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