Strong sales from new products helped propel compact-ultrasound vendor SonoSite to a 25% increase in revenue in its second quarter.
For the period (end-June 30), the Bothell, WA-based firm had revenue of $59.2 million, up from $47.4 million a year ago. The company had a net income of $2.5 million, compared with $1.7 million in the second quarter of 2007.
In quarterly highlights, SonoSite said that its new M-Turbo and S Series systems accounted for over half of its second-quarter sales. The company also reached $1 billion in cumulative sales since it first entered the handheld ultrasound market 10 years ago.
In other SonoSite news, the company said that it has received favorable rulings in its patent litigation with GE Healthcare of Chalfont St. Giles, U.K. A trial judge in a U.S. federal court has granted summary judgment motions in SonoSite's favor on five of six patents that GE has asserted against SonoSite.
The court ruled that one of the GE patents is invalid and that SonoSite products do not infringe upon the other four GE patents, according to SonoSite. The trial judge has not yet ruled on two remaining SonoSite patents and one remaining GE patent, SonoSite said.
Related Reading
SonoSite adds new transducers to M-Turbo, June 12, 2008
RCT licenses THI patents to SonoSite, June 9, 2008
GE hits SonoSite with second lawsuit, May 27, 2008
SonoSite names new CFO, May 12, 2008
SonoSite posts record Q1, April 29, 2008
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