Ultrasound and miniPACS vendor Acuson reported record quarterly revenues of $135 million in its fourth quarter (end-December 31), an increase of 10% over the $123.1 million recorded in 1998. The revenue increase wasn't enough, however, to result in net income growth. Excluding after-tax write-offs associated with the company's acquisition of echocardiography equipment firm Ecton, the Mountain View, CA-based Acuson had a net profit of $6.8 million, compared with $6.8 million in 1998.
For the year, Acuson booked revenue of $475.9 million, up 4.6% over the $455.1 million earned in 1998. Net income was $20.6 million, excluding the acquisition write-off, compared with net income of $20.8 million last year.
Looking ahead, Acuson CEO and chairman Samuel Maslak said he expects the Ecton acquisition to add to the company's earnings in the second half of the year. The company expects to begin shipments of Cypress, a low- and mid-range echocardiography scanner, this summer.
In other cardiac developments, Acuson will begin shipping its AcuNav intracardiac ultrasound catheters in the first quarter of 2000. The company will also ship its first KinetDx miniPACS to cardiology customers this quarter. Acuson began installing the networks at radiology sites in late 1999.
By AuntMinnie.com staff writersFebruary 3, 2000
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