Abiomed Inc. Q3 Profit Decreases, but beats estimates

(RTTNews) - Abiomed Inc. (ABMD) announced earnings for third quarter that decreased from last year but beat the Street estimates.

The company's earnings came in at $45.75 million, or $1.00 per share. This compares with $61.87 million, or $1.35 per share, in last year's third quarter.

Excluding items, Abiomed Inc. reported adjusted earnings of $52.07 million or $1.13 per share for the period.

Analysts on average had expected the company to earn $0.97 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 12.7% to $261.18 million from $231.66 million last year.

Abiomed Inc. earnings at a glance (GAAP) :

-Earnings (Q3): $45.75 Mln. vs. $61.87 Mln. last year. -EPS (Q3): $1.00 vs. $1.35 last year. -Analyst Estimates: $0.97 -Revenue (Q3): $261.18 Mln vs. $231.66 Mln last year.

-Guidance: Full year revenue guidance: $1,025 - $1,030 Mln