Vascular Solutions Reports Q4 EPS of $.12 vs. $.12
February 01, 2011 5:10 PM
Vascular Solutions, Inc. (Nasdaq: VASC) today reported financial results for the fourth quarter and year ended December 31, 2010. Net revenue for the fourth quarter was $20.9 million, an increase of 15% from the fourth quarter of 2009, and a sequential increase of 5% from the third quarter of 2010.
Operating income for the fourth quarter was $3.4 million, a 54% increase over the fourth quarter of 2009. Net income of $15.0 million ($0.87 per diluted share) in the fourth quarter included $12.9 million ($0.75 per diluted share) of income tax benefit primarily resulting from the recognition of net operating loss carryforwards as a deferred tax asset.
Not including the income tax benefit, earnings per share increased 30% to $0.12 per diluted share in the fourth quarter of 2010 from the fourth quarter of 2009. Both net revenue and net income for the fourth quarter were within guidance previously provided by the company.
