Close

Vascular Solutions (VASC) Reports Q3 EPS of 15c, Offers Guidance

October 21, 2014 4:15 PM EDT

Vascular Solutions (NASDAQ: VASC) reported Q3 EPS of $0.15, may not compare the analyst estimate of $0.20. Revenue for the quarter came in at $31.9 million versus the consensus estimate of $31.1 million.

Vascular Solutions sees Q4 2014 revenue of $32.5-33.5 million, versus the consensus of $32.1 million.

Financial Guidance

For 2014, Vascular Solutions is raising its net revenue guidance to a range of $125 million to $126 million. The mid-point of the new range represents an increase of approximately 14% from $110.5 million revenue in 2013. Previously, the company's revenue guidance range for 2014 was $123 million to $125 million.

Due to the non-cash tax adjustment incurred in the third quarter and increased legal expenses, Vascular Solutions is revising its GAAP earnings guidance for 2014 to a range of $0.65-$0.67 per share. Included in the company's 2014 earnings guidance are $3.9 million in non-cash stock-based compensation, $1.6 million in amortization of intangibles, between $1.4 million and $1.5 million for the U.S. medical device excise tax, and an assumed 39.9% tax rate, or 36% as adjusted for the Minnesota state tax adjustment recorded in the third quarter.

For the fourth quarter of 2014, Vascular Solutions is providing guidance for net revenue of between $32.5 million and $33.5 million, which at the mid-point represents growth of more than 13% from $29.1 million revenue in the fourth quarter of 2013. Net earnings for the fourth quarter of 2014 on a GAAP basis are projected to be between $0.16 and $0.18 per fully diluted share. The company's net earnings guidance for the fourth quarter of 2014 includes approximately $2 million in legal expenses related to the Short Kit investigation, $850,000 in non-cash stock-based compensation, approximately $410,000 in amortization of intangibles, approximately $390,000 for the U.S. medical device excise tax, and an assumed 36% effective income tax rate.

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



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Earnings, Guidance

Related Entities

Earnings