Cardiovascular Systems, Inc.CSII reported adjusted earnings per share of 2 cents in fourth-quarter fiscal 2017, reflecting massive improvement from the year-ago quarter’s adjusted loss of 15 cents a share. The quarter’s number compared favorably with the Zacks Consensus Estimate of a loss of 5 cents.
The year-over-year improvement was primarily backed by revenue growth and lower operating expenses on account of the company’s cost realignment actions.
Full-year adjusted earnings came in at a loss of 6 cents per share, narrower than the year-ago loss of $1.72. Also, the loss figure was 53.8% narrower than the Zacks Consensus Estimate of a loss of 13 cents.
The Numbers in Details
Cardiovascular Systems posted revenues of $52.9 million in the fiscal fourth quarter, marking a year-over-year increase of 9.2%. The figure also surpassed the Zacks Consensus Estimate of $52 million.
Cardiovascular Systems, Inc. Price, Consensus and EPS Surprise
Fiscal 2017 registered revenues of $204.91 million, up 14.9% from the year-ago number. Also, revenues outpaced the Zacks Consensus Estimate of $204.03 million.
Per management, the company received approvals for the new orbital atherectomy devices that give physicians more tools to effectively and routinely treat patients suffering from coronary and peripheral artery disease. Also, the approval of Diamondback 360 Coronary Orbital Atherectomy System Micro Crown in Japan marks the company’s first international expansion, beginning in calendar year 2018.
To date, Cardiovascular Systems sold over 324,000 devices to leading institutions across the U.S. The company added 43 new peripheral accounts and 39 coronary accounts in the fiscal fourth quarter. Coronary device revenues improved 15.3% year over year to $13.2 million and peripheral device revenues rose 7.3% to $39.8 million.
Gross margin in the reported…