Abiomed Announces Preliminary Q3 FY 2017 Revenue of $114.7 Million, Up 34% Over Prior Year
January 09 2017 - 3:01PM
Largest Quarterly Sequential
Revenue Increase in Company History
DANVERS, Mass. and SAN FRANCISCO,
Jan. 09, 2017 (GLOBE NEWSWIRE) -- Abiomed,
Inc. (NASDAQ:ABMD), a leading provider of breakthrough heart
support technologies today reported preliminary, unaudited, third
quarter fiscal 2017 revenue of approximately $114.7 million, an
increase of 34% compared to revenue of $85.8 million for the same
period of fiscal 2016.
- Preliminary unaudited U.S. revenue
from Impella® products grew 34% to approximately $100.3 million
from $75.0 million in the prior fiscal year.
- For the third quarter of fiscal
2017, U.S. patient usage grew 32% in comparison with same period of
fiscal 2016. Protected PCI patient usage grew 34% and emergent
patient usage grew 36%, year-over-year.
The preliminary unaudited revenue
results described in this press release are estimates only and are
subject to revision until the Company reports its full financial
results for the third quarter of fiscal 2017 on January 26,
2017.
These preliminary results are being
provided in advance of the Company's presentation at the 35th
Annual J.P. Morgan Healthcare Conference at the Westin St. Francis
Hotel in San Francisco. Michael R. Minogue, Chairman,
President and Chief Executive Officer, Abiomed, will present at
9:30 a.m. PT/12:30 p.m. ET on Wednesday, January 11, 2017.
A live webcast of the Company's
presentation at the conference will be available
via http://jpmorgan.metameetings.com/confbook/healthcare17/directlink?p=22722 as
well as on the investor section of the Company's website
at www.abiomed.com. A replay of the webcast will be available
for 90 days after the presentation.
FISCAL YEAR
2017 OUTLOOK
The Company is maintaining its fiscal year 2017 revenue guidance of
$435 million to $445 million, an increase in revenue of 32% to 35%
from the prior year. The Company is also maintaining its fiscal
year guidance for GAAP operating margin to be in the range of 18%
to 20%.
EARNINGS
CONFERENCE CALL DETAILS
The Company will release full quarterly results for the third
quarter of fiscal 2017 and update the fiscal 2017 guidance via
conference call on Thursday, January 26, 2017.
The conference call releasing full
quarterly results will be hosted by Michael R. Minogue, Chairman,
President and Chief Executive Officer and Michael Tomsicek, Vice
President and Chief Financial Officer.
To listen to the call live, please
tune into the webcast via http://investor.abiomed.com or
dial (855) 212-2361; the international number is (678)
809-1538. A replay of this conference call will be available
beginning at 11 a.m. EST January 26, 2017 through 11 a.m. EST on
January 29, 2017. The replay phone number is (855) 859-2056; the
international number is (404) 537-3406. The replay access code is
44227123.
The ABIOMED logo,
ABIOMED, Impella CP, Impella RP and Symphony are registered
trademarks of Abiomed, Inc. in the U.S.A. and certain foreign
countries. Impella 2.5, Impella 5.0, Impella LD, Impella BTR,
Impella cVAD, Impella ECP and Recovering hearts. Saving lives. are
trademarks of Abiomed, Inc.
ABOUT
ABIOMED
Based in Danvers, Massachusetts, Abiomed, Inc. is a leading
provider of medical devices that provide circulatory support. Our
products are designed to enable the heart to rest by improving
blood flow and/or performing the pumping of the heart. For
additional information, please visit: www.abiomed.com
FORWARD-LOOKING
STATEMENTS
This release contains forward-looking statements, including
statements regarding development of Abiomed's existing and new
products, the Company's progress toward commercial growth, and
future opportunities and expected regulatory approvals. The
Company's actual results may differ materially from those
anticipated in these forward-looking statements based upon a number
of factors, including uncertainties associated with development,
testing and related regulatory approvals, including the potential
for future losses, complex manufacturing, high quality
requirements, dependence on limited sources of supply, competition,
technological change, government regulation, litigation matters,
future capital needs and uncertainty of additional financing, and
other risks and challenges detailed in the Company's filings with
the Securities and Exchange Commission, including the most recently
filed Annual Report on Form 10-K and Quarterly Report on Form 10-Q.
Readers are cautioned not to place undue reliance on any
forward-looking statements, which speak only as of the date of this
release. The Company undertakes no obligation to publicly release
the results of any revisions to these forward looking statements
that may be made to reflect events or circumstances that occur
after the date of this release or to reflect the occurrence of
unanticipated events.
For further information please contact:
Ingrid Goldberg,
Director, Investor Relations
978-646-1590
ir@abiomed.com
Adrienne Smith
Senior Director, Public Relations and Corporate Communications
978-646-1553
adsmith@abiomed.com
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Abiomed via Globenewswire
ABIOMED (NASDAQ:ABMD)
Historical Stock Chart
From Apr 2024 to May 2024
ABIOMED (NASDAQ:ABMD)
Historical Stock Chart
From May 2023 to May 2024