3rd quarter fiscal year 2019 financial updates: Cardiovascular Systems, Inc. (NASDAQ: CSII)


Posted By - Marcia Kelsey

On Tuesday Cardiovascular Systems, Inc. (NASDAQ: CSII) has shown upward move of +0.07% and ended the last trade at $42.90. The trading volume was recorded to 150,061 shares as compared to average traded volume of 292,688 shares.

Cardiovascular Systems, Inc. (NASDAQ: CSII), recently stated financial results for its fiscal third quarter, ended March 31, 2019.

CSI’s third-quarter revenues were $63.3M, a raise of $7.7M, or 13.9%, from the third quarter of fiscal 2018. Gross profit margin remained healthy at 80.8%.

Selling, general and administrative expenses increased 9.4% to $41.4M Because of increased investments to support international expansion. Research and development expenses increased 26.6% to $9.3M as a result of planned new product development and patient enrollment costs in the ECLIPSE clinical trial.

Third-quarter net income was $0.7M, or $0.02 per basic and diluted share, contrast favorably to net income of $0.4M, or $0.01 per basic and diluted share, in the prior-year period. Adjusted EBITDA totaled $4.1M.

For fiscal 2019 ending June 30, 2019, CSI anticipates:

  • Revenue of $245M to $247M, representing 13% to 14% growth contrast to fiscal 2018;
  • Gross profit as a percentage of revenues of 80%-81%;
  • Net loss equal to 0.5% of revenue to breakeven; and
  • Positive Adjusted EBITDA.