Shares of Abiomed (NSDQ:ABMD) surged nearly 17 percent this morning on Wall Street after the heart pump maker reported its first profitable quarter.
ABMD shares were trading at $16.86 as of about 11 a.m. today as investors reacted to the company’s swing to black ink.
Abiomed posted profits of $601,000, or 2 cents per share, on sales of $29.5 million for the three months ended Sept. 30 – a top-line boost of some 26 percent, compared with losses of $3.2 million, or 9 cents per share, on sales of $23.4 million during the same period last year.