April 30, 2020 / 12:15 PM / in a month

BRIEF-Abiomed Announces Q4 FY 2020 Revenue Of $207 Million And 28.1% Operating Margin

April 30 (Reuters) - ABIOMED Inc:

* ABIOMED ANNOUNCES Q4 FY 2020 REVENUE OF $207 MILLION AND 28.1% OPERATING MARGIN

* Q4 GAAP EARNINGS PER SHARE $0.70

* Q4 REVENUE $207 MILLION VERSUS REFINITIV IBES ESTIMATE OF $207.2 MILLION

* Q4 EARNINGS PER SHARE ESTIMATE $0.94 — REFINITIV IBES DATA

* WILL NOT BE PROVIDING FULL YEAR 2021 REVENUE OR OPERATING MARGIN GUIDANCE AT THIS TIME

* WILL ANALYZE AND MONITOR THIS DYNAMIC ENVIRONMENT AND WILL PROVIDE AN UPDATE ON GUIDANCE WHEN APPROPRIATE

* COMPANY IS TAKING PROACTIVE ACTIONS TO MITIGATE BUSINESS IMPACT OF COVID-19 TO BETTER MATCH EXPENSES TO REVENUE IN Q1

* HOLD ON HIRING, ELIMINATING NON-CRITICAL CONSULTANTS, CONTRACTORS, AND TEMPORARY WORKERS

* REDUCING DISCRETIONARY SPENDING AND IMPLEMENTING ALTERNATE WORK SCHEDULES FOR AACHEN AND DANVERS PRODUCTION TEAMS

* CEO AND COO HAVE REDUCED THEIR SALARIES BY 100%, VPS AND DIRECTORS HAVE REDUCED THEIR SALARIES BY 50% AND 20% RESPECTIVELY FOR Q1

* BOARD OF DIRECTORS HAVE ALSO REDUCED THEIR CASH RETAINERS BY 50% FOR Q1

* NON-DIRECTOR EMPLOYEES AT MASSACHUSETTS AND GERMAN HEADQUARTERS WILL BE TAKING A MINIMUM OF ONE-WEEK FURLOUGH OR UNUSED VACATION

* FIELD TEAM WILL WORK ON MONTHLY OPERATING PLANS TO ALLOW FOR FLEXIBILITY AND POTENTIAL TO INCREASE SEQUENTIALLY EACH WEEK Source text for Eikon: Further company coverage:

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