Leading cardiac assist devices maker,
), provided encouraging preliminary data for its fourth-quarter
2013 results. The company will report full results on May 2,
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Revenues climbed 17% year over year to $43.7 million. It
increased 14% sequentially, reflecting solid Impella product
sales. For fiscal 2013, revenues grew 25% to $158.1 million,
which was above the company's guidance of $155-$157 million.
The current Zacks Consensus Estimates for revenues for the fourth
quarter and fiscal 2013 are $42 million and $156 million,
Preliminary global Impella sales for the fourth quarter increased
22% to $39.3 million, while the same for fiscal 2013 grew 31% to
$106.9 million. It also surpassed the company's expectation of
achieving 30% year over year growth.
Further, preliminary U.S. Impella sales grew 22% to $36.5
million. Abiomed opened 30 new U.S. Impella 2.5 sites in the
quarter to end with 748 customer sites. Additionally, Impella CP
was sold to 55 hospitals, bringing the total to 101 customer
sites. For fiscal 2013, U.S. Impella revenues increased 32% to
Mass.-based Abiomed is engaged in developing, manufacturing and
marketing of medical products designed to assist or replace the
pumping function of the failing heart. It is enjoying a strong
demand for its Impella products. Impella utilization continues to
grow at a healthy pace, as is evident from the increasing number
of patients being treated with the device.
The current Zacks Consensus Estimates for earnings for the fourth
quarter and fiscal 2013 are 7 cents and 34 cents, respectively.
The company has a Zacks Rank #2 (Buy). Other medical stocks such
) with a Zacks Rank #1 (Strong Buy) appear impressive.