Vascular Solutions droops on Q4, FY2015 earnings

Vascular Solutions (NSDQ:VASC) shares drooped over 10% after releasing a mixed bag of Q4 and its 2015 fiscal year earnings, beating the street for quarterly EPS and revenue, but missing for FY2015.

Minneapolis, Minn.-based Vascular solutions reported profits of $1.6 million, or 9¢ per share, on revenue of $38.1 million for the 3 months ended December 31. That amounts to a 62.6% bottom-line slide as sales grew 13.4% compared with the same period last year.

Adjusted to exclude 1-time items, earnings per share were 33¢, 7¢ above what Wall Street analysts were hoping to see from the company. Revenue numbers matched the Street, who were looking for $38.1 million.

For the full year, Vascular Solutions reported profits of $10.5 million, or 58¢ per share, on sales of $147.2 million for the year ended December 31. That totals out to a 17.8% bottom-line loss as sales swelled 16.7% compared with FY2014.

Adjusted to exclude 1-time items, earnings per share were $1.11, 6¢ off what Wall Street analysts were looking for for the year. Revenue expectations were a miss as well, with the Street looking for $164 million, nearly $17 million short.

Shares have dropped 12.4% as of 4:00 p.m. EST, trading at $25.18.

The company released guidance for its fiscal year 2016, expecting revenue between $161 and $165 million and EPS between $1.17 and $1.21. For the next quarter, Vascular Solutions expects to bring in $38 to $39 million in revenue, and EPS between 22¢ and 24¢.

“Our results today mark not only the completion of another very strong quarter, but also of our 12th consecutive year of double-digit percentage growth in product sales. As we enter 2016, we expect to sustain our double-digit growth rate with a full pipeline of clinically-significant products designed to meet unique needs that are not typically addressed by other companies in our vascular markets. And while we remain focused on our multiple clinical niche new product launches, we also are pleased with the rapid progress of our RePlas freeze-dried plasma collaboration with the U.S. Army. Our strong cash flow and balance sheet allow us to fully fund all of our R&D initiatives and take advantage of any opportunities for distribution agreements and tuck-in acquisitions that we view as synergistic,” CEO Howard Root said in a press release.

The post Vascular Solutions droops on Q4, FY2015 earnings appeared first on MassDevice.

from MassDevice http://ift.tt/23kbj6H