Abiomed slips after wider Q2 loss
Abiomed, Inc. (Nasdaq: ABMD) shares are down in pre-market trading after the medical products and services provider announced a wider second-quarter loss of $9.4 million, or $0.29 per share, worse than analyst estimates of a loss of $0.21 per share and compared with a loss of $8.7 million, or $0.33 per share, a year earlier.
“Overall, we are excited and prepared to enter the U.S. market with our strategic platforms of Impella and iPulse products when we receive FDA approvals,” CEO Michael Minogue said in a statement. “As we stated at the start of the fiscal year, the revenue ramp in the U.S. is dependent on regulatory approvals and would be second half loaded.”
The Danvers, Mass.-based company reaffirmed its fiscal 2008 revenue growth estimate of greater than 20%.
During the three months ended Sept. 30, the company’s revenue totaled $11.4 million, below Wall Street projections of $14 million and compared with $10.9 million last year.
In pre-market trading, ABMD shares are down 9.04%, or $1.20, at $12.07. Over the last 52 weeks, shares have ranged from $9.95 to $15.10.
