An ultrasonic receive system includes two receive beamformers. A first receive beamformer is optimized for imaging modes such as B-mode and color Doppler flow imaging, and therefore has high spatial resolution and wide bandwidth, while the accompanying second receive beamformer has a wide dynamic range and is dedicated for use in acquiring spectral Doppler information, which is typically narrowband compared to imaging information. The second receive beamformer achieves the sensitivity and low-noise performance of a dedicated single-channel pencil probe instrument yet it also performs electronic beam steering. Both receive beamformers can operate through a common transducer array, thereby increasing exam efficiency and permitting registration of spectral Doppler information with a B-mode or color Doppler flow image.