SALT LAKE CITY, June 23 Sonic Innovations, Inc.(Nasdaq: SNCI), the only U.S.-based publicly traded manufacturer of digitalhearing aids, announced today that the Company projects second quarter revenueto be approximately $34 million, an increase from record first quarter 2008sales that were reported at $31.9 million and second quarter 2007 revenue of$30.4 million.
"We continue to grow rapidly, even though the economic environment is softin some markets," said CEO Sam Westover.
ABOUT SONIC INNOVATIONS:
Sonic Innovations is a global provider of superior hearing solutions. Thecompany is passionate about quality, technology, and improving the lives ofthe hearing impaired. Sonic Innovations and its hearing-healthcare partnersare passionate about bettering the lives of their patients.
Sonic Innovations, headquartered in Salt Lake City, Utah, hasinternational offices and manufacturing centers across the globe. Through itsdistribution partners, Sonic Innovations provides hearing care services andsolutions in more than 25 countries. Sonic Innovations is listed on the NASDAQGlobal Market System (SNCI) and can be found online at http://www.sonici.com.
Sonic Innovations has sold more than 1,000,000 hearing instruments.
This press release contains "forward-looking statements" as defined undersecurities laws including our revenue projections for second quarter 2008.Actual results may differ materially and adversely from those described hereindepending on a number of factors including, but not limited to, the followingrisks: we face aggressive competition in our business; acquisitions could bedifficult to integrate and disrupt our current business and therefore may harmour operating results; we may not achieve revenue projections; we may notlaunch more product lines this year; our products may not help people hearbetter or more naturally; we may poorly operate newly acquired businesses; wemay lose a large customer or suffer a reduction in orders from a largecustomer; we must have innovative, technologically superior products tocompete effectively; our products, due to their complexity, may contain errorsor defects that are only discovered after sales by our customers, thus harmingour reputation and business; we may have issues with intellectual property;and we have important international operations, which expose us to a varietyof risks including government reimbursement, that could impact sales andoperating results. For additional information regarding the risks inherent inour business, please see "Factors That May Affect Future Performance" includedin our Annual Report on Form 10-K for the year ended December 31, 2007, asfiled with the Securities and Exchange Commission.
We undertake no obligation to revise our forward-looking statements toreflect events or circumstances after the date hereof as a result of newinformation, future events or otherwise.
SOURCE Sonic Innovations, Inc.