The Danvers, Mass.-based heart pump maker reported profits of $15.4 million, or 34¢ per share, on sales of $114.7 million for the 3 months ended Dec. 31, 2016. That amounts to bottom-line growth of 46.2% on sales growth of 33.7%, compared with Q3 2015.
Analysts on The Street were looking for earnings per share of 29¢ on sales of $112.7 million.
“These are the best of times for Abiomed, because the high-risk patient population has been validated and only now with our regulatory approvals can we educate and train our customers to improve the standard of care through hemodynamic support. We began building this field of heart recovery less than 1 year ago and in the medical technology industry history demonstrates the impact of FDA approvals on adoption,” chairman, president & CEO Michael Minogue said in prepared remarks. “What makes Abiomed unique is Impella’s ability to be used effectively in a hub-and-spoke model to achieve protected PCI and heart muscle recovery in your community.”
Abiomed boosted the low end of its fiscal 2017 forecast, to $440 million to $445 million, compared with prior guidance of $435 million to $445 million.
ABMD shares, which closed up 2.2% at $114.82 apiece yesterday, gained another 1.5% to $116.50 each in after-market trading.