A 20% increase in intravascular ultrasound revenue helped Volcano post gains in 2008.
The San Diego-based company reported revenue growth of 31% last year to $171.5 million, compared with $130.6 million in 2007. The company also reduced its net loss to $13.7 million, compared with a net loss of $26.6 million in 2007.
Fourth-quarter revenue climbed to $49.3 million, compared with $40 million in the fourth quarter of 2007.
Excluding stock-based compensation expenses of $2.5 million and in-process research and development charges of $274,000, Volcano reported fourth-quarter net income of $4.2 million, compared with $4.4 million in the same quarter a year ago. Fourth-quarter 2007 net income excludes stock-based compensation expenses of $2 million and in-process research and development charges of $26.2 million.
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