SonoSite Inc. (NSDQ:SONO) bounced to a 341 percent profit increase for the second quarter.
The Bothell, Wash.-based portable ultrasound maker reported net earnings of $1.9 million, or 12 cents per diluted share, on sales of $61.5 million during the three months ended June 30. That compares with net earnings of $425,000, or 2 cents per diluted share, on revenue of $52 million during the same period last year.
Excluding charges of $2.5 million from the acquisition of Toronto, Ont.-based VisualSonics, which closed June 30, EPS was $0.29 for the quarter, SonoSite said.
The company’s 72 percent gross margins, which rose 1.4 percent year-over-year, in addition to new returns from its Q3 2009 acquisition of CardioDynamics, contributed to the growth.
With the acquisition of VisualSonics during the second quarter this year, SonoSite expects revenue growth of 18 percent to 19 percent for 2010.