The Spectranetics Corporation (NASDAQ:SPNC) Up 12% Post Earnings Call


Dallas, Texas 10/31/2013 (Financialstrend) – The Spectranetics Corporation (NASDAQ:SPNC) is a medical equipment and appliances manufacturer with a market cap of $810 million. On October 24, the firm reported earnings for its third quarter operations. It reported earnings per share of $0.01 which was in line with what analyst were predicting. It brought in revenue of $39.8 million which was $0.83 million more than what analyst were predicting. The revenue was up 10% in comparison to 3Q of FY13.

The call out performance for the corporation was posted by the laser division. The CEO pointed out that their lacer placement division had managed to win 40 new customers. In comparison the firm had managed to place only 30 laser equipment in 3Q12. The company also recorded that their install base has gone up to 1,100 units across the globe. The medical equipment manufacturer’s second most important revenue contribution came from its vascular intervention division. It contributed $19 million in the just concluded quarter. This was a 12% increase in comparison to its 3Q12 revenue. The third division called the the “Lead Management business” posted revenue of $16.1 million which translated into a 15% increase over 3Q12. The last but not the least productive division revenue wise was its international operations. It posted $7.2 million which equated to a 26% increase over 3Q form previous year. Europe and Japan were the most productive international markets for the equipment maker in the quarter.

Post the call, the stock has managed to post 12.5% increase in the past one week of trading. It has posted a 24.4% increase in the past 30 days. In the past one year the sales have firmed up at $149 million and income gap has reduced to net loss of $0.1 million. Investors in stock would be hoping that the stock will continue to appreciate over the near term.