The St. Paul, Minn.-based company reported profits of $672,000, or 2¢ per share, on sales of $63.3 million for the three months ending March 31, for a bottom-line gain of 84.1% on sales growth of 13.9% when compared with Q3 of 2019.
Analysts on Wall Street were looking for a loss-per-share of 3¢ on sales of $62.9 million, both of which the company topped.
“Our strategy to provide exceptional case support, deliver continuous innovation and produce compelling medical evidence resonates with our customers. Fiscal year-to-date, these efforts are translating into market-leading growth in both peripheral and coronary atherectomy,” president and CEO Scott Ward said in a press release.
Cardiovascular Solutions posted guidance for the fiscal 2019 year, now expecting to post sales of between $245 million and $247 million, representing growth of between 13% and 14%.
“Consistent with our plan, we have successfully accelerated revenue growth this year. During the first nine months of fiscal 2019, revenues increased 13.9% versus 3.9% during the comparable period one year ago,” Ward said. “We are driving growth primarily through increased adoption of orbital atherectomy domestically and introducing our technology to new international markets. We remain on track to achieve revenue of $245 million to $247 million, representing the upper half of our fiscal 2019 revenue guidance range.”
CSII shares were down by 0.31% today, closing at $35.43.