![]() As we look at our longer-term prospects, we are excited about the ongoing progress of our approximately 40 projects in various stages of development within our internal R&D pipeline, as well as our top-priority long-term development program for RePlas™ freeze-dried plasma in collaboration with the U.S. This year will mark Vascular Solutions’ 13 th consecutive year of double-digit growth in product sales, and we expect 2017 will be our 14 th year. “Our core strategy of launching multiple clinical specialty products continues to produce excellent financial results. “We are pleased to report another very strong quarter of growth and to set our guidance for sustained double-digit growth throughout 2017,” said Howard Root, CEO of Vascular Solutions. GAAP earnings per diluted share (EPS) during the third quarter was $0.31 compared to GAAP EPS in the year-earlier third quarter of $0.16. As a result of the jury’s full and final acquittal on all charges at the conclusion of the February 2016 trial, no Short Kit legal expenses were incurred in the third quarter of 2016, and no further legal expenses are expected to be incurred in connection with this matter. During the third quarter of 2015, the company incurred $2.8 million of legal expenses in connection with the Short Kit litigation. Operating earnings in the year-ago third quarter were $4.4 million, which represented an operating margin of 12%. Operating earnings were $7.2 million in the third quarter, representing an operating margin of 17%. For the fourth quarter, the company expects gross margin to be between 65.0% and 66.0%. No additional expenses are expected to be incurred in connection with the Twin-Pass catheter recall, and shipments of the Twin-Pass resumed on October 15 th. In addition, expenses associated with the previously-announced voluntary recall of the Twin-Pass ® catheter resulted in a reduction of 25 basis points in the third quarter gross margin. The decrease in gross margin was primarily due to product mix, reflecting a substantial increase in the sale of reprocessed vein catheters in the third quarter of 2016 which lowered overall gross margin by 100 basis points. Gross margin was 64.4%, compared to 67.2% in the year-ago quarter. Excluding for comparison purposes the launch inventory sales of the GuideLiner ® catheter into Japan in the year-ago third quarter, international revenue increased 19% and worldwide revenue increased 16% in the third quarter of 2016. revenue increased 15% to $33.7 million, while international revenue increased 4% to $8.1 million. Worldwide revenue increased 13% from the third quarter of 2015 to $41.8 million, near the top of the company’s revenue guidance of $41.0 million to $42.0 million. (Nasdaq:VASC) today reported financial results for the third quarter ended September 30, 2016. 24, 2016 (GLOBE NEWSWIRE) - Vascular Solutions, Inc. Preliminary guidance for 2017 set at revenue of $183-$187 million and GAAP EPS of $1.44-$1.48.Guidance for Q4 GAAP EPS set at $0.34-$0.36.Guidance for Q4 revenue set at $43.0-$44.0 million, representing growth of 14% at the midpoint.Q3 GAAP EPS of $0.31, at the top end of guidance.Q3 revenue increased 13% to $41.8 million, near the top end of guidance.Vascular Solutions established its revenue guidance for 2014 before the preliminary injunction so Vascular Solutions is maintaining its sales guidance for the year. ![]() A federal circuit ruling recently reversed that injunction costs associated with that patent infringement case and other legal expenses contributed to the reduced guidance figures for the rest of 2014. Vascular Solutions won a temporary injunction over patent infringement issues with Boston Scientific's Guidezilla guide extension catheter. GuideLiner sales also benefited because a competing catheter from Boston Scientific was off the market due to a preliminary injunction issued in December by the U.S. First-quarter sales of the company's GuideLiner catheter, one of its principal products, rose 40 percent as the company successfully introduced the product in Japan. Sales hit the midpoint of its expected quarterly sales range of $29.5 million to $30.5 million. ![]() ![]() The company expects its earnings for the year to be between 71 and 75 cents per share, a 12 percent increase over the 65 cents per share it reported for all of 2013. Overall net income for the quarter was $2.8 million or 17 cents per share, up from $2.1 million or 13 cents per share in the first quarter last year.īut Vascular Solutions said it has revised earnings guidance for 2014 due to higher-than-expected legal costs for the year. product sales rose 14 percent to $25 million while international sales grew faster - up 18 percent to $4.8 million. Vascular Solutions Inc.'s first-quarter revenue grew 15 percent to a record $29.9 million, the Maple Grove-based maker of products used in coronary and peripheral vascular procedures reported Tuesday.
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