8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934

Date of Report: May 19, 2010

(Date of earliest event reported)

ABIOMED, Inc.

(Exact name of registrant as specified in its charter)

Delaware	04-2743260
(State or other Jurisdiction of Incorporation)	(IRS Employer Identification Number)

0-20584

(Commission File Number)

22 Cherry Hill Drive

Danvers, MA 01923

(Address of Principal Executive Offices, including Zip Code)

(978) 646-1400

(Registrant’s Telephone Number, including Area Code)

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)

Item 2.02   Results of Operations and Financial Condition.

On May 19, 2010 we issued a press release reporting our financial results for our fourth quarter and fiscal year ended March 31, 2010. A copy of the press release is set forth as exhibit 99.1 and is incorporated herein by reference. The information contained in this report shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that Section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Securities Act of 1934, whether made before or after the date hereof and regardless of any general incorporation language in such filing, except as expressly set forth by specific reference in such filing.

Item 9.01   Financial Statements and Exhibits.

(d)          Exhibits.

Exhibit	Description
99.1	Press release dated May 19, 2010.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

Abiomed, Inc.
By:	/s/ Robert L. Bowen
	Robert L. Bowen
	Vice President and Chief Financial Officer
	(Principal Accounting and Financial Officer)

Date:  May 19, 2010

Exhibit Index

Exhibit Number	Description
99.1	Press release dated May 19, 2010.

EX-99.1

ABIOMED REPORTS RECORD U.S. IMPELLA UTILIZATION

OF 545 PATIENTS, UP 109%

-   Cash Positive During Fourth Quarter Fiscal 2010

-   Record Fourth Quarter Fiscal 2010 Revenue of $23.0 Million

DANVERS, Mass. — May 19, 2010 – Abiomed, Inc. (NASDAQ: ABMD), a leading provider of breakthrough heart support technologies, today reported fourth quarter fiscal 2010 revenue of $23.0 million, up 17% compared to revenue of $19.6 million for the same period of fiscal 2009.

Worldwide Impella revenue for the full fiscal year 2010 totaled $57.8 million, up 59% compared to revenue of $36.4 million in the prior year.

Total revenue for the full fiscal year 2010 was $85.7 million, up 17% compared to revenue of $73.2 million in the prior year.

Financial and operating highlights during the fourth quarter of fiscal 2010 include:

· Approximately 545 U.S. commercial patients were treated with Impella® 2.5, 5.0 or LD, a 109% increase compared to approximately 261 commercial patients in the fourth quarter of fiscal 2009 and a 28% increase compared to approximately 425 patients in the prior quarter.

· U.S. commercial Impella reorders totaled $13.0 million, up 165% from $4.9 million in the fourth quarter of fiscal 2009. Total commercial U.S. Impella revenue, including initial site stocking orders and reorders, totaled $15.2 million, a 67% increase compared to $9.1 million in the fourth quarter of fiscal 2009.

· An additional 21 U.S. hospitals purchased Impella 2.5 for commercial use during the quarter, bringing the total to 413 commercial customers.

· 27 patients were enrolled in the Protect II study, for a total of 341 patients completed, or 52% of the 654 patients required, triggering the submission for an interim data review.

· Non-Impella revenue was $6.2 million for the fourth quarter of fiscal 2010, 26% lower than $8.4 million in the fourth quarter of fiscal 2009.

· Gross margin rate for the fourth quarter of fiscal 2010 was 73%, compared to 72% in the fourth quarter of fiscal 2009.  In the fourth quarter of fiscal 2010, approximately $0.7 million of legacy product (non-Impella) excess or obsolete inventory reserves were recorded. Excess and obsolete inventory reserves for legacy product in the fourth quarter of fiscal 2009 totaled $0.4 million.

· GAAP basic and diluted net earnings for the fourth quarter of fiscal 2010 was $0.2 million, or $0.01 per share, compared to a basic and diluted GAAP net loss of $8.5 million, or $0.23 per share for the fourth quarter of fiscal 2009.  The full year fiscal 2010 GAAP net loss was $19.8 million, or $0.54 per share, compared to a GAAP net loss of $31.6 million, or $0.91 per share in the prior year.

· Non-GAAP net loss, which is described later in this press release for the fourth quarter of fiscal 2010 was $4.8 million, or $0.13 per share versus non-GAAP net loss of $ 5.9 million or $0.16 per share, in the fourth quarter fiscal 2009.   The full 2010 fiscal year non-GAAP net loss, which is described later in this press release, was $16.9 million, or $0.46 per share compared to a non-GAAP net loss for the full fiscal year 2009 of $20.8 million, or a loss of $0.61 per share.

· Cash proceeds from the sale of World Heart stock totaled $6.4 million.  All other changes in cash, cash equivalents and short term marketable securities resulted in a positive contribution to cash of $0.2 million during the fourth quarter of fiscal 2010.  Cash, cash equivalents plus short-term marketable securities totaled $58.3 million at March 31, 2010 compared to $51.7 million at December 31, 2009.

IMPELLA US COMMERCIAL LAUNCH

	Q4’09	Q1’10	Q2’10	Q3'10	Q4'10	V% Growth Q4’10 vs. Q4’09
# of Patients per Quarter	261	341	338	425	545	109%
Reorder Revenue (Contribution to  Total U.S. Commercial Revenue)	$4.9M	$6.4M	$6.6M	$8.2M	$13.0M	165%
Total U.S. Commercial  Revenue	$9.1M	$10.5M	$12.1M	$14.5M	$15.2M	67%
# of Hospitals added per Quarter	66	47	50	66	21	-68%

“Our fourth quarter fiscal 2010 strategy to focus on existing Impella sites was rewarded with utilization growth of 109% year over year, and 28% sequentially. We supported more Impella commercial patients this quarter than in all of fiscal year 2009,” said Michael R. Minogue, Chairman, President and Chief Executive Officer of Abiomed.  “We believe our product enhancements and quick set-up kit, as well as the positive reception to our USpella registry and multiple publications, were key drivers in the continuing growth of patients supported by Impella. We are now even better positioned for fiscal 2011.”

Based on current expectations, the Company anticipates fiscal year 2011 worldwide revenues in the range of $93 million to $95 million.

U.S commercial Impella revenues are expected to grow from a continued focus on utilization by approximately 25 - 30%.  Worldwide Legacy revenues (non-Impella) are expected to be lower by approximately 25 - 30%.

The Company will host a conference call to discuss the results on Wednesday, May 19, 2010, at 8:00 a.m. ET. Michael R. Minogue, Chairman, President and Chief Executive Officer and Robert L. Bowen, Vice President and Chief Financial Officer, will host the conference call.

To listen to the call live, please tune into the webcast via http://investor.abiomed.com or dial 866.770.7129; the international number is 617.213.8067. The access participant code is 64191812. A replay of this conference call will be available beginning at 11 a.m. ET on May 19, 2010 through 11:59 p.m. ET on June 2, 2010. The replay phone number is 888.286.8010; the international number is 617.801.6888.  The replay access code is 64963529.

ABOUT ABIOMED

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

USE OF NON-GAAP MEASURES

In addition to financial measures prepared in accordance with generally accepted accounting principles (GAAP), this earnings announcement also contains non-GAAP financial measures of net loss and net loss per share, in each case excluding, where appropriate, stock-based compensation, intangibles amortization and other costs, expenses or income which management believes are useful supplemental information to management and investors regarding the performance of the company’s business operations, provide a greater transparency with respect to key metrics used by management in its decision making, facilitate comparisons of results for current periods and assist in analyzing future trends.   Other non-GAAP financial measures include cash from ongoing operations or cash burn, which we define as the change in cash, cash equivalents, short and long-term marketable securities and restricted securities, excluding proceeds from the sale of World Heart securities. We believe that the inclusion of these non-GAAP financial measures in this earnings announcement helps investors to gain a meaningful understanding of our core operating results and future prospects, and can also help investors who wish to make comparisons between us and other companies on both a GAAP and a non-GAAP basis, particularly with respect to stock based compensation expenses. The non-GAAP financial measures included in this earnings announcement are not meant to be considered superior to or a substitute for results of operations prepared in accordance with GAAP. In addition, the non-GAAP financial measures included in this earnings announcement may be different from, and therefore may not be comparable to, similar measures used by other companies. Although certain non-GAAP financial measures used in this release exclude the accounting treatment of stock based compensation expense and other items outlined in this release and above, these non-GAAP measures should not be relied upon independently, as they ignore the contribution to our operating results that is generated by the incentive and compensation effects of the underlying stock based compensation programs.

FORWARD-LOOKING STATEMENTS

This Release contains forward-looking statements, including statements regarding development of Abiomed's existing and new products, the Company's progress toward commercial growth, and future opportunities and expected regulatory approvals. The Company's actual results may differ materially from those anticipated in these forward-looking statements based upon a number of factors, including uncertainties associated with development, testing, regulatory approvals, anticipated future losses, complex manufacturing, high quality requirements, dependence on limited sources of supply, competition, technological change, government regulation, future capital needs and uncertainty of additional financing, and other risks and challenges detailed in the Company's filings with the Securities and Exchange Commission, including the Annual Report filed on Form 10-K and the most recently filed Quarterly Report on Form 10-Q. Readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date of this Release. The Company undertakes no obligation to publicly release the results of any revisions to these forward-looking statements that may be made to reflect events or circumstances that occur after the date of this Release or to reflect the occurrence of unanticipated events.

For further information please contact:

Aimee Maillett

978-646-1553