Led by increased adoption of its Impella heart pumps, Abiomed reported a 40 percent growth in sales to $103 million during the first quarter of fiscal year 2017. The company’s GAAP earnings also rose from $0.20 per diluted share to $0.29 per diluted share.
In the U.S., revenue from the Impella devices increased 41 percent to $89.6 million and patient usage grew 40 percent.
During the quarter, an additional 27 hospitals made initial purchases of the Impella 2.5 heart pumps, an additional 35 hospitals purchased the Impella CP device and an additional nine sites purchased the Impella RP device.
As of now, 1,066 sites have installed the Impella 2.5 device, 861 sites have the Impella CP device and 89 sites have installed the Impella RP device.
On April 7, the FDA granted Abiomed premarket approval for the the Impella 2.5, Impella CP, Impella 5.0 and Impella LD devices to treat ongoing cardiogenic shock.
For the first quarter of fiscal year 2017, Abiomed had an 85.4 percent gross margin and 20.6 percent operating margin, which were both increases from the same period last year.
Abiomed also provided guidance for fiscal year 2017. The company expects revenue of between $435 million and $445 million, an increase of 32 percent to 35 percent from fiscal year 2016. It expects GAAP operating margins 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.