SonoSite Reports Management Change
16 October 2008 - 7:15AM
Business Wire
SonoSite, Inc. (Nasdaq:SONO), the world leader and specialist in
hand-carried ultrasound for the point-of-care, today reported that
Bernard J. Pitz, Senior Vice President and Chief Financial Officer
has departed SonoSite at the request of the company. Michael J.
Schuh, currently Vice President, Finance and Business Process, is
returning as CFO. Mr. Schuh served as SonoSite�s CFO from July 2000
until May 2008. Separately, SonoSite also reported that revenue
grew approximately 23% to over $61 million in the third quarter,
ended September 30, 2008, as compared to the same quarter in 2007,
and that the company expects to exceed consensus earnings estimates
with strong cash flow. Third quarter financial results are
preliminary. The company will report third quarter and nine months
financial results on Thursday, October 30, 2008 at the close of
market. 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. 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 to market and
sell our products and any changes to such channels, 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 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