Abiomed Inc. Q2 Profit Increases, beats estimates

(RTTNews) - Abiomed Inc. (ABMD) reported earnings for its second quarter that increased from last year and beat the Street estimates.

The company's bottom line came in at $106.13 million, or $2.32 per share. This compares with $56.95 million, or $1.24 per share, in last year's second quarter.

Excluding items, Abiomed Inc. reported adjusted earnings of $59.4 million or $1.30 per share for the period.

Analysts on average had expected the company to earn $1.04 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 7.2% to $265.92 million from $248.14 million last year.

Abiomed Inc. earnings at a glance (GAAP) :

-Earnings (Q2): $106.13 Mln. vs. $56.95 Mln. last year. -EPS (Q2): $2.32 vs. $1.24 last year. -Analyst Estimate: $1.04 -Revenue (Q2): $265.92 Mln vs. $248.14 Mln last year.