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Stock Market & Financial Investment News

News Breaks
March 15, 2013
16:32 EDTVASCVascular Solutions issues recall of Guardian II, Guardian II NC valves
On February 28, Vascular Solutions Zerusa, a subsidiary of Vascular Solutions (VASC), initiated a nationwide recall of Guardian II and Guardian II NC hemostasis valves used in catheterization procedures. Specific lots of the products have been recalled because they pose a slightly increased risk of air leakage that may lead to an air embolism, which could result in serious injury or death. No injuries have been reported in association with this issue. The U.S. Food and Drug Administration classified this as a Class I recall. FDA defines Class I recalls as "a situation in which there is a reasonable probability that the use of or exposure to the violative product will cause serious adverse health consequences or death."
News For VASC From The Last 14 Days
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July 28, 2014
17:07 EDTVASCVascular Solutions says terms of settlement were reached in January
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15:32 EDTVASCVascular Solutions to pay $520K to resolve false claims charges
Vascular Solutions has agreed to pay $520,000 to resolve allegations that it caused false claims to be submitted to federal health programs by marketing a medical device for the ablation of perforator veins without FDA approval and despite the failure of its own clinical trial, the Justice Department announced. The allegations resolved by the settlement were raised in a lawsuit filed against VSI by DeSalle Bui, a former sales representative at VSI, under the qui tam, or whistleblower, provisions of the False Claims Act, which allow private citizens with knowledge of false claims to bring civil actions on behalf of the government and to share in any recovery.
July 22, 2014
16:20 EDTVASCVascular Solutions sees Q3 GAAP EPS 19c-20c, consensus 18c
Sees Q3 revenue $30.5M-$31.5M, consensus $31.05M. Q3 revenue view represents growth of approximately 11% from $28.0M in the Q3 of FY13. The company's net earnings guidance for the Q3 includes $800,000 in non-cash stock-based compensation, $400,000 in amortization of intangibles, $370,000 for the U.S. medical device excise tax, and an assumed 36% effective income tax rate.
16:18 EDTVASCVascular Solutions raises FY14 GAAP EPS view to73c-77c from 71c-75c
Vascular Solutions is raising the bottom-end of its net revenue guidance for FY14 to $123M, resulting in a new range of $123M- $125M. The mid-point of the new range represents an increase of 12% from $110.5M in 2013. Previously, the company's revenue guidance range for 2014 was $121M-$125M. Consensus is for FY14 revenue $123.22M. Vascular Solutions is also raising its GAAP earnings guidance for 2014 to a range of $0.73-$0.77 per share, representing an increase of 12%-18% over the $0.65 reported in 2013. The company's previous EPS guidance range for 2014 was $0.71-$0.75. Included in the company's 2014 earnings guidance are $3.8M in non-cash stock-based compensation, $1.6M in amortization of intangibles, between $1.4M-$1.5M for the U.S. medical device excise tax, and an assumed 36% tax rate. Consensus is for FY14 EPS 72c.
16:14 EDTVASCVascular Solutions reports Q2 adj. EPS 20c, consensus 18c
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