This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
See Cramer's multi-million dollar portfolio for FREE and get his new book Get Rich Carefully! Learn More

Vascular Solutions Reports Record Fourth Quarter Results

  • Q4 net revenue increased 14.5% to $25.3 million
  • Q4 earnings per share grew 39% to $0.18
  • Provides 2013 guidance of $106-$110 million in net revenue and $0.66-$0.70 EPS

MINNEAPOLIS, Feb. 5, 2013 (GLOBE NEWSWIRE) -- Vascular Solutions, Inc. (Nasdaq:VASC) today reported financial results for the fourth quarter ended December 31, 2012. Net revenue increased 14.5% from the fourth quarter of 2011 to a record $25.3 million. U.S. product revenue increased 17% to $21.5 million while international product revenue increased 4% to $3.8 million compared to the year-ago fourth quarter. Net revenue was within the company's guidance range of $25.0 million to $26.0 million.

Gross margin across all product lines was 67.2% in the fourth quarter of 2012, an increase from 65.7% in the fourth quarter of 2011, and a sequential increase from 66.7% in the third quarter of 2012. Most of the year-over-year improvement in product gross margin was the result of increasing sales of higher margin products and the January 2012 purchase of the intellectual property relating to the Pronto ® catheters, which resulted in the elimination of royalty expenses on the Pronto products.

Operating income for the fourth quarter was $4.7 million, representing an operating margin of 18.5% and an increase from an operating margin of 15.6% in the fourth quarter of 2011.

Net income for the fourth quarter of 2012 was $3.1 million, a 41% increase from the year-earlier fourth quarter. Earnings per diluted share were $0.18, an increase of 39% from the $0.13 reported in the year-earlier quarter. EPS in the fourth quarter of 2012 exceeded the company's guidance range of $0.16-$0.17.

"During the fourth quarter we continued the very strong performance that characterized our first three quarters of 2012," commented Howard Root, Chief Executive Officer of Vascular Solutions. "Revenue reached a record quarterly level, and we surpassed our long-term milestone of attaining $100 million in annualized sales. For the full year, we are proud to have delivered our 9 th consecutive year of double-digit product revenue growth while continuing to improve our operating profits by an even higher percentage and generating record operating cash flows."

Fourth Quarter Revenue by Product Line

Net sales of catheter products, the company's largest product line, were $15.6 million during the fourth quarter of 2012, an increase of 14% compared to $13.7 million in the fourth quarter of 2011.

Stock quotes in this article: VASC 

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
DOW 16,390.84 +128.28 0.79%
S&P 500 1,855.94 +12.96 0.70%
NASDAQ 4,070.7360 +36.5750 0.91%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs