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Thoratec Reports 10 Percent Increase in Fiscal 2007 Revenues; Fourth Quarter Revenues Largest in Company History
Date:2/5/2008

PLEASANTON, Calif., Feb. 5 /PRNewswire-FirstCall/ -- Thoratec Corporation (Nasdaq: THOR), a world leader in products to treat cardiovascular disease, today reported results for the fourth quarter and twelve months of fiscal 2007.

For the fiscal year ended December 29, 2007, Thoratec Corporation reported revenues of $234.8 million, an increase of 10 percent over revenues of $214.1 million in fiscal 2006. Revenues for the fourth quarter of fiscal 2007 were $64.1 million, a nine percent increase over revenues of $58.8 million in the same period a year ago.

Net income on a GAAP basis in fiscal 2007 was $3.2 million, or $0.06 per diluted share, compared with net income of $4.0 million, or $0.07 per diluted share, for the fiscal year ended 2006. Non-GAAP net income, which is described later in this press release, for the fiscal year ended 2007 was $18.6 million, or $0.33 per diluted share, versus $20.4 million, or $0.37 per diluted share, for the same period a year ago.

For the fourth quarter of fiscal 2007, net income on a GAAP basis was $3.7 million, or $0.07 per diluted share, compared with net income on a GAAP basis of $3.1 million, or $0.06 per diluted share, in the same period a year ago. Non-GAAP net income was $6.6 million, or $0.11 per diluted share, versus non-GAAP net income of $7.2 million, or $0.13 per diluted share, the same period a year ago.

"We concluded 2007 on a very strong note, particularly in our Cardiovascular Division, where quarterly revenues grew 11 percent year-over-year. This growth primarily reflects the continued adoption of the HeartMate II(R) LVAS (Left Ventricular Assist System) in both Europe and through our U.S. clinical program. In addition, fourth quarter revenues at our Internati
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SOURCE Thoratec Corporation
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