Wedbush Comments On "Solid" VASC Quarter
April 20, 2011 8:00 AM
Wedbush is commenting on Vascular Solutions Inc.'s (NASDAQ: VASC) Q1, which it is calling a “solid quarter.”
“Vascular Solutions reported Q1 results that were right on target with expectations,” Wedbush writes. “At a time when most of the medical device industry is experiencing a major downturn in top-line growth and pressure on operating leverage, VASC's performance once again stands out for strong growth and ongoing improvements in operating margins.
“Sales grew 17%, to $21.3 million, which was slightly better than our projected $21.0 million and the Street's $21.14 million. EPS of $0.10 marked a solid improvement from the $0.08 in the year-ago quarter and was $0.01 better than our estimate and in line with the Street.”
Vascular Solutions closed Tuesday at $11.30.
