SonoSite posts $10 million in sales for 1999
Portable ultrasound vendor SonoSite topped the $10 million mark in revenues in its first year since being spun off by ATL. Not surprisingly, the bulk of those revenues came in the fourth quarter (end-December), following launch of the Bothell, WA-based
Portable ultrasound vendor SonoSite topped the $10 million mark in revenues in its first year since being spun off by ATL. Not surprisingly, the bulk of those revenues came in the fourth quarter (end-December), following launch of the Bothell, WA-based companys first two commercial product platforms, the SonoSite 180 hand-held ultrasound system and the SonoHeart hand-held echocardiography system (SCAN 9/29/99 and 1/12/00). SonoSite began shipping SonoHeart this month.
Despite revenues of $9.4 million for the fourth quarter and $10.1 million for the year, SonoSite still reported hefty losses at years end: Losses for the year were $21.6 million, compared to $13 million for 1998. This was due in part to increases in operating expenses related to product and personnel ramp-up in support of the companys new product lines. Fourth-quarter losses reflect the companys new revenue streams, however; losses for the quarter were $3.2 million, compared to losses of $4.7 million for the fourth quarter of 1998.