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(unaudited)Three Months EndedJune 30, Six Months EndedJune 30, 2011201020112010Revenues, net
$ 20,389$ 9,757$
38,364$
20,460Cost of revenues7,9134,29315,5099,974Gross profit12,4765,46422,85510,486Operating expenses:Selling, general and administrative9,8927,68918,55612,244Research and development10,2807,51119,58012,267Total operating expenses20,17215,20038,13624,511Loss from operations(7,696)(9,736)(15,281)(14,025)Other income (expense), net(2,400)(246)(4,246)(501)Net loss$
(10,096)$ (9,982)$ (19,527)$ (14,526)Net loss per common share — basic and diluted
$
(0.73)$
(0.73)$
(1.40)$
(1.09)Weighted average shares outstanding — basic and diluted
13,923,25813,682,73413,911,99313,322,531HEARTWARE INTERNATIONAL, INC.CONDENSED CONSOLIDATED BALANCE SHEETS(in thousands)
(unaudited)June 30, 2011December 31, 2010ASSETSCurrent assets:Cash and cash equivalents
$
8,844$
92,148Short-term investments, net
79,99821,330Accounts receivable, net
15,24819,053Inventories, net
22,52215,077Prepaid expenses and other current assets
4,6592,406Total current assets
241,271250,014Property, plant and equipment, net
11,1307,484Long-term investments, net
—4,006Other assets, net
6,1256,073Total assets
$
258,526$
267,577LIABILITIES AND STOCKHOLDERS' EQUITYCurrent liabilities:Accounts payable
$
3,336$
3,890Accrued expenses and other current liabilities
8,3317,001Total current liabilities
11,66710,891Convertible senior notes, net
91,51988,922Stockholders' equity
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