Abiomed nearly triples fiscal Q2 profits, crushes earnings expectations

Abiomed (NSDQ:ABMD) today said that its fiscal second-quarter profits nearly tripled and crushed the consensus earnings forecast on a nearly 30% sales increase. The Danvers, Mass.-based percutaneous heart pump maker posted profits of $24.5 million, or 54¢ per share, on sales of $132.8 million for the three months ended Sept. 30, for a bottom-line gain if 176.1% on sales growth of 29.0% compared with fiscal Q2 2017. Analysts on Wall Street were looking for EPS of 38¢ on sales of $131.1 million. “This quarter, we set new records for supporting patients in the U.S. and Germany and we continue to observe improved clinical outcomes with our education and training initiatives,” chairman, president & CEO Michael Minogue said in prepared remarks. “I am proud of the team’s ability to consistently adapt and execute as we transform the standard of care and build the field of heart recovery.” Abiomed raised the low end of its sales guidance to $565 million to $575 million, up from prior guidance of $555 million to $575 million. In a separate release, the company said the first Japanese acute heart failure patient was treated with its Impella 5.0 pump after winning approval there in September 2016. “Treating the first Japanese Impella patient marks a significant milestone for our company,” Minogue said. “We are pleased to launch the field of heart recovery in Japan and we commend the dedication of Japanese physicians and the regulator...
Source: Mass Device - Category: Medical Devices Authors: Tags: Cardiac Assist Devices MassDevice Earnings Roundup Wall Street Beat Abiomed Source Type: news