SonoSite Previews Preliminary First Quarter Revenue Results
06 April 2009 - 9:00PM
Business Wire
SonoSite, Inc. (Nasdaq:SONO), the world leader and
specialist in hand-carried and point-of-care ultrasound, today
provided preliminary revenue results for the first quarter ended
March 31, 2009.
The company said worldwide revenue decreased by 1% - 2% in Q1
2009 compared to Q1 2008. On a constant currency basis, worldwide
revenues grew 6% - 7% in the quarter, indicating a currency
headwind of approximately 8%.
US revenues grew approximately 4% year over year. Continued
slowing of US hospital capital spending drove a mid-teen percentage
decline in SonoSite�s US hospital revenues. This was offset by
excellent growth in the company�s US enterprise channel.
International revenues decreased approximately 6% in the quarter,
driven by the impact of a weaker dollar. On a constant currency
basis the International sector was up approximately 8% in Q1 2009
on a year over year basis.
These revenue estimates are preliminary. The company will report
full financial results for the first quarter on April 27, 2009
after 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
approximately 650 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 customers� ability to finance the purchase of our
systems, including the effect of reduced spending by hospitals, 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, including a repurchase of a portion of the debt, 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.
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