Compact-ultrasound developer SonoSite credited strong market demand for growth in revenue and profit in 2006.
The Bothell, WA-based company achieved revenue of $171.1 million in 2006, a 16% gain over revenue of $147.5 million in 2005. Net income advanced to $7.2 million, compared with $5.4 million in 2005.
Revenue in the fourth quarter (end-December 31) grew 20% to $54.4 million, compared with $45.2 million in the fourth quarter of 2005. Net income totaled $5.8 million, compared with $5.3 million in the same quarter a year ago.
Despite the growth, SonoSite said that the company did not meet its full-year financial objectives and is taking steps to improve its performance in 2007. The actions include increasing investment in product development, streamlining its administrative cost structure, and expanding its sales force.
By AuntMinnie.com staff writers
February 16, 2007
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