Abiomed narrows 4th-quarter loss
DANVERS - Heart treatment products maker Abiomed Inc. said yesterday its fiscal fourth-quarter loss narrowed on lower overall expenses.
The company lost $8.5 million, or 23 cents per share, compared with a loss of $15 million, or 46 cents per share, during the same period a year earlier, when it had an investment loss.
Revenue rose 12 percent to $19.6 million from $17.5 million. The 2009 fiscal fourth quarter and year ended March 31.
Excluding charges, the company said it lost 17 cents per share. Analysts polled by Thomson Reuters expected a loss of 16 cents per share on revenue of $20.5 million.
Abiomed sales of its Impella 2.5 Cardiac Assist Device systems more than doubled to $11.2 million during the quarter. The system allows surgeons to implant a device that maintains blood flow in heart-failure patients during and after surgery.
For the full year, the company lost $31.6 million, or 91 cents per share, compared with a loss of $40.9 million, or $1.26 per share, in fiscal 2008. Revenue rose to $73.2 million from $58.9 million.
Shares of Abiomed closed at $6.73, down 13 cents.