Abiomed to Shareholders: Patience Please, Growth Is On The Way.
Abiomed (NASDAQ: ABMD) reported its fiscal 2021 fourth-quarter earnings last week, with 17% year-over-year revenue growth of $243 million for the quarter. For many mature medical device companies, this would be a fantastic result. Unfortunately, for the full fiscal year, revenue only rose 1% to $848 million. This is apparently why the market punished the maker of implantable cardiac pumps after the announcement.
However, as was frequently mentioned in the earnings call for the period, which ended March 31, the next stage of the company's life cycle, dubbed Abiomed 2.0, is here, and the company looks set to reward investors over the long term.
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Source Fool.com
