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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

imately $20.0 million versus 2012. Revenue growth on a constant currency basis in 2013 is expected to be approximately eight-to-nine percent, with medical segment revenues increasing approximately nine-to-ten percent on a constant currency basis. The company indicated its revenue expectations factor in revised growth rates for its FFR business in Japan and the shift of approximately $1.5 million in ophthalmology revenues at Axsun Medical from the second half of 2013 to 2014.

The company also provided preliminary revenue guidance for 2014, indicating it expects revenues will increase year-over-year in the range of nine-to-11 percent on a reported basis and eight-to-ten percent on a constant currency basis.

"Our outlook for 2014 reflects several factors, including an expectation that PCI's will be down approximately 2.5 percent in the U.S., two percent in Japan and flat in Europe year-over-year," Huennekens noted. "In addition, we are anticipating a reduction of approximately 7.5 percent in reimbursement for all of our disposable products in Japan, beginning in the second quarter of the year.

"At the same time, we expect to benefit from growing revenues from our peripheral IVUS catheters as we continue to expand our sales and marketing initiatives in that market, as well as from our new offerings, including our Crux® inferior vena cava (IVC) filter, the Sync-RX platform technology, the PioneerPlus™ Re-Entry Catheter that we acquired at the end of August and our newly-launched Verrata™ everyday FFR wire. Additionally, we expect to see continued adoption of our iFR® (Instant Wave-Free Ratio™) FFR offering in Japan and Europe, and would expect to have regulatory approval and begin commercial sales in the U.S. in the latter half of 2014.

"As these new offerings continue to ramp in 2014, we would expect that Volcano can return to annual revenue growth in the low-to-mid-teens on a reported basis beginning in 2015,"
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SOURCE Volcano Corporation
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