Abiomed (NSDQ:ABMD) shares jumped nearly 9% yesterday after the medical device company reported double-digit sales growth during its fiscal 4th quarter and 2013.
Danvers, Mass.-based Abiomed said preliminary sales for the 3 months ended March 31 were $43.7 million, up 17% over the $37.3 million posted during Q4 2012.
Full-year sales rose 25% to $157.1 million, compared with $126.4 million during fiscal 2012, according to a press release.
Investors on Wall Street rewarded Abiomed by sending share prices up 8.6% to a $17.74 close yesterday. Shares were trading at $17.48 as of about 1:30 p.m. today, down 1.5% on the day.
"With an outstanding performance in the 4th quarter, we were able to exceed our annual revenue guidance for the 3rd straight year. This reflects the strength of physician demand for Impella and the commitment of our field team to patients," chairman, president & CEO Michael Minogue said in prepared remarks.
Revenues for Abiomed’s flagship Impella heart pump were $39.3 million during the 4th quarter, up 22% year-on-year. Full-year Impella sales jumped 31% to 140.3 million, Abiomed said.
U.S. Impella sales accounted for the bulk of the device’s revenues, at $36.5 million (up 22%) for the 4th quarter and $131.3 million for fiscal 2013 (a 32% increase).
Abiomed said it plans to release full Q4 and fiscal 2013 results May 2.