SonoSite hits profitability in 2Q
As sales of SonoSite's flagship compact ultrasound system exceeded 60 percent of worldwide revenue, the company reported "significantly improved results" in the second quarter of 2004 compared with the second quarter of 2003.
Worldwide revenue in the second quarter grew 30 percent to $26.1 million, compared with 20.1 million in the year-ago quarter. For the fist half of 2004, the company's total revenue grew 33 percent to $49.6 million, compared with $37.3 million in the year-ago period.
SonoSite also reported a net loss of $64,000, compared with a net loss of $1.3 million in the second quarter of 2003.
"Our European sales are benefiting from the recent launch of the 2.2 Titan upgrade with its shared service capabilities for both cardiology and radiology imaging," said Kevin Goodwin, president and CEO. "Worldwide sales of our Titan high performance systems continue to strengthen and now account for over 60 percent of worldwide revenue. We are focused in accelerating U.S. sales growth and have taken several steps to establish the foundation for improved long-term growth. Development of our third-generation digital architecture, Gen III, continues on schedule."
Worldwide revenue in the second quarter grew 30 percent to $26.1 million, compared with 20.1 million in the year-ago quarter. For the fist half of 2004, the company's total revenue grew 33 percent to $49.6 million, compared with $37.3 million in the year-ago period.
SonoSite also reported a net loss of $64,000, compared with a net loss of $1.3 million in the second quarter of 2003.
"Our European sales are benefiting from the recent launch of the 2.2 Titan upgrade with its shared service capabilities for both cardiology and radiology imaging," said Kevin Goodwin, president and CEO. "Worldwide sales of our Titan high performance systems continue to strengthen and now account for over 60 percent of worldwide revenue. We are focused in accelerating U.S. sales growth and have taken several steps to establish the foundation for improved long-term growth. Development of our third-generation digital architecture, Gen III, continues on schedule."