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

ent quality of life, as well as durability improvements to the percutaneous lead.

"At our International Technidyne Corporation (ITC) Division we will be working toward the introduction of a new ProTime system in the second half of the year that we believe will increase our presence in the growing market for physician office and patient home-based anticoagulation testing. In addition, we are developing a new consolidated platform to perform coagulation, blood gas, electrolytes and chemistry tests on one instrument for hospital point-of- care testing that will be introduced in late 2010. The final primary area of focus at ITC relates to a 483 Notice of Observation report issued by the FDA in January as a result of a recent inspection of our ITC facilities in New Jersey. The report detailed a significant number of observations relating to ITC's quality system. We have commenced implementation of a comprehensive plan to address these issues, and expect to meet with the FDA in the near future to present our plan," Burbach added.

FINANCIAL HIGHLIGHTS

Thoratec reported revenues of $313.6 million in 2008 versus revenues of $234.8 million in 2007. Full year revenues in fiscal 2008 were positively impacted by $9.0 million in HeartMate II stocking orders and a favorable foreign exchange impact of $2.2 million. Cardiovascular Division revenues were $215.0 million versus $144.2 million a year ago. Revenues at the company's International Technidyne Corporation (ITC) division were $98.6 million versus $90.6 million a year ago.

The company provided a breakdown of sales by product for 2008 versus 2007. The HeartMate product line, which includes the HeartMate II and XVE, accounted for $160.8 million in sales, a 75 percent increase over sales of $91.8 million in 2007. The Thoratec product line, which includes the PVAD and IVAD, accounted for sales of $41.7 million, a four percent
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SOURCE Thoratec Corporation
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