Last $11.41 USD
Change Today -0.15 / -1.30%
Volume 556.6K
VOLC On Other Exchanges
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As of 8:10 PM 09/19/14 All times are local (Market data is delayed by at least 15 minutes).

volcano corp (VOLC) Key Developments

Volcano Seeks Acquisitions

Volcano Corporation (NasdaqGS:VOLC) seeks acquisitions. "From a growth standpoint, we feel very good about what we have in our ability to grow the 6% to 8% that we talked about and our focus is on doing that. Is there some small acquisition that I see us making in the next 12 to 24 months, maybe $50 million or less, yes, but that will be it. And again it would be a product that doesn't have regulatory risk, doesn't have development risk, and is either on the market or ready to go-to-market where there is not a bunch of additional spends and they can leverage our existing distribution networks. So we see minimal M&A for us here over the next 12 to 24 months. We're going to focus on executing on what we have," said, Scott Huennekens, Volcano Corporation - Chief Executive Officer.

Volcano Corporation Presents at 2014 Morgan Stanley Global Healthcare Conference, Sep-09-2014 11:10 AM

Volcano Corporation Presents at 2014 Morgan Stanley Global Healthcare Conference, Sep-09-2014 11:10 AM. Venue: The Grand Hyatt Hotel, New York, New York, United States. Speakers: R. Scott Huennekens, Chief Executive Officer, President and Director.

Volcano Corporation Reports Unaudited Consolidated Earnings Results for the Second Quarter and First Six Months Ended June 30, 2014; Provides Earnings Guidance for the Third Quarter and Full Year of 2014

Volcano Corporation reported unaudited consolidated earnings results for the second quarter and first six months ended June 30, 2014. For the quarter ended June 30, 2014, the company reported revenues of $102.6 million against revenues of $101.3 million in the same period a year ago. Foreign currency exchange rates did not have a material impact on revenues during the quarter. Medical segment revenues increased approximately 2% on a reported basis. The company reported net income on a GAAP basis of $282,000, or $0.01 per diluted share, in the second quarter of 2014, against a net loss of $2.4 million, or $0.04 per share, in the same period a year ago. The results for the second quarter of 2014 included an acquisition-related benefit of $7.2 million related to an adjustment to a contingent liability resulting in a net benefit of $6.4 million, while the results for the second quarter of 2013 included a gain on a strategic investment of $2.2 million. Excluding acquisition-related items, amortization of intangibles and non-cash interest expense on convertible notes, net of tax, the company reported non-GAAP net income of $0.01 per diluted share, compared with non-GAAP earnings per diluted share of $0.03 in the second quarter a year ago. Operating income was $7.305 million against operating loss of $0.114 million a year ago. Income before income tax was $0.267 million against loss before income tax of $4.438 million a year ago. Non-GAAP net income was $0.534 million. For the first six months of 2014, the company reported revenues of $197.1 million against revenues of $194.6 million in the first six months of 2013. On a constant currency basis, revenues increased 3% year-over-year after adjusting for a negative impact of approximately $2.7 million from foreign currency. For the first six months of 2014, the company reported a net loss on a GAAP basis of $10.6 million, or $0.21 per share, against a net loss of $5.5 million, or $0.10 per share, in the same period a year ago. The results for the first six months of 2014 included a net acquisition-related benefit of $5.4 million, while the results for the first six months of 2013 included other income of $4.2 million. Excluding acquisition-related items, amortization of intangibles and non-cash interest expense on convertible notes, net of tax, the company reported a non-GAAP net loss of $0.10 per share in the first six months of 2014, compared with non-GAAP net earnings per diluted share of $0.06 in the first six months of 2013. Operating loss was $1.210 million against $1.902 million a year ago. Loss before income tax was $14.917 million against $11.313 million a year ago. Net cash used in operating activities was $1.941 million against net cash provided by operating activities of $1.527 million a year ago. Capital expenditures were $14.661 million against $18.490 million a year ago. Non-GAAP net loss was $5.336 million. The company provided updated guidance for the full year 2014. Based on current foreign currency exchange rates, it expects revenues on a reported basis will be $397.0-$401.0 million, with revenues on a constant currency basis in the range of $401.0-$405.0 million. The company said it expects gross margins will be in the range of 63.0-63.5% and that operating expenses, including restructuring charges, will be 65.5-66.5% of revenues. On a reported basis, the company expects a GAAP net loss of $0.52-$0.55 per share. The company is maintaining its prior guidance for a net loss per share of $0.16-$0.19 on a non-GAAP basis. Non-GAAP results exclude acquisition-related expenses, amortization of intangibles and non-cash interest expense, and assume an effective tax rate of 35.0% for the GAAP to non-GAAP adjustments. For the third quarter of 2014, the company expects revenues in the range of $95.0-$97.0 million on a reported and $95.5-$97.5 million constant currency basis. It expects gross margins will be in the range of 62.0-62.5% and that operating expenses will be in the range of 69.0-70.0% of revenues. The company expects a net loss per share of $0.17-$0.19 on a GAAP basis and $0.04-$0.06 on a non-GAAP basis.

Volcano Mulls Selling AXSUN

Volcano Corporation (NasdaqGS:VOLC) will be seeking a divestiture of AXSUN Technologies Inc.

Volcano Corporation - Analyst/Investor Day

Volcano Corporation - Analyst/Investor Day

 

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Price/Earnings NM Not Meaningful
Price/Sales 1.5x
Price/Book 1.9x
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