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Abiomed Reports Solid Q1 Results, Beats Estimates

Abiomed Inc (NASDAQ:ABMD) reported Q4 EPS of $0.01 today, beating the consensus estimate for a $0.04 per share loss. Revenue for the quarter grew 24% year-over-year to $28.5 million, above the consensus estimate for $27.7 million.

Michael R. Minogue, Chairman, President and Chief Executive Officer of Abiomed said, "Our momentum continues to grow with multiple best ever quarterly results and customer comprehension of the positive PROTECT II outcomes at 90 days. The Company executed this year by growing U.S. Impella reorder revenue by 82% and generating $1.6 million in cash from operating activities. We are proud of our results in fiscal year 2011 and grateful to our customers and investors for their ongoing support."

The company sees fiscal 2012 revenues to increase by 20% to 24% over fiscal 2011, to $120 to $125 million, just above the consensus estimate for $119.4 million.

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