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2016-02-04

Abiomed: Abiomed Announces Q3 FY 2016 Revenue of $85.8 Million, Up 38% Over Prior Year

* U.S. Patient Utilization Grew 45%, Year Over Year
* Abiomed Increases Fiscal Year 2016 Revenue Guidance

DANVERS, Mass., Feb. 04, 2016 (GLOBE NEWSWIRE) -- Abiomed, Inc. (NASDAQ:ABMD),
a leading provider of breakthrough heart support technologies, today reported
third quarter fiscal 2016 revenue of $85.8 million, an increase of 38%
compared to revenue of $62.0 million for the same period of fiscal 2015.
Third quarter fiscal 2016 GAAP net income was $10.6 million or $0.23 per
diluted share, compared to GAAP net income of $12.7 million or $0.30 per
diluted share for the prior year period.

Financial and operating highlights during the third quarter of fiscal 2016
include:

* Fiscal third quarter worldwide Impella® heart pump revenue totaled $81.0
million, an increase of 41% compared to revenue of $57.4 million during the
same period of the prior fiscal year. U.S. Impella heart pump revenue grew
45% to $75.0 million from $51.9 million in the prior fiscal year with U.S.
patient usage of the Impella heart pumps up 45%.
* The installed base for Impella 2.5(TM) heart pumps grew by an additional 20
hospitals, which made initial purchases of Impella heart pumps, bringing
the installed customer base to 1,020 sites. As part of Abiomed's continued
Impella CP® heart pump launch, 49 new U.S. hospitals purchased Impella CP,
bringing the total number to 788 sites with Impella CP heart pumps.
* The Impella RP® heart pump installed base had a goal of 60 sites for the
entire fiscal year. As of the end of the third fiscal quarter, the Company
is ahead of schedule, with an additional 17 hospitals that made initial
purchases of the Impella RP during the quarter, bringing the total number
of U.S. sites to 71 with Impella RP heart pumps.
* Gross margin for fiscal third quarter 2016 was 85.1% compared to 84.1% in
the third quarter of fiscal 2015.
* Income from operations for the third quarter of fiscal 2016 was $17.5
million, or 20.4% of revenue, compared to $13.7 million, or 22.1% of
revenue in the prior year period.
* The Company generated $20.7 million in cash, cash equivalents and
marketable securities, totaling $196.2 million as of December 31, 2015,
compared to $175.5 million at September 30, 2015. The Company currently has
no debt.
* In December 2015, the Company announced its intent to purchase its Danvers,
Massachusetts headquarters and is continuing its due diligence for the
final purchase.

"I am proud of our discipline and execution that we have demonstrated in
achieving this early phase of success. We are operationally prepared with our
sector expertise to take advantage of this unique organic opportunity," said
Michael R. Minogue, Chairman, President and Chief Executive Officer, Abiomed.
"Abiomed is revolutionizing the treatment for heart failure by focusing
exclusively on the heart muscle and with new indications, new geographies and
new products on the horizon; the Impella platform has a long runway for
growth."

FISCAL YEAR 2016 OUTLOOK

The Company is increasing its fiscal year 2016 guidance for total revenue to
be approximately $326 million, indicating a growth rate greater than 41% over
the prior year. Previous guidance was in the range of $305 million to $315
million, which had indicated an increase of 32% to 37% from the prior year.
This guidance projects revenue to be approximately $90 million for the fourth
quarter of fiscal 2016.

The Company is increasing its fiscal year 2016 guidance for GAAP operating
margin to greater than 17%, updated from the previous guidance range of 15%
to 17%.

EARNINGS CONFERENCE CALL DETAILS

The Company will release full quarterly results for the third quarter of
fiscal 2016 and update the fiscal 2016 guidance via conference call at 8 a.m.
ET on Thursday, February 4, 2016. The conference call releasing full
quarterly results will be hosted by Michael R. Minogue, Chairman, President
and Chief Executive Officer and Michael Tomsicek, Vice President and Chief
Financial Officer.

To listen to the call live, please tune into the webcast via
http://investor.abiomed.com or dial (855) 212-2361; the international number
is (678) 809-1538. A replay of this conference call will be available
beginning at 11 a.m. EDT February 4, 2016 through 11:59 p.m. EDT on February
6, 2016. The replay phone number is (855) 859-2056; the international number
is (404) 537-3406. The replay access code is 3101592.

The ABIOMED logo, ABIOMED, Impella, Impella CP, Impella RP, and Symphony are
registered trademarks of Abiomed, Inc. in the U.S.A. and certain foreign
countries. Impella 2.5, Impella 5.0, Impella LD, Impella BTR, Impella cVAD,
Impella ECP, Recovering hearts. Saving lives., and Protected PCI are
trademarks of Abiomed, Inc.

ABOUT ABIOMED

Based in Danvers, Massachusetts, Abiomed, Inc. is a leading provider of
medical devices that provide circulatory support. Our products are designed
to enable the heart to rest by improving blood flow and/or performing the
pumping of the heart. For additional information, please visit:
www.abiomed.com.

FORWARD-LOOKING STATEMENTS

This release includes forward-looking statements. These forward-looking
statements generally can be identified by the use of words such as
"anticipate," "expect," "plan," "could," "may," "will," "believe,"
"estimate," "forecast," "goal," "project," and other words of similar
meaning. These forward-looking statements address various matters including,
the Company's guidance for fiscal 2016 revenue. Each forward-looking
statement contained in this press release is subject to risks and
uncertainties that could cause actual results to differ materially from those
expressed or implied by such statement. Applicable risks and uncertainties
include, among others, uncertainties associated with development, testing and
related regulatory approvals, including the potential for future losses,
complex manufacturing, high quality requirements, dependence on limited
sources of supply, competition, technological change, government regulation,
litigation matters, future capital needs and uncertainty of additional
financing, and the risks identified under the heading "Risk Factors" in the
Company's Annual Report on Form 10-K for the year ended March 31, 2015 and
the Company's Quarterly Report on Form 10-Q for the quarters ended June 30,
2015 and September 30, 2015, each filed with the Securities and Exchange
Commission, as well as other information the Company files with the SEC. We
caution investors not to place considerable reliance on the forward-looking
statements contained in this press release. You are encouraged to read our
filings with the SEC, available at www.sec.gov, for a discussion of these and
other risks and uncertainties. The forward-looking statements in this press
release speak only as of the date of this release and the Company undertakes
no obligation to update or revise any of these statements. Our business is
subject to substantial risks and uncertainties, including those referenced
above. Investors, potential investors, and others should give careful
consideration to these risks and uncertainties.

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| |
| Abiomed, Inc. and Subsidiaries |
| Consolidated Balance Sheets |
| (Unaudited) |
| (in thousands, except share data) |
| |
| December 31, 2015 March 31, 2015 |
| |
| ASSETS |
| Current assets: |
| Cash and cash equivalents $ 53,226 $ 22,401 |
| Short-term marketable securities 142,968 109,557 |
| Accounts receivable, net 36,842 31,828 |
| Inventories 25,535 16,774 |
| Prepaid expenses and other current assets 4,115 4,479 |
| Deferred tax assets, net 19,059 35,100 |
| Total current assets 281,745 220,139 |
| Long-term marketable securities - 13,996 |
| Property and equipment, net 15,020 9,127 |
| Goodwill 31,697 31,534 |
| In-process research and development 14,786 14,711 |
| Long-term deferred tax assets, net 43,956 45,206 |
| Other assets 4,422 3,654 |
| Total assets $ 391,626 $ 338,367 |
| LIABILITIES AND STOCKHOLDERS' EQUITY |
| Current liabilities: |
| Accounts payable $ 8,836 $ 10,389 |
| Accrued expenses 21,921 21,894 |
| Deferred revenue 6,913 7,036 |
| Total current liabilities 37,670 39,319 |
| Other long-term liabilities ...

Författare WKR

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