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Abiomed posts record Q1 sales, earnings, shares slide anyway

Thu, 08/02/2012 - 3:26pm
Mass Device

Abiomed's 1st-quarter sales and profit numbers fail to wow on Wall Street today.

Abiomed

Wall Street once again proved a fickle friend to Abiomed (NSDQ:ABMD), which posted record sales and earnings numbers for its fiscal 1st quarter today but still saw shares slide by nearly 2%.

Unimpressed, investors on The Street sent ABMD shares down 1.6% to $22.61 as of about 3 p.m. today, leaving at least 1 analyst baffled.

Abiomed posted profits of $3.1 million, or 8¢ per share, on sales of $38.8 million for the 3 months ended June 30, for top-line gains of 41.8% and a swing from red to black ink, compared with Q2 2011.

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