UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549


                                  SCHEDULE 13G
                               (Amendment No. 1)*


                    Under the Securities Exchange Act of 1934



                             SOMANETICS CORPORATION
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                                (Name of Issuer)

                     Common Stock, par value $0.01 per share
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                         (Title of Class of Securities)

                                    834445405
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                                 (CUSIP Number)

                                December 31, 2007
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             (Date of Event Which Requires Filing of this Statement)


Check the  appropriate box to designate the rule pursuant to which this Schedule
13G is filed:

                [ ] Rule 13d-1(b)
                [X] Rule 13d-1(c)
                [ ] Rule 13d-1(d)


*The  remainder of this cover page shall be filled out for a reporting  person's
initial filing on this form with respect to the subject class of securities, and
for any  subsequent  amendment  containing  information  which  would  alter the
disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the  Securities  Exchange  Act of
1934 ("Act") or otherwise  subject to the liabilities of that section of the Act
but  shall be  subject  to all other  provisions  of the Act  (however,  see the
Notes).





CUSIP NO.   834445405
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(1)     Names of Reporting Persons.  I.R.S. Identification Nos. of Above Persons
        (entities only):

                Merrion Investment Management Company, L.L.C.
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(2)     Check the Appropriate Box if a Member of a Group (See Instructions)

          (a)  [ ]                      (b)  [ ]
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(3)     SEC Use Only
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(4)     Citizenship or Place of Organization:   New Jersey
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 Number of Shares Beneficially Owned
   by Each Reporting Person With      (5) Sole Voting Power:             81,450*
                                          --------------------------------------
                                      (6) Shared Voting Power:            5,700*
                                          --------------------------------------
                                      (7) Sole Dispositive Power:        81,450*
                                          --------------------------------------
                                      (8) Shared Dispositive Power:       5,700*
                                          --------------------------------------
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(9)     Aggregate Amount Beneficially Owned by Each Reporting Person:
                     87,150*
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(10)    Check  Box if  the Aggregate Amount  in Row (9) Excludes  Certain Shares
        (See Instructions):  [X]*
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(11)    Percent of Class Represented by Amount in Row (9):   0.7%*
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(12)    Type of Reporting Person (See Instructions):   IA
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* As of December 31, 2007, (i) certain affiliates (the "Affiliated Entities") of
Merrion Investment Management Company, L.L.C. ("MIM"), held 26,500 shares of the
common  stock,  par  value  $0.01  per  share  (the  "Shares"),   of  SOMANETICS
CORPORATION,  a Michigan  corporation (the  "Company"),  (ii) William B. Wigton,
chairman of MIM, held no Shares,  (iii) an immediate family member of Mr. Wigton
held no Shares,  (iv) certain managed  accounts of MIM (the "Managed  Accounts")
held 54,950  Shares,  (v) certain  discretionary  brokerage  accounts held at an
affiliate of MIM (the  "Brokerage  Accounts")  held an aggregate of 5,700 Shares
and (vi)  certain  nondiscretionary  accounts  held at an  affiliate of MIM (the
"Nondiscretionary  Accounts")  held an  aggregate of 22,960  Shares.  MIM, a New
Jersey limited liability company and an investment  adviser  registered with the
Securities  and Exchange  Commission,  serves as the  investment  manager of the
Affiliated  Entities and the Managed  Accounts and possesses  sole power to vote
and direct the disposition of all Shares held by the Affiliated Entities and the
Managed  Accounts.  MIM may also be deemed to share the power to vote and direct
the  disposition  of Shares  held by or for the  benefit  of Mr.  Wigton and his
immediate  family.  Mr.  Wigton  serves as the  investment  representative  with
respect to the  Brokerage  Accounts and may be deemed to share the power to vote
and direct the disposition of Shares held in the Brokerage Accounts.  Neither of
MIM nor Mr.  Wigton  possess the power to vote or to direct the  disposition  of
Shares held by the Nondiscretionary Accounts. Thus, as of December 31, 2007, for
the purposes of Reg.  Section  240.13d-3,  MIM may be deemed to beneficially own
87,150  Shares,  or 0.7% of the Shares deemed issued and  outstanding as of that
date. MIM expressly  disclaims  beneficial  ownership of the Shares beneficially
owned and held by, or for the benefit of, Mr. Wigton,  his immediate family, the
Brokerage Accounts and the Nondiscretionary Accounts.





Item 1(a).  Name of Issuer.    SOMANETICS CORPORATION


Item 1(b).  Address of Issuer's Principal Executive Offices.
            1653 East Maple Road, Troy, Michigan 48083-4208


Item 2(a).  Name of Person Filing.
            Merrion Investment Management Company, L.L.C.

Item 2(b).  Address of Principal Business Office or, if None, Residence.
            210 Elmer Street, Westfield, NJ 07090-2128

Item 2(c).  Citizenship.
            Merrion Investment Management Company, L.L.C. is a New Jersey
            limited liability company.

Item 2(d).  Title of Class of Securities.
            Common Stock, par value $0.01 per share

Item 2(e).  CUSIP No.  834445405


Item 3.     If This Statement Is Filed Pursuant to Sections 240.13d-1(b) or
            240.13d-2(b) or (c), Check Whether the Person Filing is a:

            Not applicable.


Item 4.  Ownership.

         (a)   Amount Beneficially Owned (as of December 31, 2007)       87,150*

         (b)   Percent of Class (as of December 31, 2007)                  0.7%*

         (c)   Number of Shares as to which such person has:

                 (i)  sole power to vote or to direct the vote           81,450*

                 (ii) shared power to vote or to direct the vote          5,700*

                (iii) sole power to dispose or to direct the
                      disposition of                                     81,450*

                 (iv) shared power to dispose or to direct the
                      disposition of                                      5,700*


* As of December 31, 2007, (i) certain affiliates (the "Affiliated Entities") of
Merrion Investment Management Company, L.L.C. ("MIM"), held 26,500 shares of the
common  stock,  par  value  $0.01  per  share  (the  "Shares"),   of  SOMANETICS
CORPORATION,  a Michigan  corporation (the  "Company"),  (ii) William B. Wigton,
chairman of MIM, held no Shares,  (iii) an immediate family member of Mr. Wigton
held no Shares,  (iv) certain managed  accounts of MIM (the "Managed  Accounts")
held 54,950  Shares,  (v) certain  discretionary  brokerage  accounts held at an
affiliate of MIM (the  "Brokerage  Accounts")  held an aggregate of 5,700 Shares
and (vi)  certain  nondiscretionary  accounts  held at an  affiliate of MIM (the
"Nondiscretionary  Accounts")  held an  aggregate of 22,960  Shares.  MIM, a New
Jersey limited liability company and an investment  adviser  registered with the
Securities  and Exchange  Commission,  serves as the  investment  manager of the
Affiliated  Entities and the Managed  Accounts and possesses  sole power to vote
and direct the disposition of all Shares held by the Affiliated Entities and the
Managed  Accounts.  MIM may also be deemed to share the power to vote and direct
the  disposition  of Shares  held by or for the  benefit  of Mr.  Wigton and his
immediate  family.  Mr.  Wigton  serves as the  investment  representative  with
respect to the  Brokerage  Accounts and may be deemed to share the power to vote
and direct the disposition of Shares held in the Brokerage Accounts.  Neither of
MIM nor Mr.  Wigton  possess the power to vote or to direct the  disposition  of
Shares held by the Nondiscretionary Accounts. Thus, as of December 31, 2007, for
the purposes of Reg.  Section  240.13d-3,  MIM may be deemed to beneficially own
87,150  Shares,  or 0.7% of the Shares deemed issued and  outstanding as of that
date. MIM expressly  disclaims  beneficial  ownership of the Shares beneficially
owned and held by, or for the benefit of, Mr. Wigton,  his immediate family, the
Brokerage Accounts and the Nondiscretionary Accounts.






Item 5.   Ownership of Five Percent or Less of a Class.

          If this  statement  is being  filed to report  the fact that as of the
date hereof the reporting  person has ceased to be the beneficial  owner of more
than five percent of the class securities, check the following |X|.

Item 6.   Ownership of More Than Five Percent on Behalf of Another Person.

          Not Applicable.


Item 7.   Identification and Classification of the Subsidiary Which Acquired the
          Security Being Reported on by the Parent Holding Company.

          Not Applicable.


Item 8.   Identification and Classification of Members of the Group.

          Not Applicable.


Item 9.   Notice of Dissolution of Group.

          Not Applicable.


Item 10.  Certification.

          By signing  below I certify  that,  to the  best of  my knowledge  and
belief, the securities  referred to above were not acquired and are not held for
the purpose of or with the effect of changing or influencing  the control of the
issuer of the  securities  and were not acquired and are not held in  connection
with or as a participant in any transaction having that purpose or effect.







                                    SIGNATURE


          After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information  set forth in this statement is true,  complete and
correct.

                                      February 8, 2008


                                      MERRION INVESTMENT MANAGEMENT COMPANY, LLC

                                      By: /s/ Randolph Rogers
                                         ---------------------------------------
                                         Name:  Randolph Rogers
                                         Title: Chief Financial Officer



      Attention: Intentional misstatements or omissions of fact constitute
                Federal criminal violations (See 18 U.S.C. 1001)