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Volcano Corporation Reports 13 Percent Growth In Second Quarter Revenues; FFR Disposable Revenues Increase 38 Percent
Date:8/2/2012

SAN DIEGO, Aug. 2, 2012 /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, today said revenues for the  second quarter of 2012 increased 13 percent over second quarter revenues a year ago.

For the quarter ended June 30, 2012, Volcano reported revenues of $95.4 million versus revenues of $84.0 million in the second quarter a year ago. Medical segment revenues increased 13 percent versus the second quarter a year ago.

The company reported net income of $3.3 million, or $0.06 per diluted share, in the second quarter of 2012, versus net income of $4.9 million, or $0.09 per diluted share, in the second quarter of 2011.

For the first six months of 2012, Volcano reported revenues of $185.7 million, an increase of 13 percent versus $165.0 million in the same period a year ago. Medical segment revenues increased 14 percent year-over year. The company reported net income of $3.6 million, or $0.06 per diluted share, compared with net income of $6.0 million, or $0.11 per diluted share, in the first six months of 2011.

"Volcano continued to advance its Functional PCI message among both clinicians and hospital administrators while capitalizing on the macroeconomic trends impacting the sector—including the growing need for evidence and documentation of medical necessity," said Scott Huennekens, president and chief executive officer.

"Our multi-modality platform and technology innovation are driving our market share gains. We are achieving growth greater than the overall growth of the FFR (Fractional Flow Reserve) and IVUS (Intravascular Ultrasound) markets, particularly in FFR where quarterly disposable revenues increased 38 percent versus a year ago. Our gains in FFR and IVUS were offset
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