• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Advertise
  • Subscribe

MassDevice

The Medical Device Business Journal — Medical Device News & Articles | MassDevice

  • Latest News
  • Technologies
    • Artificial Intelligence (AI)
    • Cardiovascular
    • Orthopedics
    • Neurological
    • Diabetes
    • Surgical Robotics
  • Business & Finance
    • Wall Street Beat
    • Earnings Reports
    • Funding Roundup
    • Mergers & Acquisitions
    • Initial Public Offering (IPO)
    • Legal News
    • Personnel Moves
    • Medtech 100 Stock Index
  • Regulatory & Compliance
    • Food & Drug Administration (FDA)
    • Recalls
    • 510(k)
    • Pre-Market Approval (PMA)
    • MDSAP
    • Clinical Trials
  • Special Content
    • Special Reports
    • In-Depth Coverage
    • DeviceTalks
  • Podcasts
    • MassDevice Fast Five
    • DeviceTalks Weekly
    • OEM Talks
      • AbbottTalks
      • Boston ScientificTalks
      • DeviceTalks AI
      • IntuitiveTalks
      • MedtechWOMEN Talks
      • MedtronicTalks
      • Neuro Innovation Talks
      • Ortho Innovation Talks
      • Structural Heart Talks
      • StrykerTalks
  • Resources
    • About MassDevice
    • DeviceTalks
    • Newsletter Signup
    • Leadership in Medtech
    • Manufacturers & Suppliers Search
    • MedTech100 Index
    • Videos
    • Webinars
    • Whitepapers
    • Voices
Home » Cardiovascular Systems sinks on missed Q1 revenues

Cardiovascular Systems sinks on missed Q1 revenues

May 6, 2020 By Sean Whooley

Cardiovascular-SystemsCardiovascular Systems (NSDQ:CSII) shares dropped today on COVID-19-affected first-quarter results that missed the consensus forecast.

The St. Paul, Minn.-based company posted losses of -$2.9 million, or -8¢ per share, on sales of $61.2 million for the three months ended March 31, 2020, sliding into the red from profits of $672,000 year-over-year on a sales decline of 3.4%.

Adjusted to exclude one-time items, earnings per share were level with Wall Street projections at -8¢. Analysts were looking for sales of $65.8 million.

According to a news release, from the second week of March onward, the company saw a 25% decrease in procedural volumes year over year for patients treated with its orbital atherectomy devices. This decrease, a result of the COVID-19 pandemic delaying elective procedures, represented a revenue hit of between $10 million and $11 million.

“We have been proactive in preparing for this crisis and we are focused on three overarching goals: to assure our continued ability to serve our customers and support our patients during the outbreak, to protect the health and financial security of our employees, and finally, to ensure business continuity,” Cardiovascular Systems chairman, president & CEO Scott Ward said in the release. “Our field employees who continue to support cases and work in clinical settings are provided access to personal protection equipment and abide by the local requirements stipulated by the healthcare facilities they serve. Most of our office-based employees are telecommuting.
“We have safeguarded our facilities and deployed additional screening and testing protocols to protect our manufacturing and other essential employees that are required to be on site. Finally, we have reduced variable spending to assure that the strength and capacity of our business remains intact.”

Cardiovascular Systems withdrew its 2020 financial guidance amid the uncertainties brought on by the pandemic.

CSII shares were down -6.4% at $38.58 per share in midday trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — was up 0.8%.

Filed Under: Business/Financial News, Cardiovascular, MassDevice Earnings Roundup, Wall Street Beat Tagged With: Cardiovascular Systems Inc., coronavirus, COVID-19

More recent news

  • Zimmer Biomet to expand robotic suite with Monogram acquisition
  • Comphya raises CHF 7.5 million for neurostim to treat ED
  • Fujifilm launches intelligent automation features for digital radiography
  • Integer appoints former iRhythm CEO to board
  • MMI debuts robotic surgery instruments, digital surgery platform

About Sean Whooley

Sean Whooley is an associate editor who mainly produces work for MassDevice, Medical Design & Outsourcing and Drug Delivery Business News. He received a bachelor's degree in multiplatform journalism from the University of Maryland, College Park. You can connect with him on LinkedIn or email him at [email protected].

Primary Sidebar

“md
EXPAND YOUR KNOWLEDGE AND STAY CONNECTED
Get the latest med device regulatory, business and technology news.

DeviceTalks Weekly

See More >

MEDTECH 100 Stock INDEX

Medtech 100 logo
Market Summary > Current Price
The MedTech 100 is a financial index calculated using the BIG100 companies covered in Medical Design and Outsourcing.
MDO ad

Footer

MASSDEVICE MEDICAL NETWORK

DeviceTalks
Drug Delivery Business News
Medical Design & Outsourcing
Medical Tubing + Extrusion
Drug Discovery & Development
Pharmaceutical Processing World
MedTech 100 Index
R&D World
Medical Design Sourcing

DeviceTalks Webinars, Podcasts, & Discussions

Attend our Monthly Webinars
Listen to our Weekly Podcasts
Join our DeviceTalks Tuesdays Discussion

MASSDEVICE

Subscribe to MassDevice E-Newsletter
Advertise with us
About
Contact us

Copyright © 2025 · WTWH Media LLC and its licensors. All rights reserved.
The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of WTWH Media.

Privacy Policy