SonoSite Announces Preliminary 2009 Revenue
06 January 2010 - 8:30AM
Business Wire
SonoSite, Inc. (Nasdaq:SONO), the world leader and
specialist in hand-carried ultrasound for the point-of-care, today
provided preliminary revenue results for the fourth quarter and
year ended December 31, 2009.
Overall 2009 revenue was approximately $69 million in the fourth
quarter and $227 million for the year. Overall revenue included $4
million for the fourth quarter and $7 million for the year from the
recently acquired CardioDynamics International Corporation
(CDIC).
Excluding CDIC, revenue was down 7% in the fourth quarter and
down 10% for the year compared to the prior year. For the quarter,
a decrease in military orders caused a 6% revenue decline. Changes
in foreign currency rates increased revenue in the fourth quarter
by 4% but decreased revenue by 2% for the year.
“Exiting 2009, we were encouraged by an uptick in momentum
during the fourth quarter,” said Kevin Goodwin, SonoSite President
and CEO. “On a constant currency basis, international revenue was
level in the fourth quarter and grew 1% for the year. Our US Direct
business was down compared to the prior year but continued to grow
sequentially. Strong US bookings at the year end and a positive
outlook by our sales force have provided some renewed optimism
heading into 2010.”
The revenue estimates are preliminary. SonoSite plans to report
complete fourth quarter and 2009 financial results on February 11,
2010 after the close of the financial markets.
Conference Call Information
SonoSite will hold a conference call on February 11 at 1:30 pm
PT/4:30 pm ET. The call will be broadcast live and can be accessed
via http://www.sonosite.com/company/investors. A replay of the
audio webcast will be available beginning February 11, 2010, 5:30
pm PT and will be available until February 25, 2010, 9:59 pm PT by
dialing (719) 457-0820 or toll-free (888) 203-1112. The
confirmation code 7406921 is required to access the replay. The
call will also be archived on SonoSite’s website.
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.
Forward-looking Information
and the Private Litigation Reform Act of 1995
Certain statements in this press release relating to 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, are based on potentially inaccurate assumptions
and are subject to known and unknown risks and uncertainties,
including, without limitation, the risk that the acquisition of
CardioDynamics will not yield the expected potential benefits, our
ability to manufacture, market and sell our newest products,
spending patterns in the hospital market, healthcare reform,
fluctuations in foreign currency exchange rates, and the other
factors contained in 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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