UPDATE 1-Spectranetics posts wider Q4 loss

* Q4 loss/shr $0.17 vs yr-ago loss $0.03/shr

* Revenue rises 11 pct to $29.7 mln

Feb 18 (BestGrowthStock) – Medical device maker Spectranetics Corp
(SPNC.O: ) posted a wider quarterly loss, hurt by costs
associated with a federal settlement.

In December, the company agreed to pay $4.9 million in
civil damages plus a $100,000 forfeiture to resolve claims that
it sold unapproved medical devices and other allegations.

For the fourth quarter, the company reported a loss of $5.7
million, or 17 cents a share, compared with a loss of $1.1
million, or 3 cents, a year ago.

Revenue rose 11 percent to $29.7 million, helped partly by
higher revenue from its vascular intervention and lead
management segments.

Analysts on average expected a loss of 2 cents a share,
excluding special items, on revenue of $29.6 million, according
to Thomson Reuters I/B/E/S.

The company, which makes medical lasers, lead wires and
other peripheral devices, expects vascular intervention revenue
growth rate to be in the low- to mid-single digits during 2010,
compared with 2009.

Spectranetics expects lead management revenue growth rate
to be in the mid-teens in 2010 as compared with 2009.

Shares of the company closed at $6.94 Wednesday on Nasdaq.

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(Reporting by Anand Basu in Bangalore; Editing by Maju

UPDATE 1-Spectranetics posts wider Q4 loss