UPDATE: Abiomed re-states Q4 results, vaults to nearly $1 million in profits

June 4, 2010 by MassDevice staff

Abiomed Inc. re-states its sales and earnings for the fourth quarter, resulting in a sharp, nearly $1 million boost to its bottom line.

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Abiomed Inc. (NSDQ:ABMD) re-stated its fourth-quarter sales and earnings numbers, resulting in a nearly $1 million boost to its bottom line.

The Danvers, Mass.-based cardiac assist device maker said it failed to account for about $800,000 in reduced operating expenses from its exit from a building lease in Athlone, Ireland. That boosted profits for the fourth quarter from $193,000, or 1 cent per share, to $975,000, or 3 cents per share. That compares with a net loss of $8.5 million, or 23 cents per share, for Q4 2009.

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