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Volcano Corporation Announces Third Quarter 2013 Revenues, Updated Revenue Guidance For Full Year 2013 And Preliminary Revenue Guidance For 2014
Date:10/28/2013

SAN DIEGO, Oct. 28, 2013 /PRNewswire/ -- Volcano Corporation (Nasdaq: VOLC), a leading developer and manufacturer of precision guided therapy tools designed to enhance the diagnosis and treatment of coronary and peripheral vascular disease, said today that it expects revenues for the third quarter of 2013 on a reported basis will be approximately $95.8 million. This compares with revenues on a reported basis of $93.7 million in the same period a year ago. The company said that FX exchange rates had a negative impact of approximately $5.4 million compared to the third quarter a year ago. Medical segment revenues increased approximately three percent and nine percent on a reported and constant currency basis, respectively. Based on current expectations, revenues for the first nine months of 2013 on a reported basis will be approximately $290.4 million versus $279.4 million a year ago. FX exchange rates had a negative impact of approximately $15.1 million dollars versus the first nine months of 2012.

"The company had a solid third quarter marked by very strong growth in our peripheral IVUS (Intravascular Imaging) and our FFR (Fractional Flow Reserve) businesses and an increase in European revenues of approximately 20 percent," said Scott Huennekens, president and chief executive officer. "Our business in the U.S. continued to be impacted by a decline in PCI volumes, although we are starting to see some stabilization in activity. In addition, while we experienced strong growth in our FFR business in Japan, revenues were not to our expectations," he added.

The company also provided updated revenue guidance for 2013, indicating that it expects revenues on a reported basis for the full year will be in the range of $391.0-$395.0 million. This compares with revenues on a reported basis of $381.9 million in 2012. FX exchange rates are expected to have a negative impact of approx
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