Compact-ultrasound developer SonoSite of Bothell, WA, posted solid revenue increases for its third quarter (end-September 30).
The company's worldwide revenue grew 23%, from $50 million in the third quarter of 2007 to $61.6 million for the third quarter of this year. For the nine months ending September 30, SonoSite's revenues grew 24%, from $140.2 million in 2007 to $173.4 million. The company attributed the boost in revenue to demand for its M-Turbo and S Series, which accounted for 60% of the quarter's growth.
For the third quarter of 2008, net income grew to $4.7 million, a 68% increase compared to net income of $1.5 million in the third quarter of 2007. For the nine months of 2008, net income grew to $8.5 million, a 69% increase compared to net income of $2.6 million for the same nine months of 2007. Net income in both the third quarter and nine-month periods of 2008 included a $1.5 million after-tax benefit for the settlement of the Zonare patent lawsuit.
Related Reading
SonoSite projects Q3 growth, replaces CFO, October 16, 2008
SonoSite's Dugan takes new position, August 29, 2008
SonoSite upgrades S Series scanners, August 22, 2008
SonoSite taps new VP of U.S. sales, August 12, 2008
SonoSite, GE resolve patent lawsuit, August 1, 2008
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