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Acuson turns in strong financials
Ultrasound vendor Acuson of Mountain View, CA, released year-end financial results this month that showed double-digit growth in revenues and net income. The company credited the performance to momentum generated by its Sequoia and Aspen products, as
Ultrasound vendor Acuson of Mountain View, CA, released year-end financial results this month that showed double-digit growth in revenues and net income. The company credited the performance to momentum generated by its Sequoia and Aspen products, as well as a robust U.S. market.
For the year (end-December), Acuson had revenues of $437.8 million, up 26% compared with $346.2 million in 1996. The vendor's net income for the year was $22.4 million, compared with a net loss of $10.6 million in 1996, when costs associated with the Sequoia and Aspen launches sent the company into the red.
For the fourth quarter, Acuson's sales were $117.4 million, up 25% over the same period the year before, when the company recorded $93.7 million in revenues. Net income for the most recent period was $6.3 million, compared with a net loss of $2.9 million in the fourth quarter of 1996.
Acuson achieved the revenue growth despite weakness in the Asian and European markets, according to chairman and CEO Samuel Maslak. Market conditions remain positive in 1998, with the U.S. market showing continued strength and the European market stabilizing. Asia will continue to experience difficulties in 1998, but the company remains committed to expansion in the region, Maslak said.
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