Cardiovascular Systems (NSDQ:CSII) said yesterday that it’s planning to lay of 8% of its workforce even as it reported preliminary fiscal 3rd-quarter sales numbers that beat both its own forecast and the consensus expectation on Wall Street.
The company said it expects to post sales of $43.5 million to $44 million for the 3 months ended yesterday, roughly 4% to5% above its prior guidance of $40.5 million to $42 million and well ahead of The Street’s $41 million forecast.
St. Paul, Minn.-based CSI said the layoffs – and the departure early this month of former CEO David Martin due to a cancer diagnosis – will mean a $4.5 million charge during its 3rd quarter.
