Cardiovascular Systems (CSII) Tops Q4 EPS by 3c

Cardiovascular Systems (NASDAQ: CSII) reported Q4 EPS of ($0.27), $0.03 better than the analyst estimate of ($0.30). Revenue for the quarter came in at $48.5 million versus the consensus estimate of $50.1 million.

David L. Martin, CSI’s President and Chief Executive Officer, said, “Significant progress continued on our sales optimization plan in the fourth quarter. Cross training of our sales force to sell both peripheral and coronary products advanced with over 140 representatives now trained. Productivity goals were also achieved per representative, further validating that our dual application sales approach will provide attractive growth and lead to profitability in the future. The related sales force expansion, however, fell short of our targets, resulting in an average of approximately nine open positions during the quarter. As a consequence, revenue was slightly below our expectations. We have taken actions to reach our planned sales force level by the end of the fiscal 2016 first quarter and beyond.”

For earnings history and earnings-related data on Cardiovascular Systems (CSII) click here.

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