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[sludgehound]

VOLC 5 year low 12.085

11:40 AM EDT, 08/08/2014 (MT Newswires) -- Volcano (VOLC) is lower and earlier hit a five-year low after the company said late Thursday that for Q2, earnings topped analysts' expectations, while revenue missed estimates despite a year-over-year increase.
Shares are down 23% at $12.13, sinking to $12.42 - the lowest since May 2009.
The company, which designs, develops, manufactures and commercializes precision guided therapy tools, including intravascular ultrasound and fractional flow reserve products, reported Q2 GAAP earnings of $282,000, or $0.01 per diluted share, compared with net loss of $2.4 million, or $0.04 per share in the prior-year period. 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 same quarter a year ago. The Capital IQ analyst estimate is for $0.05 loss per share..
Revenue was $102.6 million, up from $101.3 million in the same quarter last year. Analysts were expecting revenue of $103.23 million.
The company also announced today that it will be seeking a divestiture of its Axsun Technologies, Inc. subsidiary. In addition, VOLC said that it and St. Jude Medical, Inc., (STJ) have agreed to settle all existing litigation between the two companies.
STJ shares are up 0.03% at $63.46.
Price: 12.13, Change: -3.65, Percent Change: -23.13
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