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news.Somanetics, a developer and marketer of noninvasive medical diagnostic and monitoring equipment, has reported a net income of $1.3 million, or $0.10 per diluted share, for the first quarter of 2009, compared with $1 million, or $0.07 per diluted share, for the same period of 2008.
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The company reported net revenues of $11.15 million for the first quarter ended February 28, 2009, a 28% increase, compared to $8.69 million for the same period of 2008.
Bruce Barrett, president and CEO of Somanetics, said: “We anticipate that fiscal 2009 will be a year of continued growth for Somanetics and its technology, and we also view it as a year of substantial investment. During the first quarter, we invested in sales, marketing and medical education to develop the neonatal intensive care unit (ICU) market.
“We are supporting our marketing initiatives with clinical research related to the use of the INVOS System in the neonatal ICU, and expect research to be presented at conferences later in 2009. In addition, we are continuing to make investments within R&D to capitalize on a number of opportunities to expand the applications for our technology.”