Cardiovascular Systems (CSII) Tops Q1 EPS by 7c

Cardiovascular Systems (NASDAQ: CSII) reported Q1 EPS of ($0.26), $0.07 better than the analyst estimate of ($0.33). Revenue for the quarter came in at $41.4 million versus the consensus estimate of $40.24 million.

David L. Martin, CSI’s President and Chief Executive Officer, said, “Our robust sales growth is driven by market expansion for treatment of both peripheral and coronary artery disease, as a growing number of physicians embrace our technology to solve their most difficult interventional vascular challenges —specifically calcified lesions. For this patient population, other treatment options have historically led to higher rates of adverse events and retreatment, resulting in higher costs.

“Our technology is uniquely positioned to treat this underserved population and we believe the market opportunity is extensive. It’s estimated that significant calcium is present in nearly 400,000 patients undergoing coronary procedures annually in the United States In addition, it’s estimated that nearly 3 million people in the U.S. have critical limb ischemia (CLI), a peripheral artery disease dominated by calcium, particularly in small vessels below the knee. Annual CLI endovascular interventions are currently less than 150,000; however, over 160,000 patients receive debilitating amputations. The ability of our technology to safely and effectively treat calcified artery disease, even in small tortuous vessels, is expanding the number of endovascular procedures performed, creating a multi-billion dollar market opportunity for CSI.”

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

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