our most recent Annual
Report on Form 10-K, as updated by our most recent quarterly
reports filed on Form 10-Q 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.
Sonos (NASDAQ:SONO)
Historical Stock Chart
From Jun 2024 to Jul 2024
Sonos (NASDAQ:SONO)
Historical Stock Chart
From Jul 2023 to Jul 2024