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