Summary :
The Danvers, Massachusetts-based company said it had net income of $1.19 per share. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.08 per share. The maker of heart devices posted revenue of $277.1 million in the period, which missed Street forecasts. Abiomed expects full-year revenue in the range of $1.13 billion to $1.17 billion.
DANVERS, Mass. (AP) _ Abiomed Inc. (ABMD) on Thursday reported fiscal first-quarter net income of $54.6 million, after reporting a loss in the same period a year earlier.The Danvers, Massachusetts-based company said it had net income of $1.19 per share. Earnings, adjusted for one-time gains and costs, came to $1.25 per share.The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.08 per share. The maker of heart devices posted revenue of $277.1 million in the period, which missed Street forecasts. Six analysts surveyed by Zacks expected $278.3 million. Abiomed expects full-year revenue in the range of $1.13 billion to $1.17 billion. Abiomed shares have decreased 16% since the beginning of the year. The stock has declined almost 8% in the last 12 months. This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ABMD at https://www.zacks.com/ap/ABMD
