This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:Vascular Solutions Announces Third Quarter Results; Net Revenue Increases 11% to Record $17.2 Million; Net Income of $0.09 Per Share 2009-10-20 16:05 ET - News Release MINNEAPOLIS, Oct. 20, 2009 (GLOBE NEWSWIRE) -- Vascular Solutions, Inc. (Nasdaq:VASC) today reported financial results for the third quarter ended September 30, 2009. Highlights of the third quarter and other recent events include:
* Achieved record net revenue of $17.2 million, an increase
of 11% from the third quarter of 2008.
* Achieved net income of $1,431,000, or $0.09 per diluted share.
* Achieved positive cash flow of $3.5 million.
* Increased operating margin to 13% of net revenue.
* Launched the new Piggyback(TM) wire converter in the U.S. and the
new GuideLiner(TM) catheter in Europe, with four additional new
products including the Guardian(R) II hemostasis valve expected
to be launched in the U.S. during the remainder of 2009.
Commenting on the results, Vascular Solutions' Chief Executive Officer Howard Root said: "Once again, in the third quarter Vascular Solutions demonstrated double digit percentage sales growth and rapid new product innovation, while at the same time adding substantially to our net income and positive cash flow. As we conclude 2009, we are well on our way to our sixth consecutive year of double digit percentage sales growth, and we have clearly demonstrated the success of our business model in driving increased earnings from every incremental sale."
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