Cardiovascular Systems (CSII) Tops Q4 EPS by 3c

Cardiovascular Systems (NASDAQ: CSII) reported Q4 EPS of ($0.14), $0.03 better than the analyst estimate of ($0.17). Revenue for the quarter came in at $71 million versus the consensus estimate of $68.82 million.

Scott Ward, Chairman, President and CEO

“Strong execution with the addition of new customers and deeper penetration of high volume cath labs combined with a decline in COVID cases across the nation allowed CSI to drive higher atherectomy volumes throughout the fourth quarter. As a result, we achieved double-digit sequential revenue growth in both our U.S. Peripheral and Coronary franchises.

“Our U.S. peripheral franchise delivered strong performance with a solid rebound in our hospital business and continued momentum in office-based labs. Revenue and units sold in both sites of service increased at double-digit rates sequentially compared to third quarter.

“The U.S. coronary franchise had another strong quarter with sequential growth of 12% driven by new customers and increased penetration of high-volume labs that focus on the treatment of complex coronary artery disease.

“Despite the continued impact of COVID-19, international revenue was stronger than expected at $3.7 million, with continued momentum in Japan and Europe.

“The sustained improvement in the state of the U.S. healthcare system combined with new product introductions and planned international expansion position CSI to forecast revenue growth of $295 million to $305 million in fiscal 22, representing growth of 14% to 18% compared to fiscal 21 revenue of $259 million.”

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

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