Compact-ultrasound developer SonoSite reported double-digit gains in revenue for both the fourth quarter and full fiscal 2007 (end-December 31), but the company's profit slipped slightly for both periods.
For the fourth quarter, the Bothell, WA-based company posted revenues of $64.8 million, up 19% compared with $54.4 million in the same period of the previous year. Net income for the quarter was $4.3 million, compared with net profit of $5.8 million in the fourth quarter of 2006.
For the full year, SonoSite had sales of $205.1 million, up 20% compared with sales of $171.1 million in the same period of 2006. The company's net income for the year was $6.9 million, compared with net income of $7.2 million in 2006.
SonoSite said the company benefited from steadily improving execution and the introduction of new products, such as its M-Turbo and S-Series products. The firm's profit was impacted by higher patent litigation expenses and increased R&D investment.
Related Reading
SonoSite expects higher Q4 sales, January 7, 2008
SonoSite begins shipping S Series, December 17, 2007
SonoSite debuts S-Cath, October 30, 2007
SonoSite debuts S-ICU, October 22, 2007
SonoSite debuts S-Nerve, October 15, 2007
Copyright © 2008 AuntMinnie.com
