Shares of Endologix Inc., an Irvine medical device maker, soared Tuesday after the company said it expected its 2008 revenue to rise 35%.
Endologix shares closed up 33% with a market value of $70 million in trading Tuesday.
Endologix makes devices for treating ballooning blood vessels.
Endologix said Tuesday that it expected its 2008 revenue to be $37.6 million, up 35% from the $27.8 million posted in 2007.
In a statement, Endologix said the hike was coming from introducing new products, successful sales force initiatives and more doctors using its Powerlink system for treating aortic abdominal aneurysms.
The company also said it expects to post $44 million to $46 million in revenue in 2009, up 17% to 22% compared with expected 2008 sales.
Endologix didn’t provide profit guidance. Analysts expect the device maker to post a loss of $13 million on sales of $37 million in 2008 and a loss of $6.5 million on sales of about $46 million in 2009.
