SAN DIEGO, Aug. 1, 2011 /PRNewswire/ -- Volcano Corporation (NASDAQ: VOLC), a leading developer and manufacturer of precision intravascular diagnosis and therapy guidance tools designed to enhance the treatment of coronary and peripheral artery disease, said today that revenues for the second quarter of 2011 increased 14 percent versus the second quarter a year ago in total, including a 22 percent increase in medical segment revenues versus the second quarter a year ago.
For the quarter ended June 30, 2011, Volcano reported revenues of $84.0 million versus revenues of $73.5 million in the second quarter a year ago. The company reported net income on a GAAP basis of $4.9 million, or $0.09 per diluted share, in the second quarter of 2011, versus net income on a GAAP basis of $5.4 million, or $0.10 per diluted share, in the second quarter of 2010.
Year-over-year the company's medical segment revenues increased 22 percent for the first quarter of 2011 and 24 percent for the first half of 2011. Industrial segment revenues in the second quarter declined 59 percent year-over-year and 44 percent in the first half of 2011 versus the first half of 2010 - due to the downturn in the telecom industry.
For the first six months of 2011, Volcano reported revenues of $165.0 million, an 18 percent increase over revenues of $140.0 million in the same period a year ago. The company reported GAAP net income of $6.0 million, or $0.11 per diluted share, in the first six months of 2011. This compares with GAAP net income of $1.4 million, or $0.03 per diluted share, in the same period in 2010.
"During the quarter, we continued to successfully drive our initiatives to achieve market share gains and increase utilization for our core FM (Functional Management) and IVUS (Intravascular Ultrasound) offerings. Year-over-year revenues from the sale of IVUS and FM disposables increased 22
|SOURCE Volcano Corporation|
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