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Volcano Corp Lowers FY 2013 Revenue Guidance; Comments On FY 2014 Revenue Guidance

Monday, 28 Oct 2013 04:05pm EDT 

Volcano Corp provided updated revenue guidance for fiscal 2013, indicating that it expects revenues on a reported basis for the full year will be in the range of $391.0-$395.0 million. This compares with revenues on a reported basis of $381.9 million in 2012. FX exchange rates are expected to have a negative impact of approximately $20.0 million versus 2012. The Company indicated its revenue expectations factor in revised growth rates for its FFR business in Japan and the shift of approximately $1.5 million in ophthalmology revenues at Axsun Medical from the second half of 2013 to 2014. The Company also provided preliminary revenue guidance for fiscal 2014, indicating it expects revenues will increase year-over-year in the range of 9% to 11% on a reported basis and 8% to 10% on a constant currency basis. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $399 million for fiscal 2013 and revenue of $442 million for fiscal 2014. 

Company Quote

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