Abiomed (NSDQ:ABMD) shares approached a 52-week high this morning after the medical device company reported fiscal 2nd-quarter sales growth of nearly 19% and beat Wall Street’s earnings forecast.
Danvers, Mass.-based Abiomed logged profits of $1.1 million, or 3¢ per share, on sales of $44.3 million for the 3 months ended Sept. 30. Although that represents a profit slide of 80.6%, it’s also sales growth of 18.5%, and the earnings per share number bested analysts’ expectations for losses of 1¢ per share.
"Abiomed achieved many new quarterly records on Impella utilization, including most overall patients, most prophylactic patients and most emergent patients," chairman, president & CEO Michael Minogue said in prepared remarks. "We are on track to transform into a PMA and PMDA company while setting new records in patient utilization and completing enrollment in our Impella RP study."
Abiomed affirmed its sales outlook for fiscal 2014, saying it still expects to post revenues of $180 million to $185 million.
ABMD shares hit the $25 mark today, near their $25.25 52-week high, on their way to $24.65 apiece as of about 10:40 a.m., for a 0.9% gain on the day.