Shares of medical appliance manufacturer Somanetics ( SMTS) plummeted nearly 15% Thursday after the company announced fourth-quarter revenue that fell short of expectations.

The stock lost $3.47 to $19.87.

The company earned $5.3 million, or 37 cents a share in the fourth quarter, including a $3.4 million tax benefit, down from 43 cents a share in the year-ago quarter.

While revenue was up 25% to $7.68 million in the quarter, analysts surveyed by Thomson First Call were expecting revenue of $8.94 million.

"In the fourth quarter, total revenues were not what we expected primarily because of the timing of international purchases by our distribution partners and lower than expected U.S. INVOS System monitor purchases, although we are pleased with the fundamental indicators of our business," said Bruce Barrett, Somanetics' president and CEO.

For its 2007 fiscal year ending November, the company expects to report revenue of $40 million. Analysts were expecting the company to report $44.2 million in revenue for the year.

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