COLORADO SPRINGS, CO (PRWEB) April 02, 2013
The Spectranetics Corporation (NASDAQ: SPNC), a leading maker of medical devices used to treat arterial blockages in the heart and legs as well as to remove pacemaker and defibrillator leads, has once again been named to Forbes list of "America's 100 Most Trustworthy Companies." America's 100 Most Trustworthy Companies - Forbes
The annual list recognizes publicly-traded U.S. companies that demonstrate superior transparency and integrity across more than 60 governance and forensic accounting measures.
For the sixth year, the list was compiled by GMIRATINGS (GMI) that looks beyond a company's income statement and balance sheet to assess the quality of its corporate management and accounting practices. The report analyzes over 8,000 companies traded on U.S. exchanges, ranking them from 0 (very aggressive) to 100 (conservative). Spectranetics earned a 90 Accounting and Governance Risk Score (AGR) as of the March 7, 2013, report date and 94 for the four-quarter period.
"For Spectranetics to again be included on this list of America's most trustworthy companies is truly gratifying," said Guy Childs, CFO. "We are committed to conducting our business with compliance, integrity and sound business practices that support safe clinical outcomes for patients and create value for our shareholders. We are proud to be recognized for the principles that guide our organization's activities on a daily basis."
To qualify for the roster, the 100 companies had to rank high in GMI’s Equity Risk Ranking, which indicates a positive forecast for equity returns, and have minimal likelihood of financial distress as measured by GMI’s Bankruptcy Risk model.
AGR uses governance and forensic accounting measures that are rarely incorporated in traditional analysis. These extra financial measures are, in GMI's view, an important factor in trying to understand value. A GMI spokesman said that the cost of capital for the most trustworthy companies is lower because their level of transparency is recognized in the marketplace. In addition, evidence points to the most trustworthy companies, on balance, outperforming their peers over the long haul.
Spectranetics develops, manufactures, markets and distributes single-use medical devices used in minimally invasive procedures within the cardiovascular system. The Company’s products are sold in more than 40 countries and are used to treat arterial blockages in the heart and legs, as well as the removal of pacemaker and defibrillator leads.
The Company’s Vascular Intervention (VI) products include a range of peripheral and cardiac laser catheters for ablation of occluded arteries above and below the knee and within coronary arteries. The Company also markets aspiration and thrombectomy catheters for the removal of thrombus and support catheters to facilitate crossing of coronary and peripheral arterial blockages.
The Lead Management (LM) product line includes excimer laser sheaths and cardiac lead management accessories for the removal of pacemaker and defibrillator cardiac leads.
For more information, visit http://www.spectranetics.com.
Safe Harbor Statement
This news release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934 (the Exchange Act), as amended, and the Private Securities Litigation Reform Act of 1995, and is subject to the safe harbor created by that section. Forward-looking statements contained in this release constitute our expectations or forecasts of future events as of the date this release was issued and are not statements of historical fact. You can identify these statements by the fact that they do not relate strictly to historical or current facts. Such statements may include words such as “anticipate,” “will,” “estimate,” “expect,” “project,” “intend,” “should,” “plan,” “believe,” “hope,” “enable,” “potential,” and other words and terms of similar meaning in connection with any discussion of, among other things, clinical trials, future operating or financial performance, strategic initiatives and business strategies, regulatory or competitive environments, our intellectual property and product development. You are cautioned not to place undue reliance on these forward-looking statements and to note that they speak only as of the date hereof. Factors that could cause actual results to differ materially from those set forth in the forward-looking statements are set forth in the risk factors listed from time to time in our filings with the SEC. Readers are encouraged to review Item 1A. - Risk Factors and all other disclosures appearing in the Spectranetics Form 10-K for the year ended December 31, 2012 filed with the Securities and Exchange Commission, for further information on risks and uncertainties that could affect Spectranetics’ business, financial condition and results of operation. We disclaim any intention or obligation to update or revise any financial projections or forward-looking statements due to new information or other events.
Source: The Spectranetics Corporation