Acuson posts robust 1998 revenues

February 17, 1999

Ultrasound developer Acuson of Mountain View, CA, this month reported healthy financial numbers for its fourth-quarter and year-end periods (end-December). The results bolstered Acuson's financial picture, but didn't do much to lift the vendor's stock

Ultrasound developer Acuson of Mountain View, CA, this month reported healthy financial numbers for its fourth-quarter and year-end periods (end-December). The results bolstered Acuson's financial picture, but didn't do much to lift the vendor's stock price, which continues to be mired in the $13.50 range.

Acuson's fourth-quarter revenues climbed to $123.2 million from 1997's $117.4 million, an increase of 5%. Its net income was $6.8 million, compared with $6.3 million the year before. Revenues for fiscal 1998 increased to $455.1 million, up 4% from $437.8 million in 1997. Acuson's net income for the year decreased slightly, however, at $20.8 million versus $22.4 million in 1997.

The company's growth was paced by an 11% increase in international revenues in the fourth quarter, at $40.5 million. U.S. fourth-quarter revenues were $82.7 million, up 2%. U.S. revenues could have been higher, but a large number of orders were placed late in the period, and the company was unable to ship products before the next quarter began.

In other Acuson news, the company named Takashi Hayashi president of its subsidiary Acuson Nippon. Hayashi will also serve as senior advisor for Acuson's international business operations. He joins the company after 35 years at Toshiba, where he was most recently president of Toshiba Battery Engineering. Hayashi also served as president of Toshiba America Medical Systems from 1988 to 1992 and was general manager of Toshiba's worldwide ultrasound business from 1984 to 1987.