Abiomed (ABMD) - Get Report shares jumped after the provider of technology to support the heart's blood circulation reiterated its fiscal 2020 earnings forecast.

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.