Volcano Corp. continues to post losses in its quarterly earnings, though it showed incremental revenue growth for the quarter ended March 31, 2014.
First quarter revenue for Volcano Corp. rose to $94.5 million, compared with $93.2 million in the like reporting period of 2013.
It reported a net loss of $10.9 million in the first quarter of 2014, versus a net loss of $3.2 million a year previous. Similarly, in the fourth quarter of 2013, Volcano posted a net loss of $20.5 million, versus net income of $2.5 million in the fourth quarter of 2012.
Indeed, the last two quarters have “had negative earnings surprises,” the Nasdaq said.
However, CEO Scott Huennekens said Volcano “is off to a good start in 2014” with growth of its core businesses, the roll out of new products and an expanded and realigned sales force. He said this will help drive growth through the remainder of 2014 and into 2015.
Volcano (Nasdaq: VOLC) develops a broad suite of medical devices but focuses on cardiovascular care.