June 14, 2010 (FinancialWire) — SonoSite, Inc. (NASDAQ: SONO), a specialist in bedside and point-of-care ultrasound, has authorized a stock repurchase program under which the company may purchase up to $50 million of its common stock over the next twelve months.

Since February, SonoSite has repurchased a total of around three million shares of its common stock through a modified “Dutch Auction” tender offer at a total cost of $88.8 million.

As of March 31, 2010, SonoSite reported having around $178 million in cash, cash equivalents and short-term investment securities.

Washington-based SonoSite offers hand-carried ultrasound and impedance cardiography equipment. The company is represented by ten subsidiaries and a global distribution network in over 100 countries.

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