SonoSite achieves full-year profitability

Feb 15, 2005

Compact-ultrasound developer SonoSite achieved its first full year of profitable financial results in 2004, the Bothell, WA, company reported this week.

For the year (end-December 31), SonoSite reported revenues of $115.8 million, up 37% compared with $84.8 million in 2003. The company posted pre-tax net income of $3.7 million, and net income of $23 million when the impact of a $19.3 million non-cash tax benefit is included. SonoSite posted a net loss of $1.8 million in 2003.

For the fourth quarter, SonoSite saw revenues grow 36% to $37.1 million, compared with $27.3 million in the same period of 2003. The company's pre-tax income was $3.5 million, while net income was $23 million when the impact of a $19.5 million non-cash tax benefit is included. SonoSite had net income of $2.2 million in the fourth quarter of 2003.

In other SonoSite news, the company announced two executive appointments this week. Anne Bugge was named vice president of corporate affairs, with responsibility for developing and managing SonoSite's investor and corporate communications worldwide. John Lowell was appointed vice president of operations, with responsibility for directing manufacturing operations, supplier management, and information technology functions.

By AuntMinnie.com staff writers

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