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HeartWare International Reports Third Quarter Revenues of $7.5 Million
Date:11/4/2009

FRAMINGHAM, Mass. and SYDNEY, Nov. 4 /PRNewswire-FirstCall/ -- HeartWare International, Inc. (Nasdaq: HTWR; ASX: HIN), a leading innovator and provider of less invasive, miniaturized circulatory support technologies revolutionizing the treatment of advanced heart failure, today announced a significant increase in revenues to $7.5 million for the third quarter ended September 30, 2009. This compares to approximately $3.0 million in revenues in the second quarter ended June 30, 2009, and approximately $4.4 million in revenues for the six months ended June 30, 2009.

HeartWare President and Chief Executive Officer Doug Godshall said that both European selling efforts and U.S. trial progress are tracking well to date and he noted, "Physician feedback has been positive and consistently supportive as we commence the early phases of marketing our device in approved countries."

Total operating expenses for the 2009 third quarter were $6.8 million as compared to $8.7 million in the prior year comparative period. For the first nine months of 2009, total operating expenses were $21.7 million compared to $22.8 million in the equivalent 2008 period. The decreases are attributable to the re-allocation of production related costs to cost of revenues following the commencement of commercial sales and are also partially offset by expansion of commercialization activities in Europe following the receipt of CE Marking in January 2009, costs associated with the proposed Thoratec merger and the expansion of the Company's U.S. clinical trial.

Net loss for the 2009 third quarter was $5.9 million, or a $0.60 loss per basic and diluted share, compared to a $4.9 million net loss, or a loss of $0.57 per basic and diluted share, in the 2008 third quarter. For 2009 year to date, net loss was $19.0 million, or a loss of $2.07 per basic and dil
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SOURCE HeartWare International, Inc.
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