Volcano Corp. Reports Revenue of $102.5M for Q4Friday, February 22, 2013
Volcano Corp. reported record revenue for the fourth quarter ending December 31. But the company’s earnings fell dramatically because its tax allowance was lowered. The San Diego-based company develops devices to diagnose and treat cardiovascular conditions.
The company’s quarterly revenue rose to $102.5 million, a 10 percent increase over the same period last year. But Volcano’s net income, or earnings, dropped $26.9 million in the course of a year. It fell to $2.5 million, or $0.04 per diluted share, in the fourth quarter of 2012, versus earnings of $29.4 million, or $0.54 per diluted share, in the fourth quarter of 2011.
For the full year of 2012, the company reported revenues of $381.9 million, an 11 percent increase over the $343.5 million revenue in 2011.
— SDBJ Staff Report