Abiomed Announces Preliminary Q3 FY 2017 Revenue of $114.7 Million, Up 34% Over Prior Year
January 09 2017 - 4:01PM
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 OUTLOOKThe
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
DETAILSThe Company will release full quarterly results for
the third quarter of fiscal 2017 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
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