VNUS Medical Technologies (NASDAQ: VNUS) is
a leading provider of medical devices for the minimally invasive treatment of peripheral vascular disease. VNUS sells the Closure system, which consists of a radiofrequency (RF) generator and disposable endovenous catheters to treat diseased veins through the application of temperature-controlled RF energy. Treatments are usually conducted on an outpatient basis. The systems are used by interventional radiologists, general and vascular surgeons, and phlebologists in the U.S. and Western Europe.
The company surprised the Street last week, with Q4 EPS of five cents and revenues of $20.6 million. Analysts had been expecting a loss of nine cents and $18.4 million. The CEO attributed success to growth in international sales and better manufacturing efficiencies. Management also guided Q1 EPS to the range between a loss of seven cents and a gain of three cents (loss of nine cent consensus), Q1 revenues to $18.2-$19.2 million ($18.17M consensus), FY08 EPS to 19-24 cents (five cent consensus) and FY08 revenues to $82-$86 million ($77.60M consensus).
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