Abiomed narrows losses in Q1, due to increased Impella sales

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Abiomed, a developer of heart support technologies, has reported a first quarter fiscal 2011 revenue of $21.76 million, up 11 percent compared with the same period of fiscal 2010.

The Danvers, Mass.-based company recorded a GAAP [generally accepted accounting principles] net loss for the first quarter of fiscal 2011 of $5.98 million, compared with a GAAP net loss of $7.76 million for the first quarter of fiscal 2010.

Worldwide Impella revenue totaled $16.6 million, up 38 percent compared with the revenue of $12 million in the prior year’s first fiscal year. Total U.S. Impella revenue, including initial site stocking orders and reorders, was $15.5 million, a 48 percent increase compared to $10.5 million in the first quarter of fiscal 2010. Also, U.S. Impella reorders of $13.7 million were up 114 percent from $6.4 million in the first quarter of fiscal 2010 and represented 88 percent of commercial U.S. Impella revenue.