Vascular Solutions (VASC) Tops Q4 EPS by 5c

Vascular Solutions (NASDAQ: VASC) reported Q4 EPS of $0.23, $0.05 better than the analyst estimate of $0.18. Revenue for the quarter came in at $33.6 million versus the consensus estimate of $32.82 million.

"We are very pleased to report another record quarterly performance to close out our 11th consecutive year of double-digit product revenue growth," said Howard Root, Chief Executive Officer of Vascular Solutions. "Both our sales and earnings during the fourth quarter exceeded the top end of our guidance range, and as we move into 2015 we have very strong momentum in our new product introductions. During 2015 we expect to sustain our record of double-digit revenue growth and preserve our operating leverage while continuing to invest in developing new medical devices that improve clinical outcomes for patients, which has been the hallmark of our business."

"The strength and durability of our business model, which has been in place now for more than a decade, was once again apparent during 2014," Mr. Root added. "Just as we have in each of the previous ten years, in 2014 we launched multiple clinically-relevant products, demonstrated above-market revenue growth, and leveraged more products through our direct U.S. sales force and our independent distributor network in more than 50 countries. We are excited about our outlook for 2015 and for many years to come. Our internal pipeline of new clinically-relevant medical devices is exceptionally strong, with more than 40 projects at various stages of development, and with several longer-term large opportunities led by our fast-track development of freeze-dried plasma in partnership with the U.S. Army. Our strengths in sales and marketing make Vascular Solutions a sought-after distribution partner, while our strong cash position and working capital flexibility give us the ability to pursue tuck-in acquisitions that will enhance our growth."

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

You May Also Be Interested In

• Tesla touts acceleration of new models, but Q1 results fall short of estimates
• IDEX Corp. (IEX) Tops Q1 EPS by 13c ; Offers Guidance
• Eastgroup Properties (EGP) Tops Q1 EPS by 17c, provides guidance