SonoSite posts double-digit revenue growth in 1Q

Twitter icon
Facebook icon
LinkedIn icon
e-mail icon
Google icon

SonoSite Inc. says an "exceptionally strong performance" in Europe and "excellent growth" in the United States powered the hand-held ultrasound device maker to greater revenues in the first quarter.

Revenue climbed 37 percent to $23.5 million, compared with $17.2 million in the first quarter of 2003. The company also reported a net loss of $1.4 million, compared with a net loss of $2.6 million in the year-ago quarter.

SonoSite President and CEO Kevin M. Goodwin said the company also is "beginning to regain momentum in the Japanese market," as installations of SonoSite systems increased to more than 15,000 worldwide.

The company anticipates a revenue growth rate for 2004 of approximately 30 percent and that it expects its financial results to "approach breakeven in the second quarter."