Acuson breaks $100 million barrier
Acuson is realizing the benefits from its release last year of the Aspen and Sequoia ultrasound scanners. The Mountain View, CA-based vendor reported record revenues for the first quarter of 1997 (end-March) of $107.6 million, a 27% jump over the $84.8
Acuson is realizing the benefits from its release last year of the Aspen and Sequoia ultrasound scanners. The Mountain View, CA-based vendor reported record revenues for the first quarter of 1997 (end-March) of $107.6 million, a 27% jump over the $84.8 million reported in first quarter 1996. Net income totaled $5.8 million, compared with $1.3 million for the same period in 1996. Earnings per share were above analysts' expectations for the quarter.
It was the first quarter for Acuson that exceeded $100 million in revenues and represented the third straight record quarter for sales. Acuson executives credited the success of the Sequoia and Aspen platforms and a strong worldwide ultrasound market as key factors behind the prosperous financial results.
Acuson's revenues surpassed those of arch rival ATL, which reported first-quarter sales of $100.1 million. ATL has usually reported higher revenues than Acuson since the Bothell, WA, company's acquisition of Interspec in 1994.
Acuson also benefited from two large orders in the first quarter. Diagnostic Health Services purchased 22 scanners, primarily Aspen systems, and Henry Ford Hospital in Detroit acquired nine Sequoia C256 echocardiography units (SCAN 4/30/97). Some revenue from those sales will also be realized in the second quarter, according to Stephen Johnson, CFO.