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Volcano shares dive on lowered guidance

Mon, 02/25/2013 - 4:00am
Mass Device

Wall Street pounds shares of Volcano Corp. after the medical device company lowers its 2013 guidance following its 4th quarter earnings release.

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Shares of Volcano (NSDQ:VOLC) were down nearly 10% on Wall Street in late-day trading Friday, after the medical device company revised its sales and earnings guidance downwards, a day after a tough 4th-quarter earnings release.

The San Diego, Calif.-based firm said it expects to turn 8¢-11¢ earnings per share on $406 million-$412 million in sales, far below the 29¢ EPS on $423.5 million analysts were projecting based on Volcano's Q4 earnings release.

Volcano did not give any reason reason for the revision in a regulatory filing.

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