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

pared with revenues of $214.1 million in 2006. Cardiovascular Division revenues were $144.2 million versus $133.7 million a year ago. Revenues at ITC were $90.6 million versus $80.4 million a year ago.

GAAP gross margin for 2007 was 58.0 percent versus 58.6 percent a year ago. Non-GAAP gross margin, which excludes SFAS No. 123R expense and is described later in this press release, was 58.7 percent versus 59.1 percent a year ago. The year-over-year decrease in gross margin is primarily due to the reserve for the ProTime(R) recall, and unfavorable non-pump product mix, offset by favorable foreign exchange rates.

Operating expenses for 2007 and 2006 on a GAAP basis were $138.5 million and $127.2 million, respectively. On a non-GAAP basis, operating expenses in 2007 were $116.1 million compared with $104.1 million in 2006. Operating expenses on a non-GAAP basis are described later in this press release. The year-over-year increase in operating expenses is primarily due to product development expense, market development initiatives, expenses from the stock option review conducted in the first quarter of 2007 and corporate activities, such as Sarbanes Oxley consulting.

The company's GAAP effective tax rate for 2007 was 38 percent benefit versus a 58 percent tax benefit in 2006. The non-GAAP tax rate for the full year, which is described later in this press release, was 29 percent versus 23 percent in the prior year.

On a non-GAAP basis the company's convertible debt was dilutive to the company's fully diluted weighted average shares outstanding for the full year. The increase in shares of approximately 7.3 million was partially offset in non-GAAP diluted Earnings per Share by the add back of interest expense related to the debt resulting in a reduction in EPS of $0.01.

GUIDANCE FOR FISCAL 2008

The following statements are based on current expectations. These statements are forward-looking and actual results may differ materially.
'/>"/>

SOURCE Thoratec Corporation
Copyright©2008 PR Newswire.
All rights reserved

Page: 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16

Related biology technology :

1. Thoratec Presentation at JP Morgan Conference to be Webcast
2. Thoratec Announces Appointment of Steven H. Collis to Board of Directors
3. Thoratec Presentation at Bear Stearns Conference To Be Webcast
4. Thoratec Announces HeartMate II(R) PMA Will be Reviewed by FDA Advisory Panel
5. Rochester Medical Reports 31% Increase in Branded Sales Resulting in 9% Overall Sales Growth for the First Quarter
6. Wyeth Reports Earnings Results for the 2007 Fourth Quarter and Full Year
7. CuraGen Reports Fourth Quarter and Year End 2007 Financial Results
8. Covance Reports Full-Year 2007 Revenue Growth Of 15.4% and Seventh Consecutive Year of EPS Growth in Excess of 20%
9. Phosphagenics Reports Superior Pre-clinical Cholesterol Results from APA-01 and Atorvastatin Combination
10. Viventia Biotech to Explore Strategic Alternatives - Reports Positive Pivotal Phase III Interim Efficacy Data
11. Millennium Biotechnologies Group Reports 40% Sales Increase for Resurgex Product Line in Greek Market
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:7/10/2014)... Understanding the need for better quality and ... gap that currently exists in this area, ChanTest has ... of validated ion channel and GPCR cell lines. ... ion channels control many critical physiological functions throughout the ... potential to treat a variety of human diseases. ...
(Date:7/10/2014)... (PRWEB) July 10, 2014 OMICS Group’s ... techniques during 18-20 August, 2014 at Double Tree by ... the recent developments in Analytical & Bioanalytical research methods ... , Speaking on this occasion, Dr. Srinubabu Gedela, MD ... Acta conference is a remarkable one in bringing a ...
(Date:7/10/2014)... , July 10, 2014 On ... Dmitry Medvedev , presented Russia,s ... BIOCAD . The Company is developing a unique project ... project BIOCAD develops a number of innovative drugs based ... diseases. The ceremony took place at the International Exhibition ...
(Date:7/10/2014)... 10, 2014   Ceres, Inc . (Nasdaq: ... announced today financial results for the three months ended ... business. Ceres reported that the company and ... this growing season in Brazil, which concluded in June, ... sorghum evaluation areas for part of the growing season. ...
Breaking Biology Technology:Leader in Ion Channel Research Announces Newly Validated and Re-Engineered Cells 2Leader in Ion Channel Research Announces Newly Validated and Re-Engineered Cells 3A Critical Review of Analytical Techniques for Improved Living Standards 2A Critical Review of Analytical Techniques for Improved Living Standards 3A Critical Review of Analytical Techniques for Improved Living Standards 4Dmitry Medvedev Presented BIOCAD the First National "Industry" Award 2Ceres Announces Fiscal Third Quarter 2014 Financial Results 2Ceres Announces Fiscal Third Quarter 2014 Financial Results 3Ceres Announces Fiscal Third Quarter 2014 Financial Results 4Ceres Announces Fiscal Third Quarter 2014 Financial Results 5Ceres Announces Fiscal Third Quarter 2014 Financial Results 6Ceres Announces Fiscal Third Quarter 2014 Financial Results 7Ceres Announces Fiscal Third Quarter 2014 Financial Results 8Ceres Announces Fiscal Third Quarter 2014 Financial Results 9
... 21, 2011  Palatin Technologies, Inc. (NYSE Amex: PTN ... Annual BIO Investor Forum on Wednesday, October 26, 2011 at ... (BIO), the 10th Annual BIO Investor Forum will take place ... Carl Spana, Ph.D., President and Chief Executive ...
... at Emory University have solved an important mystery about the ... The findings, published in the journal Science , ... the known rules, a problem that has baffled physical chemists ... pre-reactive, long-range force can align the reaction of a chorine ...
... Oct. 20, 2011 BioStorage Technologies, Inc. a ... storage and cold chain logistics for the bioscience ... Symposium at the International Contract Services Expo (ICSE), ... The symposium will include two ...
Cached Biology Technology:Chemists find new dimension to rules for reactions 2Chemists find new dimension to rules for reactions 3BioStorage Technologies to Host Global Sample Management Benchmarking Symposium at International Contract Services Expo 2
(Date:7/10/2014)... SPRINGS, Colo. , June 27, 2014 /PRNewswire/ ... that the National Institute of Standards and Technology ... 10 of its academic research and forensic science ... (FSSB).  The Board is an element of the ... AAFS members are among the first appointments made ...
(Date:7/10/2014)... , July 2, 2014  Unisys Corporation,s (NYSE: ... , Unisys Nederland N.V., today announced that it has been ... implement and manage a new Basic Provision Biometrics solution for ... Unisys won the contract with a solution based on ... software. The term of the contract is up to seven ...
(Date:7/10/2014)... , July 3, 2014 Research and ... of the "Global Gesture Recognition & Touch-Less ... Forecasts to 2020" report to their offering ... Global Gesture Recognition & Touch-Less Sensing Market to ... for a while, but the companies were unable ...
Breaking Biology News(10 mins):Ten Members of the American Academy of Forensic Sciences Appointed to Forensic Science Standards Board (FSSB) 2Ten Members of the American Academy of Forensic Sciences Appointed to Forensic Science Standards Board (FSSB) 3Unisys Delivers New Basic Provision Biometrics Solution to Dutch Custodial Institutions Service 2Unisys Delivers New Basic Provision Biometrics Solution to Dutch Custodial Institutions Service 3Global Gesture Recognition & Touch-Less Sensing (2D, 3D, Ultrasonic, IR, Capacitive) Market - Forecasts to 2020 2
... PORTLAND, Ore. February 1, 2011. Fact: ... the temperature of the nest: warm nests produce females, cooler ... planet for about 220 million years, scientists now report that ... are working to understand how global warming may affect turtle ...
... S.C. The furry-looking insects start their development smaller ... soon develop an appetite for cotton as big as ... Clemson University entomologist Jeremy Greene planted two cotton varieties ... one not in a demonstration field at the ...
... HOUSTON -- (Feb. 1, 2011) -- Rice University ... Texas Children,s Hospital have successfully destroyed tumors of human ... a minimally invasive treatment that zaps glioma tumors with ... designed to destroy tumors with heat and avoid the ...
Cached Biology News:Turtle populations affected by climate, habitat loss and overexploitation 2Technology protects cotton from caterpillar's appetite 2Early tests find nanoshell therapy effective against brain cancer 2
... nature of proteomics demands the detection of ... performance of the AXIMA-CFRplus with improved resolution ... ppm) provides increased confidence in protein identification. ... enhanced sensitivity, automated sample target handling and ...
...
... MALDI O-TOF creates a new category for ... platform that has been licensed to the ... Manitoba. , As the first single MALDI-TOF ... collisional cooling, the prOTOF 2000 represents a ...
Rat Dermal Fibroblasts (RDF) (>500,000 cells)...
Biology Products: