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Somanetics Reports Financial Results for the Third Quarter of Fiscal 2009
Date:9/17/2009

TROY, Mich., Sept. 17 /PRNewswire-FirstCall/ -- Somanetics Corporation (Nasdaq: SMTS) today reported net revenues of $12.5 million for the third quarter ended August 31, 2009, a one percent increase from $12.4 million in the same period of 2008. For the nine months ended August 31, 2009, net revenues increased five percent to $35.5 million from $33.8 million.

U.S. net revenues increased 10 percent to $10.4 million from $9.4 million in the third quarter of fiscal 2008. International net revenues were $2.1 million compared to $3.0 million. For the nine-month period, U.S. net revenues increased five percent to $28.4 million and international revenues increased five percent to $7.1 million.

Third quarter income before income taxes was $3.5 million compared to $4.7 million in the third quarter of 2008. Net income was $2.2 million, or $0.17 per diluted share, compared with $3.0 million, or $0.23 per diluted share.

For the nine months ended August 31, 2009, income before income taxes was $8.5 million, compared to $11.3 million a year ago. Net income was $5.3 million for the nine-month period, or $0.41 per diluted share, compared with $7.1 million, or $0.51 per diluted share in the same period of 2008.

Gross margin was 88 percent in the third quarter of fiscal 2009, compared to 86 percent in the fiscal 2008 third quarter, and was 87 percent for the nine-month period of 2009, the same as a year ago. Cash, marketable securities and long-term investments at August 31, 2009 totaled $77.7 million, with no borrowings.

"The global economic crisis continued to impact our business in the quarter with hospitals limiting capital spending and slowing adoption of new technology," said Bruc
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SOURCE Somanetics Corporation
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