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HeartWare International Reports Fourth Quarter 2012 Revenue Of $32.7 Million; Full Year 2012 Revenue Of $110.9 Million
Date:2/27/2013

FRAMINGHAM, Mass. and SYDNEY, Feb. 27, 2013 /PRNewswire/ -- HeartWare International, Inc. (NASDAQ: HTWR - ASX: HIN), a leading innovator of less invasive, miniaturized circulatory support technologies that are revolutionizing the treatment of advanced heart failure, today announced revenue of $32.7 million for the fourth quarter ended December 31, 2012, a 42% increase compared to $23.1 million in revenue for the same period of 2011.  For the fiscal year 2012, the Company generated revenue of $110.9 million, a 34% increase compared to revenue of $82.8 million in the fiscal year 2011. 

"Our results for the fourth quarter reflect positive initial trends in the commercial launch of the HeartWare® Ventricular Assist System in the U.S., following approval from the Food and Drug Administration (FDA) on November 20, 2012, and continued strong support from our international customers," explained Doug Godshall , President and Chief Executive Officer.  "Today, more than 3,000 advanced heart failure patients globally have received the HeartWare® System."

During the fourth quarter of 2012, revenue from international markets increased approximately 31% to $19.3 million, from $14.7 million in the fourth quarter of 2011.  U.S. revenue, which reflects FDA approval late in the year, was $13.4 million in the fourth quarter of 2012, an increase of 60% from $8.4 million in the fourth quarter of 2011.  Currency fluctuations decreased revenue by 1 percent in the fourth quarter compared to the same period in 2011.

For the year ended December 31, 2012, revenue increased approximately 34% to $110.9 million, compared to $82.8 million in 2011, supported by 53% commercial revenue growth internationally.  Currency fluctuations decreased revenue
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SOURCE HeartWare International, Inc.
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