Impella sales drive down Abiomeds Q3 losses, guidance raised
Abiomed has narrowed its net losses, partily due to strong sales of Impella in the third quarter of 2011, which ended Dec. 31, 2010.
The company reported a generally accepted accounting principles (GAAP) net loss for the third quarter of 2011 of $802,000, compared with a GAAP net loss of $4.6 million for the third quarter of 2010.
The overall revenue rose to $27.2 million, up 19 percent, in the 2011 third quarter, compared with the same period of fiscal 2010, according to the Danvers, Mass.-based Abiomed.
Worldwide Impella revenue totaled $21.1 million, up 33 percent compared with revenue of $15.9 million during the same period of the prior year. A reported 752 U.S. commercial patients were treated with Impella 2.5, 5.0 or LD, which is a 77 percent increase compared with a reported 425 patients in the third quarter of fiscal 2010. Also, U.S. Impella reorders of $16.9 million were up 106 percent from $8.2 million in the third quarter of fiscal 2010 and represented 87 percent of U.S. Impella revenue.
Based on third quarter fiscal 2011 results and a positive Impella outlook, the company raised its prior full year worldwide revenue guidance of $93 million to $97 million to the range of $99 million to $101 million, representing a 16 to 18 percent increase over the prior fiscal year.
The company reported a generally accepted accounting principles (GAAP) net loss for the third quarter of 2011 of $802,000, compared with a GAAP net loss of $4.6 million for the third quarter of 2010.
The overall revenue rose to $27.2 million, up 19 percent, in the 2011 third quarter, compared with the same period of fiscal 2010, according to the Danvers, Mass.-based Abiomed.
Worldwide Impella revenue totaled $21.1 million, up 33 percent compared with revenue of $15.9 million during the same period of the prior year. A reported 752 U.S. commercial patients were treated with Impella 2.5, 5.0 or LD, which is a 77 percent increase compared with a reported 425 patients in the third quarter of fiscal 2010. Also, U.S. Impella reorders of $16.9 million were up 106 percent from $8.2 million in the third quarter of fiscal 2010 and represented 87 percent of U.S. Impella revenue.
Based on third quarter fiscal 2011 results and a positive Impella outlook, the company raised its prior full year worldwide revenue guidance of $93 million to $97 million to the range of $99 million to $101 million, representing a 16 to 18 percent increase over the prior fiscal year.