Volcano Corporation (VOLC) reported a fourth-quarter net loss of $12.07 million or $0.25 per share compared to profit of $1.36 million or $0.03 per share last year.
Non-GAAP net income increased to $6.96 million or $0.14 per share from $4.17 million or $0.08 per share last year.
On average, 10 analysts polled by Thomson Reuters expected the company to report a loss of $0.02 per share for the quarter. Analysts' estimates typically exclude special items.
Revenues increased to $71.01 million from $49.25 million a year ago. Analysts expected revenue of $68.37 million for the quarter.
The company provided financial guidance for 2010. On a consolidated basis, Volcano expects total revenues in fiscal 2010 of $277 million-$282 million. On a GAAP basis, the company expects to report net income of $0.05-$0.10 per diluted share. Excluding stock-based compensation expense of approximately $13.3 million, Volcano expects to report net income of $0.30-$0.35 per diluted share for fiscal 2010.
The company expects to be profitable on a GAAP basis beginning in the third quarter of fiscal 2010 and profitable on a GAAP basis for all of fiscal 2010.
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