UPDATE 1-Abiomed Q3 beats Street, raises FY rev outlook

Thu Feb 3, 2011 10:31am EST

* Q3 net loss $0.02/shr vs est loss $0.09/shr

* Revenue up 19 pct at $27.2 mln

* Raises FY rev view to $99-$101 mln

* Shares jump 24 pct, touch two-year high

Feb 3 (Reuters) - Heart device maker Abiomed Inc (ABMD.O) posted quarterly results that breezed past market estimates, driven by strong revenue from its heart pump, Impella, and the company raised its full-year revenue forecast.

Shares of the company jumped 24 percent to $12.59, their highest in two years, Thursday morning on Nasdaq.

For the October-December quarter, the company posted a net loss of $0.8 million, or 2 cents a share, compared with a net loss of $4.6 million, or 12 cents a share, a year ago.

Revenue rose 19 percent to $27.2 million.

Analysts on average were expecting a loss of 9 cents a share on revenue of $24.3 million, according to Thomson Reuters I/B/E/S.

Danvers, Massachusetts-based Abiomed said Impella revenue grew by a third to $21.1 million in the quarter.

The company raised its full-year revenue forecast to $99-$101 million from its prior view of $93-$97 million.

Abiomed shares have lost about 17 percent of their value since the company ended a mid-stage study of Impella following the recommendation of the Data Safety Monitoring Board in December. [ID:nSGE6B50MV] (Reporting by Rajarshi Basu in Bangalore; Editing by Anne Pallivathuckal)

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