Abiomed Announces Preliminary Q3 FY 2018 Revenue of $154 Million, Up 34% Over Prior Year
DANVERS, Mass. and SAN FRANCISCO, Jan. 08, 2018 (GLOBE NEWSWIRE) -- Abiomed, Inc. (NASDAQ:ABMD), a leading provider of breakthrough heart support technologies, today reported preliminary, unaudited, third quarter fiscal 2018 revenue of approximately $154 million, an increase of 34% compared to revenue of $114.7 million for the same period of fiscal 2017.
Preliminary unaudited U.S. revenue from Impella® products grew 30% to approximately $130.7 million from $100.3 million in the prior fiscal year.
For the third quarter of fiscal 2018, U.S. patient usage grew 33% in comparison with the same period of fiscal 2017. Protected PCI patient usage grew 24% and emergent patient usage grew 43%, 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 2018 on February 1, 2018.
These preliminary results are being provided in advance of the Company's presentation at the 36th Annual J.P. Morgan Healthcare Conference at the Westin St. Francis Hotel in San Francisco. Michael R. Minogue, Chairman, President and Chief Executive Officer of Abiomed, will present at 5:00 p.m. PT / 8:00 p.m. ET on Monday, January 8, 2018.
A live webcast of the Company's presentation at the conference will be available via the link https://jpmorgan.metameetings.net/events/healthcare18/sessions/13292-abiomed-inc/webcast. The webcast will also be available 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 2018 OUTLOOK
Preliminary fiscal 2018 guidance has been upgraded to approximately $582 million, an increase of approximately 31% from the prior year. This compares to prior fiscal 2018 guidance of $565 million to $575 million. Formal guidance and other operating details of third quarter fiscal 2018 will be provided on the company earnings call on February 1, 2018.
EARNINGS CONFERENCE CALL DETAILS
The Company will release full quarterly results for the third quarter of fiscal 2018 via conference call on Thursday, February 1, 2018. 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. ET February 1, 2018 through 11:00 a.m. ET on February 8, 2018. The replay phone number is (855) 859-2056; the international number is (404) 537-3406. The replay access code is 2967997.
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.
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.
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
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
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