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Somanetics Corp. (SMTS) Reports Second Quarter Earnings

Somanetics Corp. released results for its third fiscal quarter of 2009, ending August 31, 2009. The company reported net income of $2.2 million, or $0.17 per share. This was down from the $3.0 million, or $0.23 per share, earned in the second quarter of 2008. Revenues came in at $12.5 million, about flat on a year over year basis.

Somanetics Corporation reiterated its guidance for the full fiscal 2009 year as follows:

Revenues – range of $50 to $52 million
Gross margin – 86%
Operating margin – 20%
Pretax income – range of $11.2 to $11.6 million

Somanetics Corporation ended the quarter with $50 million in cash and marketable securities, holding no debt.

Somanetics Corporation is a leader in oximetry. The company’s main product, the INVOS System, is used to monitor changes in the blood oxygen levels of both the brain and body of patients who have restricted blood flow. The INVOS system is noninvasive and backed by much of the medical community. The company has 11 U.S. patents and three foreign patents to protect its intellectual property.

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