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 (Date of earliest event reported): January 9, 2017
(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) |
001-09585
(Commission File Number)
22 Cherry Hill Drive
Danvers, MA 01923
(Address of Principal Executive Offices, including Zip Code)
(978) 646-1400
(Registrants 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 January 9, 2017, we issued a press release reporting preliminary unaudited revenue results for our third quarter ended December 31, 2016. 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 January 9, 2017. |
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/ Michael J. Tomsicek | |
Michael J. Tomsicek Vice President and Chief Financial Officer (Principal Accounting and Financial Officer) |
Date: January 10, 2017
Exhibit Index
Exhibit Number |
Description | |
99.1 | Press release dated January 9, 2017. |
Exhibit 99.1
ABIOMED ANNOUNCES PRELIMINARY Q3 FY 2017 REVENUE OF $114.7 MILLION, UP 34% OVER PRIOR YEAR
- Largest Quarterly Sequential Revenue Increase in Company History
DANVERS, MA AND SAN FRANCISCO, CA. January 9, 2017 Abiomed, Inc. (NASDAQ: ABMD), a leading provider of breakthrough heart support technologies today reported preliminary, unaudited, third quarter fiscal 2017 revenue of approximately $114.7 million, an increase of 34% compared to revenue of $85.8 million for the same period of fiscal 2016.
| Preliminary unaudited U.S. revenue from Impella® products grew 34% to approximately $100.3 million from $75.0 million in the prior fiscal year. |
| For the third quarter of fiscal 2017, U.S. patient usage grew 32% in comparison with same period of fiscal 2016. Protected PCI patient usage grew 34% and emergent patient usage grew 36%, year-over-year. |
The preliminary unaudited revenue results described in this press release are estimates only and are subject to revision until the Company reports its full financial results for the third quarter of fiscal 2017 on January 26, 2017.
These preliminary results are being provided in advance of the Companys presentation at the 35th Annual J.P. Morgan Healthcare Conference at the Westin St. Francis Hotel in San Francisco. Michael R. Minogue, Chairman, President and Chief Executive Officer, Abiomed, will present at 9:30 a.m. PT/12:30 p.m. ET on Wednesday, January 11, 2017.
A live webcast of the Companys presentation at the conference will be available via http://jpmorgan.metameetings.com/confbook/healthcare17/directlink?p=22722 as well as on the investor section of the companys website at www.abiomed.com. A replay of the webcast will be available for 90 days after the presentation.
FISCAL YEAR 2017 OUTLOOK
The Company is maintaining its fiscal year 2017 revenue guidance of $435 million to $445 million, an increase in revenue of 32% to 35% from the prior year. The Company is also maintaining its fiscal year guidance for GAAP operating margin to be in the range of 18% to 20%.
EARNINGS CONFERENCE CALL DETAILS
The Company will release full quarterly results for the third quarter of fiscal 2017 via conference call on Thursday, January 26, 2017.
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. EST January 26, 2017 through 11 a.m. EST on January 29, 2017. The replay phone number is (855) 859-2056; the international number is (404) 537-3406. The replay access code is 44227123.
The ABIOMED logo, ABIOMED, 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 and Recovering hearts. Saving lives. 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 contains forward-looking statements, including statements regarding development of Abiomeds existing and new products, the Companys progress toward commercial growth, and future opportunities and expected regulatory approvals. The Companys 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 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 other risks and challenges detailed in the Companys filings with the Securities and Exchange Commission, including the most recently filed Annual Report on Form 10-K and 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:
Ingrid Goldberg,
Director, Investor Relations
978-646-1590
ir@abiomed.com
Adrienne Smith
Senior Director, Public Relations and Corporate Communications
978-646-1553
adsmith@abiomed.com