Spectranetics, a provider of single-use medical devices in minimally invasive procedures within the cardiovascular system, has posted revenues of $29.6m for the third quarter of 2010, a increase of 3%, compared to $28.8m for the third quarter of 2009.
Spectranetics posted a net loss of $12.7m, or $0.38 per share, compared to $2.5m, or $0.08 per share, in the third quarter of 2009.
For the nine months ended 30 September 2010, Spectranetics posted revenues of $88.6m, compared to $85.2m for the same period in 2009.
Net loss was $13.6m, or $0.41 per share, compared to $7.6m, or $0.24 per share, in the first nine months of 2009.
Spectranetics Sales and Marketing senior vice president Jason Hein said that their Lead Management products extended their track record of sales growth, increasing 8% compared with previous year’s record quarter.
“We have also taken important steps to improve the productivity of our Vascular Intervention sales organization, including realignment of territories with limited growth potential, and improvements to our sales compensation plans that provide greater incentives for our top-performing sales representatives,” Hein said.