Asian crisis hits Acuson revenues
The ongoing financial crisis in Asia and the strong U.S. dollar conspired to put the brakes on Acuson's second-quarter financial results. The Mountain View, CA, company last month reported slightly higher revenues for the period (end-July), while net
The ongoing financial crisis in Asia and the strong U.S. dollar conspired to put the brakes on Acuson's second-quarter financial results. The Mountain View, CA, company last month reported slightly higher revenues for the period (end-July), while net income declined.
For the quarter, Acuson turned in revenues of $113.3 million, up only marginally compared with sales of $112.7 million in the second quarter of 1997. The company's net income fell to $4.1 million, compared with a profit of $5.7 million in the same period last year.
Acuson's international revenues fell 16% during the period, due to the Asian crisis and the strong dollar, according to chairman and CEO Samuel Maslak. The company's outlook for the rest of the year is positive, however. The U.S. ultrasound market continues to show strength, and Europe is recovering, Maslak said.