Скачать презентацию Mike Schuh CFO and Anne Bugge VP Скачать презентацию Mike Schuh CFO and Anne Bugge VP

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Mike Schuh – CFO and Anne Bugge, VP – Corporate Affairs 2005 Pacific Growth Mike Schuh – CFO and Anne Bugge, VP – Corporate Affairs 2005 Pacific Growth Equities Life Sciences Growth Conference – San Francisco

Forward-Looking Information Except for historical information presented, the statements made today are forward-looking statements Forward-Looking Information Except for historical information presented, the statements made today are forward-looking statements that are based on the opinions and estimates of our management as of today. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those expected or implied. Factors that could affect our actual results include the performance and acceptance of our products, our ability to compete effectively and other risks described under the heading, “factors affecting our operating results, our business and our stock price, ” included in our latest periodic report filed with the SEC. We caution investors not to place undue reliance on these forwardlooking statements. We undertake no obligation to update publicly any forward-looking statements made today. 2

Profile World leader in hand-carried ultrasound Ø #1 Brand - 60% share est. Ø Profile World leader in hand-carried ultrasound Ø #1 Brand - 60% share est. Ø #1 Installed Base - 20, 000+ units Ø #1 Technology - ASICS, transducers 3

Benefits of Sono. Site HCU Ø Smaller Ø Lighter Ø High performance ultrasound wherever Benefits of Sono. Site HCU Ø Smaller Ø Lighter Ø High performance ultrasound wherever it’s needed … ER … ICU … OR … Imaging lab … Doctor’s office 4

Disruptive Technology = 8 lbs. 300+ lbs. 5 Disruptive Technology = 8 lbs. 300+ lbs. 5

Investment Thesis 1. Revenue growth – 63% 5 -yr. CAGR 2. Transitioning to profitability Investment Thesis 1. Revenue growth – 63% 5 -yr. CAGR 2. Transitioning to profitability 3. High and expanding gross margins 4. Revenue rising on new technology and expanded channels 5. Major new market opportunity – Cardio. Vascular Disease Management 6. Major new product cycle beginning 6

Global Diagnostic Imaging Market Mobilization Opportunity Ultrasound $3. 5 B X-Ray MRI CT PET Global Diagnostic Imaging Market Mobilization Opportunity Ultrasound $3. 5 B X-Ray MRI CT PET Nuclear Imaging $17 B 7

The Impact of HCU OB/Gyn 20% Radiology Other 10% Vasc 40% ular 5% Cardiology The Impact of HCU OB/Gyn 20% Radiology Other 10% Vasc 40% ular 5% Cardiology 25% t Poin are of C ion E ns xpa ery ER Surg Anesthesia Vascular Access Cardiovascular Mgmt. HCU w High unit growth w High $ growth w Broad market potential Cart-based w w Slow unit growth Slow $ growth Substitution risk Commoditization 8

Spawning A New Market Historical Price Segmentation Traditional Radiology Other 10% Vasc 40% ular Spawning A New Market Historical Price Segmentation Traditional Radiology Other 10% Vasc 40% ular 5% Cardiology 25% t Poin E ion ery Surg ER $100 K+ 53% Anesthesia Vascular Access Cardiovascular Mgmt. SONO OB/Gyn 20% are of C ns xpa $50 - 100 K 27% SONO Under $50 K 20% $3. 5 B 9

Hand-Carried Ultrasound Projected Growth Trajectory 2010 2004 30% 1999 20% Procedural Diagnostic $10 M Hand-Carried Ultrasound Projected Growth Trajectory 2010 2004 30% 1999 20% Procedural Diagnostic $10 M $195 M* Diagnostic Imaging Physical. TM $1 B * Klein Biomedical-2005 2010 Imaging Physical. TM – Company Estimates 10

Entering Cardiovascular Disease Mgmt Ø Cardiovascular disease affects more than 64 million Americans Ø Entering Cardiovascular Disease Mgmt Ø Cardiovascular disease affects more than 64 million Americans Ø 50% men/64% women who died of heart attacks had no previous symptoms Ø Analysis of carotid artery lining can be effective indicator of asymptomatic disease Ø Sono. Site with IMT software can bring technique to physician’s office 11

Cardiol uro log ists ogists The Impact of HCU on CVDM e Ne cin Cardiol uro log ists ogists The Impact of HCU on CVDM e Ne cin edi l. M a rn Inte 30% Procedural Imaging Physical Diagnostic Imaging Physical Fam ily P tice ol 0 og ts is Gyn in cr Ob/ do En rac 40, 000 0 , 0 85 0 7, 50 12

Sono. Site Technology Proposition ASIC Transducer Design Value 180 Plus. TM (1999) 5. 4 Sono. Site Technology Proposition ASIC Transducer Design Value 180 Plus. TM (1999) 5. 4 pounds 13

Sono. Site Technology Proposition ASIC Transducer Design Value i. Look® (2002) 3. 0 pounds Sono. Site Technology Proposition ASIC Transducer Design Value i. Look® (2002) 3. 0 pounds 14

Sono. Site Technology Proposition ASIC Transducer Design Value TITANTM (2003) 7. 8 pounds 15 Sono. Site Technology Proposition ASIC Transducer Design Value TITANTM (2003) 7. 8 pounds 15

Gen III – The Crossover Point Introducing– Micro. MAXX™ Ø High-end cart performance in Gen III – The Crossover Point Introducing– Micro. MAXX™ Ø High-end cart performance in 8 lb. device § Dramatic increase in raw system processing performance without increased size … 4 X Channels … 4 X improvement in dynamic range … 2 X bandwidth § Standard 5 -year warranty § Embedded IMT 16

Mobilizing High Performance Ultrasound PERFORMANCE The Next Generation - Scalable Gen II Traditional 10 Mobilizing High Performance Ultrasound PERFORMANCE The Next Generation - Scalable Gen II Traditional 10 BOPS Gen I 6 BOPS SIZE Gen III 17

Robust Intellectual Property Portfolio Ø 22 issued patents in US: § Digital ultrasound under Robust Intellectual Property Portfolio Ø 22 issued patents in US: § Digital ultrasound under 10 lbs § Transducer technology § ASIC technology § Device designs Ø 48 patents pending § 20 in US; 28 foreign Ø License to former parent’s HCU-related technology Result: Unmatchable performance, price and size 18

Driving Ultrasound Across the Clinical Spectrum Hospital Rad Vasc Card/ Shared E M E Driving Ultrasound Across the Clinical Spectrum Hospital Rad Vasc Card/ Shared E M E D S U R G E R Y OB/ Gyn Line Placement Biopsy Office Vasc A Vascular Access N E Catheter S Insertion T H Rad Direct Selling Card/ Shared Nerve Block Cardiology Acute Eurology Care Endocrinology Internal Medicine Early Diagnosis Family Practice & Management OB/GYN Screening Wellness Channels Direct/Partner Mix 19

Driving Ultrasound Across the Clinical Spectrum Hospital Rad Vasc Card/ Shared E M E Driving Ultrasound Across the Clinical Spectrum Hospital Rad Vasc Card/ Shared E M E D S U R G E R Y OB/ Gyn Line Placement Biopsy Office Vasc A Vascular Access N E Catheter S Insertion T H Rad Direct Selling Card/ Shared Nerve Block Cardiology Acute Eurology Care Endocrinology Internal Medicine Early Diagnosis Family Practice & Management OB/GYN Screening Wellness Channels Direct/Partner Mix 20

Driving Ultrasound Across the Clinical Spectrum Hospital Rad Vasc Card/ Shared E M E Driving Ultrasound Across the Clinical Spectrum Hospital Rad Vasc Card/ Shared E M E D S U R G E R Y OB/ Gyn Line Placement Biopsy Office Vasc A Vascular Access N E Catheter S Insertion T H Rad Direct Selling Card/ Shared Nerve Block Cardiology Acute Neurology Care Endocrinology Internal Medicine Early Diagnosis Family Practice & Management OB/GYN Screening Wellness Channels Direct/Partner Mix 21

Sono. Site’s Expanding Global Presence Subsidiaries Major Regional Sales Offices Corporate Headquarters CANADA (Toronto) Sono. Site’s Expanding Global Presence Subsidiaries Major Regional Sales Offices Corporate Headquarters CANADA (Toronto) UNITED KINGDOM SEATTLE GERMANY FRANCE SPAIN Miami United Arab Emirates Mexico JAPAN Shanghai India Singapore Brasillia AUSTRALIA/ NEW ZEALAND 7 Direct Subsidiaries 75 Distributors 22

Revenue Growth $116 mm CAGR 63% $85 mm $73 mm 1 st Quarter $46 Revenue Growth $116 mm CAGR 63% $85 mm $73 mm 1 st Quarter $46 mm $34 mm $32 mm $24 mm $10 mm 1999 2000 2001 2002 2003 2004 ‘ 05 23

Expanding Gross Margins 1 st Quarter 59. 2% 63. 5% 67. 4% 70. 2% Expanding Gross Margins 1 st Quarter 59. 2% 63. 5% 67. 4% 70. 2% 64. 8% 52. 2% 41. 8% 36. 2% 1999 2000 2001 2002 2003 2004 ‘ 05 24

Moving Toward Profitability 2004 1999 2000 2001 2002 2003 1 st Quarter ‘ 04 Moving Toward Profitability 2004 1999 2000 2001 2002 2003 1 st Quarter ‘ 04 $0. 23 * -$0. 12 ‘ 05 $0. 05 -$0. 10 -$0. 59 -$1. 59 -$2. 01 -$3. 08 * Excludes tax benefit of $1. 23 per share 25

Balance Sheet Strength ($ millions) March 31, 2005 Cash and Investments $ 61. 5 Balance Sheet Strength ($ millions) March 31, 2005 Cash and Investments $ 61. 5 Total Assets $ 155. 2 Long-term Debt Stockholders’ Equity Current Ratio -0$ 136. 2 5: 1 26

Nasdaq: SONO www. sonosite. com 27 Nasdaq: SONO www. sonosite. com 27