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IN BRIEF / BIOTECHNOLOGY

Abiomed to Restate Revenue, Expenses

July 03, 2002|Bloomberg News

Abiomed Inc., maker of an experimental artificial heart, said it would restate its revenue and expenses for the fiscal year ended March 31 and certain earlier periods and delay the release of its annual report.

The restatement would change the period in which the revenue and expenses were incurred and would not change total revenue or related expenses, the company said in a notice filed with the Securities and Exchange Commission. Company officials declined to comment.

Shares of Danvers, Mass.-based Abiomed fell 52 cents to $7 on Nasdaq.

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