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SonoSite Inc. Q2 2010 Earnings Call Transcript

SonoSite Inc. (SONO)

Q2 2010 Earnings Call Transcript

July 26, 2010 4:30 pm ET

Executives

Kevin Goodwin – President and CEO

Mike Schuh – VP and CFO

Analysts

Tycho Peterson – JPMorgan

Charley Jones – Barrington Research

Alan Robinson – Royal Bank of Canada

Presentation

Operator

Good day everyone and welcome to the SonoSite second quarter results conference call. Please note today’s call is being recorded.

At this time, for opening remarks and introductions, I will now turn the conference over to Mr. Kevin Goodwin. Please go ahead, sir.

Kevin Goodwin

Thank you, operator, and good afternoon everyone on the call. This is Kevin Goodwin, CEO of SonoSite; along with me today is Mike Schuh, our CFO.

This conference call contains certain projections and forward-looking statements regarding future events or future financial performance of the company. And except for the historical information discussed during the conference call, the statements made today contain forward-looking statements that involve substantial risks and uncertainties.

Actual results could differ materially because of factors listed in the management discussion and analysis section of the company’s 2009 Form 10-K, and in other filings and reports with the SEC. We do not undertake any duty to publicly update any forward-looking statements.

So with this mind, I’m going to cover today the second quarter 2010 and then our first half of 2010 financial results. I’ll then move on to talk a little bit more about the reminder of 2010 and on to 2011 just a little bit.

I’ll start off with revenue for the second quarter; revenue came in at $61.5 million up a solid 18% versus 2009. Our primary care channel which was acquired last year in Q3, recoded $3.8 million of that revenue. Our core business revenue was up 10% representing our best core growth rate in six quarters. Changes in currency had no impact on Q2.

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