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Volcano Corporation Announces Preliminary Record Revenues for Fourth Quarter 2009; Total Year Revenues are Expected to Exceed Prior Guidance
Date:1/11/2010

SAN DIEGO, Jan 11 /PRNewswire-FirstCall/ -- Volcano Corporation (Nasdaq: VOLC), a leader in the development, manufacture and sales of products for the diagnosis and treatment of coronary and peripheral artery disease, said today that it expects total revenues for fiscal 2009 will be approximately $228.0 million, with revenues in the fourth quarter of fiscal 2009 expected to be approximately $71.0 million.

The revenue expectations for fiscal 2009 compare with the company's prior guidance for fiscal 2009 revenues of $218.0-$223.0 million, and reflect year-over-year revenue growth of approximately 33 percent. The expectations for revenues in the fourth quarter of 2009 represent an increase of approximately 44 percent over revenues in the fourth quarter of 2008. The results for the full year and fourth quarter of 2009 include revenues of approximately $18.0 million and $5.8 million, respectively, from Axsun Technologies, Inc., which Volcano acquired at the end of 2008, and for which the company recorded no meaningful revenues in either period during 2008.

"Our financial performance for the quarter was driven by strong growth across our core businesses and in our key geographies. In particular, we saw growth in capital equipment sales in the U.S. and Europe and continued adoption of our IVUS (Intravascular Ultrasound) and FM (Functional Measurement) disposables. In addition, we benefitted from our going direct transition in Japan," noted Scott Huennekens, president and chief executive officer of Volcano.

The company said it was providing the updated revenue projections for 2009 in advance of meetings with the investment community and a presentation at the 28th Annual J.P. Morgan Healthcare Conference this week. The company's presentation will occur at 2 p.m., Pacific Standard Time (5 p.m. Eastern Sta
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SOURCE Volcano Corporation
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