SonoSite to buy back $50 million in stock

Published 10:22 am Friday, June 11, 2010

BOTHELL — SonoSite Inc. announced Friday it will repurchase up to $50 million of its common stock over the next year.

The Bothell-based ultrasound company has already bought back about 3 million shares since February, at a cost of roughly $89 million.

The additional stock purchases will be funded with cash on hand, according to a statement from the company.

At the end of March, SonoSite had about $178 in cash and short-term investment securities.