Cardiovascular Systems Inc.

Cardiovascular Systems (NSDQ:CSII) posted second-quarter earnings this evening that beat the consensus forecast on Wall Street, but the company’s revenue missed the mark.

The St. Paul, Minn.–based vascular and coronary disease tech company reported a net loss of –$56,000, or 0¢ per share, on sales of $64.2 million for the three months ended Dec. 31, 2020 — versus a loss of $3.4 million, or –10¢ per share, on sales of $68.3 million for the same quarter a year ago.

Results were 6¢ ahead of The Street, where analysts were looking EPS of –6¢ on sales of $65.51 million.

“The surge in new COVID cases and increased ICU demand began negatively impacting our procedures during the final weeks of December and as a result our revenue finished slightly below the midpoint of our guidance range. Considering the unprecedented spike in hospital admissions, we are really pleased with these results and proud of our team’s focused support of our customers and pa…

Cardiovascular Systems (NSDQ:CSII) shares ticked up after hours today on fourth-quarter results that came in ahead of the consensus forecast.

The St. Paul, Minn.-based company posted losses of -$15.2 million, or -43¢ per share, on sales of $42.5 million for the three months ended June 30, 2020, for a bottom-line slide into the red on a sales decline of 37.6%.

Adjusted to exclude one-time items, earnings per share were also -43¢, 3¢ ahead of Wall Street, where analysts were looking for sales of $38.3 million.

“At the outset of the coronavirus pandemic, we established three near-term goals: to assure our continued ability to serve customers and support patients; to protect the health of employees while retaining the strength and capacity of our business; and to ensure business continuity,” Cardiovascular Systems president, chairman & CEO Scott Ward said in a news release. “We achieved each of these goals. In addition, we took actions to bui…

Cardiovascular Systems (NSDQ:CSII) announced today that underwriters fully exercised their option in an offering, leading to proceeds of $143.7 million.

Last week, the St. Paul, Minn.-based company commenced an underwritten public offering of common stock shares worth $125 million. The offering included a 30-day option to purchase up to an additional 15% of the shares being offered.

Today’s announcement shared that, in total, the company added 551,470 shares sold along with the nearly 3.7 million originally offered. The shares of common stock were sold to the public at $34 per share and the offering closed on June 12, two days after Cardiovascular Systems commenced it. The gross proceeds totaled approximately $143.7, before deducting underwriting discounts and commissions and offering expenses.

Cardiovascular Systems said it plans to use the proceeds for working capital and general corporate purposes, which may include the expansion of marketing pr…

Cardiovascular Systems (NSDQ:CSII) announced that it commenced an underwritten public offering of common stock shares worth $125 million.

In connection with the offering, Cardiovascular Systems (CSI) expects to grant underwriters a 30-day option to purchase up to an additional 15% of the shares being offered as well. All shares will be sold by CSI, according to a news release. There is no assurance as to whether or when the offering may be completed.

St. Paul, Minn.-based CSI said it plans to use the proceeds for working capital and general corporate purposes, which may include the expansion of marketing programs, international expansion, new product development, clinical studies and publications, investments, acquisitions or general working capital needs.

Barclays and SVB Leerink are acting as joint book-running managers for the offering from the vascular and coronary disease treatment developer.