ZONARE Medical Systems, Inc. Reports Fourth Quarter and 2011 Results
Published: Mar 05, 2012
MOUNTAIN VIEW, Calif., March 2, 2012 /PRNewswire/ -- ZONARE Medical Systems, Inc., a leading developer of innovative high-end ultrasound solutions, today announced financial results for the fourth quarter and fiscal year ended December 31, 2011.
Sales for 2011 approached $70 million, resulting in 20% year-over-year sales growth. Sales for the fourth quarter exceeded $18 million and the company reported an operating profit for the quarter. More than 50% of the sales in 2011 were generated by the company's international operations. Both the full year and fourth quarter sales were records for ZONARE.
"Our strong financial results for 2011 validate the strength and market acceptance of the z.one Ultrasound Platform," said Timothy A. Marcotte, President and Chief Executive Officer. "With more than 6,000 z.one ultrasound units installed, our customer base is providing the foundation that has propelled us to profitability and will fuel future growth. The performance of our international distribution channels is starting to show the potential we had anticipated. With representation in over ninety countries, the groundbreaking ZONE Sonography Technology is rapidly become the system of choice among our customers."
For 2012, the company anticipates revenue growth of 15% to 20%, and to achieve an operating profit for the year.
The company had other significant accomplishments in 2011:
- Frost & Sullivan 2011 North American Technology Innovation Award in Diagnostic Ultrasound Imaging Technology. Recognizing excellence in the development of Zone Sonography Technology (ZST), the Frost & Sullivan Award highlighted ZONARE's technology as one of the industry's most significant ultrasound breakthroughs.
- Zonare ranked highest in performance across a number of clinical applications and ranked first or second in several customer support and service categories in the KLAS "Ultrasound 2011: Innovation on the Move" report.
- Initiated shipments of its new advanced software applications optimized for vascular imaging. Featuring B-steer enhancements of linear array transducers and new venous calculations, the new applications expand the clinical utility of the z.one system and offers improved vascular imaging performance and workflow.
About the z.one Ultrasound Platform
ZONARE's z.one ultrasound platform delivers high-end image quality powered by its proprietary ZONE Sonography Technology (ZST). The system's innovative, software-based design and architecture allows continuous performance enhancements and upgrades via software and delivers the highest level of system uptime and customer productivity. The z.one Ultrasound platform delivers premium performance and provides mobility and workflow advantages across a wide range of clinical settings.
About ZONARE Medical Systems, Inc.
ZONARE Medical Systems, Inc., based in Mountain View, Calif, is solely dedicated to ultrasound excellence through its innovative, software-based, next generation technology, and putting customers and employees first. The patented design and architecture of the z.one Ultrasound platform deliver high-end image quality and clinical versatility at unparalleled value. For more information, visit: www.zonare.com.
ZONARE, z.one, and Zone Sonography is a trademark of ZONARE Medical Systems, Inc.
SOURCE ZONARE Medical Systems, Inc.