Abiomed Inc. Q4 Profit Increases, beats estimates

(RTTNews) - Abiomed Inc. (ABMD) revealed a profit for its fourth quarter that increased from last year and beat the Street estimates.

The company's earnings came in at $60.33 million, or $1.31 per share. This compares with $56.86 million, or $1.24 per share, in last year's fourth quarter.

Excluding items, Abiomed Inc. reported adjusted earnings of $53.32 million or $1.16 per share for the period.

Analysts on average had expected the company to earn $1.09 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 11.9% to $269.85 million from $241.25 million last year.

Abiomed Inc. earnings at a glance (GAAP) :

-Earnings (Q4): $60.33 Mln. vs. $56.86 Mln. last year. -EPS (Q4): $1.31 vs. $1.24 last year. -Analyst Estimate: $1.09 -Revenue (Q4): $269.85 Mln vs. $241.25 Mln last year.