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Volcano Reports Second Quarter Results; Medical Segment Revenues Increase More Than 13 Percent On A Constant Currency Basis
Date:8/5/2013

he added.

Guidance

The company reconfirmed its prior guidance for 2013. Based on current foreign currency exchange rates, it expects revenues on a reported basis of $394.0-$400.0 million, with revenues on a constant currency basis in the range of $418.0-$424.0 million.

The company expects gross margins on a reported basis will be in the range of 64.5-65.0 percent and that operating expenses will be 65.0-66.0 percent of revenues. On a reported basis, the company expects a GAAP net loss of $0.26-$0.28 per share. This assumes an expected tax benefit of approximately $0.20 per share, based on an annual tax rate of 38.5 percent, combined with a $1 million R&D tax credit from 2012 that was recorded in the first quarter of 2013. On a reported basis, the company expects non-GAAP net income of $0.03-$0.05 per diluted share. Non-GAAP results exclude acquisition-related expenses, amortization of intangibles and non-cash interest expense, and assume an effective tax rate of 38.0 percent for the GAAP to non-GAAP adjustments. The company expects weighted average basis shares in 2013 will be approximately 54.4 million shares and approximately 56.2 million shares on a diluted basis.

Conference Call Information

The company will hold a conference call at 2 p.m., Pacific Daylight Time, (5 p.m., Eastern Daylight Time) today. The teleconference can be accessed by calling (631) 291-4555, passcode 11845995, or via the company's website at http://www.volcanocorp.com. Please dial in or access the webcast 10-15 minutes prior to the beginning of the call. A replay of the conference call will be available through August 12, at (404) 537-3406 passcode 11845995, and via the company's website at http://www.volcanocorp.com.

About Volcano

Volcano Corporation (Nasdaq: VOLC) is revo
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SOURCE Volcano Corporation
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