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Abiomed profit beats estimates on Impella sales
August 2, 2012 / 11:55 AM / 5 years ago

Abiomed profit beats estimates on Impella sales

* Q1 EPS $0.08 vs est $0.03

* Q1 rev $38.8 mln vs est $37.0 mln

* Impella worldwide rev up 56 pct

* Raises FY rev outlook to $155-157 mln

Aug 2 (Reuters) - Medical device maker Abiomed Inc’s quarterly profit beat analysts’ expectations on higher sales of its heart pump Impella, and the company raised the low end of its full-year revenue forecast.

Worldwide revenue for Impella -- which is used to improve blood flow in heart-failure patients -- rose 56 percent to $34.7 million in the first quarter.

Abiomed now expects full-year revenue of between $155 million and $157 million as it expects worldwide Impella revenue to grow greater than 30 percent.

The company had earlier forecast full-year revenue of between $152 million and $157 million.

The company posted a first-quarter profit of $3.1 million, or 8 cents per share, compared with a loss of $4.6 million, or 12 cents per share, a year earlier.

Revenue rose 42 percent to $38.8 million.

Excluding items, it earned 16 cents per share.

Analysts on average had expected a profit of 3 cents per share, on revenue of $37 million, according to Thomson Reuters I/B/E/S.

Danvers, Massachusetts-based Abiomed’s shares closed at $22.97 on Wednesday on the Nasdaq.

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