Revenue growth in both neurovascular and peripheral vascular products drove Penumbra Inc. to beat analyst expectations in the first quarter. The Alameda, Calif.-based company reported total revenue of $57.9 million in the quarter (up 48.7 percent, or 51.0 percent on a constant currency basis), exceeding consensus of $53.1 million. Penumbra said revenue from sales of neuro products grew 30.4 percent (or 32.8 percent on a constant currency basis) to $41.3 million and peripheral vascular product sales grew 127.9 percent (or 130.0 percent on a constant currency basis) to $16.6 million in the first quarter. Read More
