Abiomed skips into black for FY12

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heart support, - 36.43 Kb
Abiomed announced Symphony, an implantable synchronized heart pump designed for chronic heart failure patients, at AHA 2011. Source: Abiomed

Abiomed, a developer of heart support technologies, has reported a 25 percent increase in revenues, pushing the company into the black for the fiscal year (FY) 2012. The 2012 fourth quarter also saw double-digit revenues.

For the full fiscal year, total revenue was $126.4 million, up 25 percent compared with revenue of $101.2 million in the prior fiscal year and generally accepted accounting principles (GAAP) net income was $1.5 million compared with GAAP net loss of $11.8 million in the prior year.

The fourth quarter fiscal 2012 revenue was $37.3 million, up 31 percent compared with revenue of $28.5 million in the same period of fiscal 2011, and GAAP net income was $2.6 million, compared with GAAP net loss of $1.8 million in the prior year, according to the Danvers, Mass.-based company.

Abiomed also recorded that the 2012 fiscal fourth quarter worldwide Impella revenue totaled $32.3 million, up 43 percent compared with revenue of $22.6 million during the same period of the prior year. U.S. Impella revenue grew 44 percent to $29.9 million. Full-year worldwide Impella revenue totaled $106.9 million, up 37 percent compared with revenue of $78.2 million during the same period of the prior year. U.S. Impella revenue grew 37 percent to $99.1 million.