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Volcano Reports 14 Percent Increase in Fourth Quarter Revenues; Medical Segment Revenues Grow 20 Percent
Date:2/22/2012

SAN DIEGO, Feb. 22, 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 in the fourth quarter of 2011 increased 14 percent versus the fourth quarter of 2010.

For the quarter ended December 31, 2011, Volcano reported revenues of $92.7 million versus revenues of $81.2 million in the fourth quarter a year ago. Year-over-year medical segment revenues increased 20 percent in the fourth quarter of 2011. Industrial segment revenues in the fourth quarter declined 70 percent versus a year ago, due to reduced spending in the telecommunications sector.

The company reported net income on a GAAP basis of $29.4 million, or $0.54 per diluted share, in the fourth quarter of 2011, versus a net loss of $1.7 million, or $0.03 per share, in the fourth quarter of 2010. The results for the fourth quarter of 2011 include a benefit of $22.0 million, or $0.40 per diluted share, related to the release of a portion of the company's deferred tax valuation allowance.

For the full year 2011, Volcano reported revenues of $343.5 million, an increase of 17 percent over revenues of $294.1 million in 2010. Medical segment revenues increased 23 percent and industrial segment revenues decreased 52 percent year-over-year.

The company reported GAAP net income of $38.1 million, or $0.70 per diluted share, in 2011. This compares with GAAP net income of $5.2 million, or $0.10 per diluted share, in 2010. The results for the full year 2011 include the benefit of $22.0 million, or $0.40 per diluted share, related to the release of a portion of the company's deferred tax valuation allowance.

"During the quarter, we continued to advance our mission of being the leading precision guided therapy company by gain
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SOURCE Volcano Corporation
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