Volcano Corporation designs, develops, manufactures, and commercializes a broad suite of intravascular ultrasound, or IVUS, and functional measurement, or FM, products that it believes enhance the diagnosis and treatment of vascular and structural heart disease. The IVUS products consist of consoles, single-procedure disposable catheters, and advanced functionality options. The family of consoles includes the IVUS In-Vision Gold or IVG and the new PC-based s5, which became the primary console following its full commercial launch in mid-2006. During an IVUS procedure, an imaging catheter is placed inside an artery to produce a cross-sectional image of the size and shape of the artery's lumen and provides information concerning the composition and density of plaque or lesions and the condition of the layers of the surrounding arterial walls. As a part of the vfusion cath lab integration initiative, the company has developed customized cath lab versions of these consoles and is developing advanced functionality options. FM products consist of pressure and flow consoles and single-procedure disposable pressure and flow guide wires. These FM consoles also include a cath lab version. FM devices measure the pressure and flow characteristics of blood around plaque thereby allowing physicians to gauge the plaque s impact on blood flow and pressure. Based on product, IVUS consoles, FM consoles, disposable catheters, disposable guide wires, and other contributed 21%, 2%, 64%, 10%, and 3%, respectively, to 2006 revenue. Other revenue consist primarily of spare parts sales, service and maintenance revenues, shipping and handling revenues, and license fees. Based on geography, the U.S. and Japan contributed 50% and 29% respectively while Europe, Middle East, & Africa and rest of world contributed 17% and 4% respectively to total 2006 revenue. The company completed its initial public offering of common stock on June 15, 2006.
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