The 10-second takeaway
For the quarter ended March 31 (Q3), Cardiovascular Systems beat slightly on revenues and exceeded expectations on earnings per share.
Compared to the prior-year quarter, revenue grew significantly. GAAP loss per share grew.
Gross margins expanded, operating margins shrank, net margins dropped.
Cardiovascular Systems booked revenue of $26.5 million. The six analysts polled by S&P Capital IQ hoped for sales of $26.0 million on the same basis. GAAP reported sales were 25% higher than the prior-year quarter's $21.2 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at -$0.29. The six earnings estimates compiled by S&P Capital IQ averaged -$0.31 per share. GAAP EPS were -$0.29 for Q3 compared to -$0.23 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 76.4%, 60 basis points better than the prior-year quarter. Operating margin was -20.4%, 290 basis points worse than the prior-year quarter. Net margin was -23.5%, 370 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $27.1 million. On the bottom line, the average EPS estimate is -$0.29.
Next year's average estimate for revenue is $101.6 million. The average EPS estimate is -$1.11.
The stock has a two-star rating (out of five) at Motley Fool CAPS, with 11 members out of 16 rating the stock outperform, and five members rating it underperform. Among two CAPS All-Star picks (recommendations by the highest-ranked CAPS members), two give Cardiovascular Systems a green thumbs-up, and give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Cardiovascular Systems is buy, with an average price target of $22.10.
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