Abiomed slashes Q2 losses on 17 percent sales boost

November 4, 2010 by Jaclyn Reiss

Abiomed Inc. cut its net losses by nearly 60 percent, logging a 16.8 percent top-line increase.

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Abiomed Inc. (NSDQ:ABMD) slashed its second-quarter net losses on a 16.8 percent top-line increase, posting what CEO Michael Minogue called the company's "best quarter in our 29-year history."

The Danvers, Mass.-based cardiac assist device maker reported net losses of $3.2 million, or 9 cents per diluted share, on sales of $23.4 million for the three months ended Sept. 30, compared with net losses of $7.7 million, or 21 cents per diluted share, on sales of $20.0 million during the same period last year.

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