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Somanetics Reports Second Quarter Results and Extension of Exclusive Distribution Agreement With Covidien
Date:6/17/2009

- Somanetics has signed a three-year extension of its exclusive distribution agreement with Covidien for Europe, the Middle East and Africa.

- Somanetics received 510(k) clearance from the U.S. Food and Drug Administration to expand the labeling for its INVOS(R) Cerebral/Somatic Oximeter. The new labeling includes three new marketing claims, including a claim of improved outcomes after cardiac or major general surgery when the INVOS System is used to manage therapies in patients weighing more than 2.5 kilograms.

- Somanetics' INVOS System was featured in 25 abstracts that focused on applications of the technology in the neonatal intensive care unit at the Pediatric Academic Societies' annual conference held in May.

- Net revenues for the second quarter were $11.8 million, primarily due to lower than expected hospital capital equipment spending on INVOS System hardware in the U.S. market.

- Net income for the second quarter was $1.8 million, or $0.14 per diluted share.

TROY, Mich., June 17 /PRNewswire-FirstCall/ -- Somanetics Corporation (Nasdaq: SMTS) today reported net revenues of $11.8 million for the second quarter ended May 31, 2009, compared with revenues of $12.7 million in the same period of 2008. For the six months ended May 31, 2009, net revenues increased seven percent to $23.0 million from $21.4 million in the same period last year.

U.S. net revenues were $9.3 million, compared with $10.2 million in the second quarter of fiscal 2008. International net revenues were $2.5 million, flat with the same period in 2008. For the six-month period, U.S. net revenues increased two percent to $18.1 million from $17.7 million and international revenues increased 31 percent from $3.8 million to $4.9 million.

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SOURCE Somanetics Corporation
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