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Abiomed: Fiscal 4Q Earnings Snapshot

DANVERS, Mass. (AP) _ Abiomed Inc. (ABMD) on Thursday reported fiscal fourth-quarter profit of $74 million.

The Danvers, Massachusetts-based company said it had profit of $1.60 per share. Earnings, adjusted for non-recurring gains and pretax gains, were $1.07 per share.

The results met Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was also for earnings of $1.07 per share.

The maker of heart devices posted revenue of $207.1 million in the period, which did not meet Street forecasts. Five analysts surveyed by Zacks expected $217.7 million.

For the year, the company reported profit of $259 million, or $5.61 per share. Revenue was reported as $769.4 million.

Abiomed expects full-year revenue in the range of $900 million to $945 million.

Abiomed shares have declined 15% since the beginning of the year. The stock has declined 11% 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