Cardiovascular Systems Expects COVID-19 Impact On Quarterly Revenue

Cardiovascular Systems Inc CSII issued an update on financials citing the COVID-19 impact.
The device maker says that the revenue for Q1 FY22 could be negatively affected by more than 10% from the anticipated level.
The Company attributes the adverse impact to hospital capacity constraints due to increased hospitalizations in Florida and Texas caused by the COVID-19 Delta variant.
In addition to constraints on hospital capacity, the Company cites other factors, including disruption of referral patterns, deferral of elective procedures, and staffing shortages.
The impact of the factors is more pronounced because procedure volumes involving the Company’s products tend to be heavily weighted in September, relative to July and August.
The Company anticipated that it would experience a similar trend in fiscal 2022; however, in Q1, the negative impact due to the Delta variant was larger than expected.
Price Action: CSII stock is 1.73% lower at $34.12 during the market session on the last check Wednesday.