BOSTON (Thomson Financial) - Shares of Vascular Solutions Inc. jumped
Tuesday after the Minneapolis-based medical device company reported
fourth-quarter earnings that were in line with Wall Street forecasts.
The stock was up nearly 11% at $6.63 on volume of 25,199. The issue's 30-day
average volume is about 38,000.
Late Monday, Vascular Solutions said fourth-quarter net income rose to
$519,000, or 3 cents a share, meeting the mean estimate of analysts polled by
Thomson Financial. Revenue rose 25% to $14.4 million, topping analysts'
expectations of $13.7 million.
A year ago, the company posted net income of $90,000, or 1 cents a share, on
revenue of $11.5 million.
For 2008, Vascular Solutions reiterated its guidance for adjusted earnings
of 25 cents to 33 cents a share on revenue of $61 million to $64 million.
The mean estimate of analysts polled by Thomson Financial is for 2008
earnings of 27 cents a share. Three analysts estimate, on average, revenue of
$62.5 million in 2008.
Casey Logan
cl/pc
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