MINNEAPOLIS, Jan. 21, 2016 (GLOBE NEWSWIRE) -- Vascular Solutions, Inc. (Nasdaq:VASC) today reported financial results for the fourth quarter and full year ended December 31, 2015.
Worldwide revenue increased 13% from the fourth quarter of 2014 to $38.1 million, which exceeded the top end of the company’s revenue guidance range of $37.0 million to $38.0 million. U.S. revenue increased 15% to $30.8 million, while international revenue increased 8% to $7.3 million.
“Our results today mark not only the completion of another very strong quarter, but also of our 12th consecutive year of double-digit percentage growth in product sales,” said Chief Executive Officer Howard Root. “As we enter 2016, we expect to sustain our double-digit growth rate with a full pipeline of clinically-significant products designed to meet unique needs that are not typically addressed by other companies in our vascular markets. And while we remain focused on our multiple clinical niche new product launches, we also are pleased with the rapid progress of our RePlas™ freeze-dried plasma collaboration with the U.S. Army. Our strong cash flow and balance sheet allow us to fully fund all of our R&D initiatives and take advantage of any opportunities for distribution agreements and tuck-in acquisitions that we view as synergistic.”
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Worldwide revenue increased 13% from the fourth quarter of 2014 to $38.1 million, which exceeded the top end of the company’s revenue guidance range of $37.0 million to $38.0 million. U.S. revenue increased 15% to $30.8 million, while international revenue increased 8% to $7.3 million.
“Our results today mark not only the completion of another very strong quarter, but also of our 12th consecutive year of double-digit percentage growth in product sales,” said Chief Executive Officer Howard Root. “As we enter 2016, we expect to sustain our double-digit growth rate with a full pipeline of clinically-significant products designed to meet unique needs that are not typically addressed by other companies in our vascular markets. And while we remain focused on our multiple clinical niche new product launches, we also are pleased with the rapid progress of our RePlas™ freeze-dried plasma collaboration with the U.S. Army. Our strong cash flow and balance sheet allow us to fully fund all of our R&D initiatives and take advantage of any opportunities for distribution agreements and tuck-in acquisitions that we view as synergistic.”
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