SonoSite Profits Improve

SonoSite(SONO Quote) reported a 32% increase in net income when it posted its complete second-quarter earnings after Monday's market close.

The maker of portable ultrasound systems said net income was $1.7 million, or 10 cents a share, up from $1.3 million, or 8 cents a share, in the year-ago quarter. Analysts surveyed by Thomson Financial had expected 4 cents a share for the quarter.

The company previously reported that revenue grew 20% to $47.4 million compared with $39.5 million in the comparable 2006 quarter.

Aside from earnings, SonoSite said it acquired LumerVu, a company that develops technology to improve catheter placement. The company said it expects to introduce products based on LumerVu's technology in the second half of 2008.

SonoSite didn't disclose terms of the agreement, but it expects the transaction won't have a material effect on its 2007 financial results.

"The combination of SonoSite's hand-carried ultrasound technology with LumenVu's innovative catheter tracking technology will offer clinicians a major benefit in accurately and cost-effectively placing catheters at the bedside," said Thomas Dugan, SonoSite's senior vice president.

Looking ahead, the company expects revenue to grow by 15% to 18% for the year.

SonoSite gained 31 cents, or 1.1%, to close the regular session at $28.81 but then fell back 31 cents, or 1.1%, to $28.50 in after-hours trading.