Abiomed Inc. (NASDAQ:ABMD) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 6.68%.
Abiomed Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 50% to $0.09 in the quarter versus EPS of $0.06 in the year-earlier quarter.
Revenue: Rose 17.03% to $43.7 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Abiomed Inc. reported adjusted EPS income of $0.09 per share. By that measure, the company beat the mean analyst estimate of $0.07. It beat the average revenue estimate of $41.95 million.
Quoting Management: “We are proud to report another record quarter and record fiscal year in both number of patients supported and total revenue,” said Michael R. Minogue, Chairman, President and Chief Executive Officer of Abiomed. “Our company has transformed into a resilient commercial organization, that is profitable, debt free and expanding the number of exclusive regulatory approvals, breakthrough innovative products and geographical reach.”
Key Stats (on next page)…
Revenue increased 14.25% from $38.25 million in the previous quarter. EPS increased 28.57% from $0.07 in the previous quarter.
Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $0.07 to a profit $0.08. For the current year, the average estimate has moved up from a profit of $0.34 to a profit of $0.35 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)