Vascular Solutions Inc. (VASC)

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Vascular Solutions, Inc. (VASC) Tops Q1 EPS by 1c

4:20 PM 4/23/2013 - StreetInsider

Vascular Solutions, Inc. (NASDAQ: VASC) reported Q1 EPS of $0.16, $0.01 better than the analyst estimate of $0.15. Revenue for the quarter came in at $26.1 million versus the consensus estimate of $26.51 million.

"Vascular Solutions continues to grow sales and earnings in a challenging medical device market through continuous new product innovation, a strategy which we maintained during the first quarter," said Howard Root, Chief Executive Officer of Vascular Solutions. "The underlying strength of our operating performance in the first quarter was masked to a degree by the impact of the recall of our Guardian hemostasis valves, which we estimate resulted in $350,000 in lost revenue in addition to $550,000 in recall expenses. However, we expect to correct this situation in the second quarter and resume shipments of Guardian products in June without additional expense, and we are very excited about the second quarter's global re-launch of the Venture catheter that we acquired last year from St. Jude Medical. With approximately ten additional new products in the pipeline scheduled for U.S. launch yet this year and 40 total new products in our development pipeline, we remain optimistic about our revenue and earnings growth for 2013 and beyond," Mr. Root added.

Vascular Solutions, Inc. sees FY2013 EPS of $0.66-0.70, versus the consensus of $0.67.

For earnings history and earnings-related data on Vascular Solutions, Inc. (VASC) click here.