Abiomed’s quarterly revenue increases 34 percent, led by strong Impella sales growth
Abiomed’s revenue increased 34 percent to $114.7 million during the third fiscal quarter of 2017 compared with the same time period last year.
Meanwhile, its GAAP net income increased from $0.23 per diluted share in the third fiscal quarter of 2016 to $0.34 per share in the third fiscal quarter of 2017.
Abiomed announced the results in a news release on Jan. 26.
Most of the company’s revenue came from sales of its Impella heart pumps. During the quarter, Abiomed reported $109.2 million in Impella sales, a 35 percent increase during the same period last year.
Abiomed had $100.3 million in Impella sales in the U.S. and $8.9 million in Impella sales outside of the U.S., an increase of 34 percent and 47 percent, respectively. The company said that U.S. patient usage increased 32 percent, while most of the non-U.S. revenue came from Germany.
During the quarter, 20 hospitals made initial purchases of Impella 2.5 heart pumps, 49 hospitals made initial purchases of Impella CP heart pumps and 8 hospitals made initial purchases of the Impella RP heart pumps.
At the end of the quarter, which was Dec. 31, 2016, 1,119 sites had Impella 2.5 heart pumps, 972 sites had Impella CP heart pumps and 120 sites had Impella RP heart pumps.
From the third fiscal quarter of 2016 to the third fiscal quarter of 2017, Abiomed’s gross margin decreased from 85.1 percent to 83.4 percent, while its operating margin increased from 20.4 percent to 22.2 percent.
Abiomed expects fiscal year 2017 revenue in the range of $440 to $445 million, which would represent an increase of 34 percent to 35 percent from fiscal year 2016. The company projects fiscal year 2017 operating margin in the range of 18 percent to 20 percent.
Executive Editor
Tim Casey joined TriMed Media Group in 2015 as Executive Editor. For the previous four years, he worked as an editor and writer for HMP Communications, primarily focused on covering managed care issues and reporting from medical and health care conferences. He was also a staff reporter at the Sacramento Bee for more than four years covering professional, college and high school sports. He earned his undergraduate degree in psychology from the University of Notre Dame and his MBA degree from Georgetown University.