Health Care
Abiomed Sees Lighter Sales
TSC Staff
10/12/06 - 06:27 PM EDT
Abiomed(ABMD Quote - Cramer on ABMD - Stock Picks) late Thursday issued downside revenue guidance for its second quarter ended Sept. 30.
The maker of heart-pumping devices forecast sales of $11 million, below Street consensus of $13.3 million in revenue, but a tad higher than reported revenue in the same period last year of $10.9 million.
"Our strategic platforms of Impella and AB5000 (consoles and disposables) performed well during the quarter," said CEO Michael Minogue, who added that revenue for BVS (blood pumps) declined.
After hours, shares of the Danvers, Mass.-based company slipped 6.7%, or 95 cents, to $14.05.
The company will give full second-quarter 2007 results on Nov. 8.
Abiomed closed the regular session up 2 cents to $15.