PERFORMANCE DRIVEN BY SUCCESSFUL U.S. COMMERCIAL LAUNCH OF HEARTMATE II(R)
PLEASANTON, Calif., July 31 /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 the second quarter of 2008 increased 44 percent over revenues in the same period a year ago.
Revenues for the quarter ended June 28, 2008 were $82.6 million versus $57.3 million in the second quarter of 2007. Net income on a GAAP basis in the second quarter of fiscal 2008 was $8.7 million, or $0.15 per diluted share, compared with net income on a GAAP basis of $1.3 million, or $0.02 per diluted share, in the second quarter of 2007. Non-GAAP net income, which is described later in this press release, was $12.1 million, or $0.20 per diluted share, in the second quarter of 2008, compared with non-GAAP net income of $5.3 million, or $0.09 per diluted share, in the same period a year ago.
For the first six months of fiscal 2008, revenues were $147.1 million versus $114.6 million in the first six months a year ago, or an increase of 28 percent. On a GAAP basis, Thoratec reported net income of $9.0 million, or $0.16 per diluted share, versus net income of $1.0 million, or $0.02 per diluted share, a year ago. Non-GAAP net income for the first six months of fiscal 2008 was $16.7 million, or $0.28 per diluted share, compared with non- GAAP net income of $9.6 million, or $0.17 per diluted share, in the first six months of fiscal 2007.
"We were extremely pleased with our performance for the quarter, which
was driven by a 68 percent increase in sales at our Cardiovas
|SOURCE Thoratec Corporation|
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