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HeartWare International Reports Third Quarter 2010 Revenues of $13.8 Million; Compared to $7.5 Million in Third Quarter of 2009

orm 10-Q, or other current reports, as filed with the Securities and Exchange Commission.For further information:Christopher TaylorHeartWare International, Inc.Email: ctaylor@heartwareinc.comPhone: +1 508 739 0864- Tables to Follow-HEARTWARE INTERNATIONAL, INC.CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS(in thousands except share and per share data)(unaudited)Three Months Ended September 30, Nine Months Ended September 30, 2010200920102009Revenues, net$
,952Cost of revenues6,0034,10415,9766,401Gross profit7,8143,40318,3015,551Operating expenses:Selling, general and administrative6,9933,14919,23811,721Research and development9,3133,64621,5809,994Total operating expenses16,3066,79540,81821,715Loss from operations(8,492)(3,392)(22,517)(16,164)Other income (expense), net648(2,482)147(2,834)Net loss$
(5,874)$  (22,370)$   (18,998)Net loss per common share - basic and diluted$
(2.07)Weighted average shares outstanding - basic and diluted13,752,8299,715,57713,467,5409,156,074HEARTWARE INTERNATIONAL, INC.CONDENSED CONSOLIDATED BALANCE SHEETS(in thousands)

(unaudited)September 30,
2010December 31,
2009ASSETSCurrent assets:Cash and cash equivalents $
50,835Short-term investments, net21,495--Accounts receivable, net8,29011,385Inventories, net17,2198,871Prepaid expenses and other current assets2,2651,663Total current assets116,76772,754Property, plant and equipment, net6,8423,719Other intangible assets, net1,4861,192Long-term investments, net4,008—Restricted cash288288Total assets$
77,953LIABILITIES AND STOCKHOLDERS' EQUITYCurrent liabilities:Accounts payable$
3,122Accrued expenses and other current liabilities7,0893,848Total current liabilities10,2326,970Commitments and contingenciesStockholders' equity119,15970,983Total liabilities and stockholders' equ

SOURCE HeartWare International, Inc.
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