Cardiovascular Systems +25.46% Anticipates Q3 Revenues Above Issued Guidance

Destiny A. Lopez  |

Keeping our heart and circulatory system in working order is critical to our health and quality of life. Vascular diseases, disorders of the heart or blood vessels, can cause a variety of complications, such as varicose veins, blood clotting disorders, and aneurysms. The disease has even proven to be fatal with, According to UC San Francisco, vascular diseases claiming 950,000 each year. Cardiovascular Systems (CSII), a medtech company, is actively working to help doctors and patients overcome this disease.

Based in St. Paul, Minnesota, Cardiovascular Systems is dedicated to developing, manufacturing, and marketing devices to treat vascular diseases for U.S. patients.

Selling its products directly to hospitals and office-based labs, the company product categories, peripheral and coronary, house a number of arterial disease and catheter-based product solutions, including:

  • Stealth 360° Peripheral Orbital Atherectomy System
  • Diamondback 360 Peripheral Orbital Atherectomy System
  • Diamondback 360 Coronary Orbital Atherectomy System

Cardiovascular Systems is up 25.46% following the company’s recently reported Q3 preliminary revenue, which ended March 31, 2016.

The company anticipates revenues four percent to five percent above the high end of its previously issued guidance range of $40.5 million to $42 million. “As we discussed on our second-quarter earnings call, our immediate focus is to stabilize our sales force and resume sequential quarterly revenue growth,” said Scott Ward, Chairman and Interim President and CEO of Cardiovascular Systems. “We’ve made solid progress on these goals, resulting in revenues exceeding guidance for the third quarter of this fiscal year. We also discussed our longer term effort of positioning CSI for profitability and positive cash flow. The restructuring announced today is a significant step in achieving these goals.”

This is not the only good news to come from the company. In February, at the 2016 Cardiovascular Research Technologies Conference in Washington, D.C, the company held a late-breaking presentation, lead by Dr. Richard A. Shlofmitz of St. Francis Hospital in Roslyn, N.Y., of its 30-day results from its Coronary Orbital Atherectomy System Study. According to the company website, the study’s goal is to evaluate the safety and efficacy of the company’s next-generation Micro Crown orbital atherectomy technology in treating patients with severely calcified coronary lesions.

“Adequate modification of severely calcified plaque is an important step to achieve successful stent delivery and expansion,” said Shlofmitz. “The Diamondback 360° Coronary OAS Micro Crown is designed to engage tight lesions with distal sanding. The results from the COAST IDE Study resulted in 99 percent successful stent delivery and 85 percent freedom from 30-day MACE.”

With so many U.S. patients affected by vascular disease, there is certainly a need for effective treatment technologies. Cardiovascular Systems’ projected Q3 revenues not only confirms this need; but speaks to the effectiveness of their products. The investment community looks forward to the company’s official Q3 report.

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Companies

Symbol Name Price Change % Volume
CSII Cardiovascular Systems Inc. 43.99 -1.90 -4.14 570,603 Trade

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