February 3, 2009 / 10:32 PM / 10 years ago

UPDATE 1-Vascular Solutions sees Q1 profit below view, shrs fall

* Q4 EPS $0.90 vs $0.03 last year

* Q4 results include tax benefit

* Revenue rises 14 pct to $16.4 million

* Sees Q1 EPS $0.05 to $0.07; below Street view

* Shares fall 9 pct

Feb 3 (Reuters) - Vascular Solutions Inc VASC.O posted a higher fourth-quarter profit, helped by a tax benefit, but the medical device maker forecast first-quarter earnings below market estimates, sending its shares down 9 percent.

For the first quarter, the company expects to earn 5 cents to 7 cents a share, on revenue of $16.5 million to $16.8 million. Analysts on average were expecting earnings of 10 cents a share, on revenue of $16.6 million, according to Reuters Estimates. [ID:nWNAB7624]

However, Chief Executive Howard Root said: “We do not believe the current global economic situation is affecting our medical device business in any material manner.”

Vascular Solutions said it plans to increase its workforce by 10 percent at its facilities in Minnesota in 2009.

For the fourth quarter, net income was $14.7 million, including the tax benefit of $13.2 million.

Shares of the company were trading at $8.52 after the bell. They closed at $9.40 Tuesday on Nasdaq. (Reporting by Anand Basu in Bangalore; Editing by Deepak Kannan)

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