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Medical Device Maker Reports Record Revenue, Profit

Medical device maker Volcano Corp. said July 30 that it attained record revenue and profitability for its second quarter. The business said it had net income of $5.4 million on revenue of $73.5 million. One year ago, it reported a net loss of $5.3 million on revenue of $54 million.

Volcano also said July 30 that it agreed to acquire privately held Fluid Medical Inc. for $4.2 million in cash.

Also, Volcano updated its 2010 earnings forecast to the range of $286 million to $290 million, raising it from $277 million to $282 million.

Volcano specializes in catheters and other devices for working in veins.

Company shares trade on Nasdaq as VOLC. As of July 30, the stock had a 52-week range of $13.45 to $25.75. Shares stood at $21.78 in late trading that day, up more than 3 percent from the previous day’s closing price.

— Brad Graves

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