Abiomed rings Wall Street's bell with strong Q3 earnings

February 3, 2011 by MassDevice staff

Abiomed Inc. (NSDQ:ABMD) is ringing Wall Street's bell in more ways than one today, with shares jumping nearly 25 percent on strong third-quarter results and CEO Michael Minogue preparing to ring the NASDAQ exchange's closing bell this afternoon.

The Danvers, Mass.-based cardiac assist device maker said sales jumped nearly 23 percent during the three months ended Dec. 31., to $27.2 million. That helped it pare losses to just $802,000, or 2 cents per share. Abiomed posted losses of $4.6 million, or 12 cents per share, on sales of $22.8 million during Q3 2010.

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