Spectranetics Corp.’s (NSDQ:SPNC) second-quarter earnings weren’t high enough to push its earnings-per-share passed a single cent, but the company beat its 2009 Q2 results by more than $1 million.
The Colorado Springs, Colo.-based company reported net earnings of $91,000 on revenue of $30.0 million during the three months ended June 30. That compares with net losses of $2.3 million, or 7 cents per diluted share, on sales of $29.0 million during the same period last year.
It’s good news for Spectranetics, which has been dogged by a federal case accusing the company of illegally importing unapproved medical lasers for use in patients during a clinical trial for the last two years.
The company reported that its laser equipment revenue declined 19 percent to $1.6 million, vascular intervention revenue rose only slightly to $16.1 million, while lead management revenue increased 14 percent to $10.0 million and service and other revenue rose 2 percent to $2.3 million compared with Q2 2009.