Sonos (NASDAQ:SONO)
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Company begins on schedule delivery of third
generation product to hospitals and physicians worldwide following
successful second quarter launch
SonoSite, Inc. (Nasdaq:SONO), the world leader in hand-carried
ultrasound, today announced it has begun worldwide shipments of its
MicroMaxx(TM) ultrasound system, the company's third generation
hand-carried product. The MicroMaxx system, at less than eight pounds
and the size of a laptop computer, delivers image resolution and
performance comparable to costly, conventional cart-based ultrasound
systems weighing over 200 pounds. This unprecedented power in a
hand-carried configuration provides medical professionals with
unmatched flexibility and efficiency in utilizing ultrasound in both
hospital and office-based settings.
"Over the last several weeks we have introduced the MicroMaxx
system to physicians, sonographers and hospital administrators across
the medical spectrum in the US and international markets," said Kevin
M. Goodwin, SonoSite President and CEO. "Although still in the early
stages, we have been pleased with the high degree of enthusiasm
expressed for the product. Once again the SonoSite team has executed
an on-time launch and on-time delivery of a new product platform."
As the worldwide market leader in hand-carried ultrasound,
SonoSite is advancing the field of ultrasound by integrating its Chip
Fusion(TM) technology into a product with a user-friendly design that
can be battery operated and deployed in seconds wherever needed.
SonoSite's proprietary Chip Fusion technology integrates digital
signal processing and multiple ultrasound functions into a custom ASIC
(Application Specific Integrated Circuit) microchip, resulting in high
performance in a less costly, powerful hand-carried unit.
The MicroMaxx system and its transducers are designed to withstand
the rigors of highly mobile use, including being dropped onto a hard
surface and continuing to function. SonoSite's proven history of
durability and reliability, and the high level of integration of its
third generation ASICs has resulted in another industry first -- the
MicroMaxx system comes with a standard five-year warranty,
significantly reducing the cost of owning advanced imaging equipment
in any user setting.
In addition to traditional market segments for ultrasound such as
radiology, cardiology and vascular imaging, high performance
hand-carried products like MicroMaxx and SonoSite's earlier generation
products are expanding the use of ultrasound in newer applications,
including emergency medicine, anesthesiology and general and
specialized surgery.
Leadership in Hand-Carried Ultrasound
SonoSite began as a division of ATL Ultrasound and was spun off as
a public company in 1998 to create hand-carried ultrasound devices.
Today the company is one of the fastest growing medical technology
companies in the United States with revenues growing 37% in 2004 to
approximately $116 million. SonoSite is the leader in hand-carried
ultrasound with an installed base of more than 20,000 units and a 60%
market share worldwide in the hand-carried ultrasound market. In a
recent independently conducted survey commissioned by SonoSite,
customers gave the company's products an overall satisfaction rating
of 97% based on image quality, ease of use, durability, reliability
and ergonomic transducer design. Since the first product shipment in
1999, SonoSite ultrasound devices are increasingly being used in and
for procedures where physicians need inexpensive, non-radiating
imaging for diverse applications such as real time assessment in
emergency situations, guiding biopsies and nerve blocks as well as for
full diagnostic examinations.
About SonoSite
SonoSite, Inc. (www.sonosite.com) is the innovator and world
leader in hand carried ultrasound, with an installed base of more than
20,000 systems. The Company, headquartered near Seattle, Washington is
represented by subsidiaries and a global distribution network in over
75 countries. Approximately half of its revenues are generated from
international markets. SonoSite's small, lightweight systems are
expanding the use of ultrasound across the clinical spectrum by
cost-effectively bringing high performance ultrasound to the point of
patient care. The Company employs approximately 450 people worldwide.
Forward-looking Information and the Private Litigation Reform Act
of 1995
Certain statements in this press release relating to the market
acceptance of our products, possible future sales relating to expected
orders, and our future financial position and operating results are
"forward-looking statements" for the purposes of the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements are based on the opinions and
estimates of our management at the time the statements are made and
are subject to risks and uncertainties that could cause actual results
to differ materially from those expected or implied by the
forward-looking statements. These statements are not guaranties of
future performance and are subject to known and unknown risks and
uncertainties and are based on potentially inaccurate assumptions.
Factors that could affect the rate and extent of market acceptance of
our products, the receipt of expected orders, and our financial
performance include our ability to successfully market and sell our
new MicroMaxx systems, our ability to accurately forecast customer
demand for our products, our ability to manufacture and ship our
systems in a timely manner to meet customer demand, timely receipts of
regulatory approvals to market and sell our products, the outcome of
pending litigation and expenses associated with such litigation, the
willingness of healthcare providers who do not currently use
ultrasound to use ultrasound, the extent to which healthcare insurers
reimburse providers for ultrasound procedures, regulatory changes in
various national health care markets, constraints in government and
public health spending, the ability of our distribution partners to
market and sell our products, as well as other factors described under
the heading, "Important Factors that May Affect Our Business, Our
Results of Operations and Our Stock Price," included in our latest
periodic report filed with the Securities and Exchange Commission. We
caution readers not to place undue reliance upon these forward-looking
statements that speak only as to the date of this release. We
undertake no obligation to publicly revise any forward-looking
statements to reflect new information, events or circumstances after
the date of this release or to reflect the occurrence of unanticipated
events.