27% REVENUE GROWTH TO $71.1 Million 51% EBIT GROWTH TO $4.0 Million 52% EBITDA GROWTH TO $6.6 Million 62% EBITDAS GROWTH TO $8.7 Million
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BOTHELL, WA - April 25, 2011 - SonoSite, Inc. (Nasdaq:SONO), the world leader and specialist in bedside and point-of-care ultrasound, today reported financial results for the first quarter ended March 31, 2011.
REVENUE Revenue for the first quarter of 2011 was $71.1 million, an increase of 27% compared to $56.0 million in the first quarter of 2010. Revenue from VisualSonics, Inc., acquired in June 2010, was $8.2 million for the quarter.
Foreign currency rates had a 2% favorable impact on first quarter revenue results.
FIRST QUARTER HIGHLIGHTS
The US Sector delivered another quarter of double-digit revenue growth, up $4.5 million or 21%; Strong performance by the US Enterprise channel, which grew 71% compared to the prior year; VisualSonics successfully launched the Vevo® LAZR Photoacoustics Imaging system at the American Association of Cancer Research, receiving positive feedback and interest among scientific researchers.
EBITDAS, EBITDA and Operating Income (EBIT) First Quarter Results First quarter EBITDAS was $8.7 million or 12% of revenue, an increase of 62% over the prior year.