Volcano Corp. (NSDQ:VOLC) posted $71 million in sales during the fourth quarter, a 45 percent increase from the $49 million it posted during the same period last year.
However, the San Diego-based maker of intravascular therapy devices slipped into the red during the three months ended Dec. 31, 2009, posting a net loss of $12 million, compared to a $1.3 million profit for the same period in 2008.
Officials blamed the quarterly loss on $14 million worth of “in-process” R&D charges it assumed when the company acquired CardioSpectra Inc. and Novelis Inc., according to its earnings release.
For the full year, the company’s net losses widened to $28 million on $136 million in sales, compared to a $13 million loss on $107 million in sales for the same period last year.