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Thoratec Reports 34 Percent Increase in 2008 Revenues
Date:2/5/2009

PLEASANTON, Calif., Feb. 5 /PRNewswire-FirstCall/ -- Thoratec Corporation (Nasdaq: THOR), a world leader in device-based mechanical circulatory support therapies to save, support and restore failing hearts, today said that revenues for fiscal 2008 increased 34 percent over revenues in fiscal 2007.

For the year ended January 3, 2009, Thoratec reported revenues of $313.6 million compared with revenues of $234.8 million in fiscal 2007. Revenues for the fourth quarter of fiscal 2008 were $85.7 million, a 34 percent increase over revenues of $64.1 million in the same period a year ago.

Net income on a GAAP basis in fiscal 2008 was $22.5 million, or $0.39 per diluted share, versus GAAP net income of $3.2 million, or $0.06 per diluted share, in fiscal 2007. Non-GAAP net income, which is described later in this press release, was $36.9 million, or $0.61 per diluted share, in fiscal 2008 compared with $18.6 million, or $0.33 per diluted share, in fiscal 2007.

"This has been a truly extraordinary year for Thoratec, highlighted by the successful U.S. commercial launch of our HeartMate II(R) LVAS (Left Ventricular Assist System) for bridge-to-transplantation (BTT) and the resultant growth in revenues and earnings," noted Gary F. Burbach, president and chief executive officer.

"Our financial performance in 2008 was driven by an increase in Cardiovascular Division revenues of 49 percent year-over-year. We continue to see positive clinical results with the HeartMate II and better than expected adoption of the device by new centers. This demonstrates the effectiveness of our roll-out strategy designed to ensure that centers have the training and clinical support necessary to achieve successful patient outcomes."

The company said it added 12 new HeartMate II centers during the fourth quart
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SOURCE Thoratec Corporation
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