Exhibit 99.1
VOLCANO REPORTS 35 PERCENT INCREASE IN QUARTERLY REVENUES; IVUS DISPOSABLE REVENUES INCREASE 46 PERCENT
     (SAN DIEGO, CA), February 12, 2008—Volcano Corporation (NASDAQ: VOLC), a leading provider of intravascular ultrasound (IVUS) and functional measurement (FM) products designed to enhance the diagnosis and treatment of coronary and peripheral vascular disease, today reported results for the fourth quarter and full year 2007.
     For the quarter ended December 31, 2007, Volcano reported revenues of $40.0 million, a record quarter for the company, and a 35 percent increase over revenues of $29.5 million in the same period a year ago. Revenues for all of 2007 were $130.6 million, a 27 percent increase over revenues of $103.0 million in fiscal 2006.
     For the fourth quarter of 2007, the company reported a net loss on a GAAP basis of $23.7 million, or $0.53 per share. Included in these results is a $26.2 million charge related to in-process research and development incurred with the company’s acquisition of CardioSpectra, Inc., which occurred in December 2007. Excluding this charge, the company would have had net income of $2.4 million, or $0.05 per diluted share. Volcano reported net income on a GAAP basis of $1.4 million, or $0.04 per diluted share, in the fourth quarter of 2006.
     Excluding the one-time charge related to the CardioSpectra acquisition and stock-based compensation expense of $2.0 million, the company reported net income of $4.4 million, or $0.09 per diluted share, in the fourth quarter of 2007. Excluding stock-based compensation expense of $901,000, the company reported net income of $2.3 million, or $0.06 per diluted share, in the fourth quarter of 2006, or an increase of 90 percent.
     Weighted average diluted shares in the quarter were 47.8 million versus 38.2 million a year ago, reflecting the impact of the company’s public offering of common stock that was completed in October 2007. The company ended 2007 with $189.1 million in cash, cash equivalents and short-term available-for-sale investments. This compares with $95.5 million at the end of 2006. The difference between the two periods reflects the net proceeds of $122.8 million from the company’s stock offering in October 2007, and the $25.2 million cash payment related to the CardioSpectra acquisition in December 2007.
     “Volcano has continued to demonstrate very strong revenue growth throughout 2007, driven by our growing installed base of IVUS consoles and increased IVUS disposable revenues. Total IVUS console placements in 2007 were 597, an increase of 48 percent versus 404 IVUS console placements in 2006. IVUS disposable revenues in the quarter increased 46 percent versus the same quarter a year ago, including a 28 percent increase in the U.S.,” noted Scott Huennekens, president and chief executive officer of Volcano.
     “This growth in our IVUS business occurred despite a sluggish global PCI market. We believe the ease of use and integration provided by our s5 family of consoles, along with a growing volume of data demonstrating the value of IVUS in stenting procedures, is driving our increased market presence in the IVUS arena,” he added. “We are encouraged by what appear to be recent favorable trends in stenting procedures and believe this will further the growth of our IVUS offerings,” he continued.
     Last week, the company announced it received 510(k) clearance and a CE Mark for its Revolution rotational IVUS catheter and functional flow reserve (FFR) technology on its s5 family of IVUS consoles, enabling the commercial launch of these offerings in the United States and Europe. The company also expects to have regulatory approval for the Rotational catheter on new s5 consoles in Japan by the second quarter. The company has also recently announced three new partnership agreements. The first is with Cordis Europe that will enable Cordis to offer their customers Volcano IVUS for use in Cypher drug-eluting stent procedures. The second was a marketing agreement with Siemens in Japan under which Siemens will begin selling their Artis and angio systems with the s5i IVUS console. In addition, the company announced a collaboration with General Electric in Japan that will enable GE to offer its INNOVA angiographic systems with Volcano’s s5i integrated IVUS technology.

1


The following information was filed by Volcano Corp (VOLC) on Tuesday, February 12, 2008 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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