As part of its earnings report for the fiscal second quarter ended Sept. 30, the Danvers, Mass., company maintained its fiscal 2020 guidance for total revenue of $885 million to $925 million.
That's an increase of 15% to 20% over fiscal 2019. The company also affirmed its guidance for fiscal 2020 GAAP operating margins in a range of 28% to 30%.
For the latest quarter, Abiomed reported net income of $13.1 million, or 28 cents a share, down from $50.1 million, or $1.09, in the year-earlier quarter.
This fiscal year's total includes a loss of 75 cents a share from its investment in Shockwave. The year-earlier figure includes 28 cents a share of tax benefits.
Revenue totaled $205 million in the latest quarter, up 13% from $181.8 million a year earlier. Operating income registered $60.2 million, up 20% from $50.3 million.
The quarter showed "our ability to leverage best practices and support strategies to improve clinical outcomes overall for high-risk [percutaneous coronary intervention], cardiogenic shock and right heart failure," Abiomed CEO Michael Minogue said in a statement. "We have made progress on our key initiatives in the quarter, but we still have more work to do."
Abiomed shares at last check traded at $204.17, up 12%.
This article is commentary by an independent contributor. At the time of publication, the author held no positions in the stocks mentioned.