Despite market challenges in Europe and Australia, compact-ultrasound developer SonoSite produced double-digit revenue growth in the third quarter and for the nine-month period of 2011 (end-September 30), although the firm's net income slipped.
Revenues in the third quarter increased 10% to $75.7 million, compared with $68.5 million in the third quarter of 2010. Net income declined to $720,000, compared with net income of $942,000 in last year's third quarter. Third-quarter results were affected by nonrecurring severance charges of $1.3 million from a restructuring. In addition, overall order bookings increased 16% in the third quarter.
For the nine-month period, revenues advanced 18% to $219.5 million, compared with $186.1 million in the same period of 2010. Net income slipped to $635,000, compared with net income of $4.2 million in the nine-month period of 2010.
