Vascular Solutions shares soar, raises guidance on Q2 earnings release

Vascular Solutions (NSDQ:VASC) saw shares soar after releasing 2nd quarter earnings that beat the Street and significantly grew from last year.

The Minneapolis, Minn.-based company reported profits of $5.4 million, or 31¢ per share, on sales of $5.4 million for the 3 months ended June 30. That amounts to a massive 45% bottom-line gain as sales grew 9.7% compared with teh same period last year.

Adjusted to exclude 1-time items, earnings per share were 33¢. Analysts on Wall Street were looking for adjusted EPS of 31¢ and revenue of $41.2 million, which the company handily met.

Shares in Vascular Solutions are up 8.7% to trade at $45.68 as of 10:36 a.m. EDT.

“We are pleased to report another very strong quarter of revenue and earnings growth. We are excited about the steady performance of our business and the continued progress with our pipeline, especially our top-priority long-term development program for RePlas freeze-dried plasma in collaboration with the United States Army.  Despite the tough quarterly comparison for our top-selling product GuideLiner in Japan due to our distributor’s inventory stocking in 2015, we still generated double-digit revenue growth in the quarter and remain on track to deliver our 13thconsecutive year of better than 10% revenue growth.  With the distractions and expenses of the Short Kit litigation completely behind us, we have now resumed our growth in operating leverage that is built into our business model, and we are filling out our product pipeline to sustain our long term growth,” CEO Howard Root said in a press release.

The company adjusted its guidance up for 2016, expecting to see net revenue of between $164 and $166 million, up slightly from $163 to $166 million. Vascular Solutions also raised its adjusted earnings per share guidance for the year, lifting it from between $1.19 and $1.23 to between $1.22 and $1.26.

For the 3rd quarter Vascular Solutions set its guidance for revenue to between $41 and $42 million and earnings per share between 29¢ and 31¢ per share.

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