Thoratec Reports 14 Percent Growth in Cardiovascular Division Sales as Third Quarter Revenues Increase Ni... ( PLEASANTON Calif. Nov. 4 /- Thoratec ...)

Thoratec Reports 14 Percent Growth in Cardiovascular Division Sales as Third Quarter Revenues Increase Nine Percent

Date:11/4/2009

PLEASANTON, Calif., Nov. 4 /PRNewswire-FirstCall/ -- Thoratec Corporation (Nasdaq: THOR), a world leader in device-based mechanical circulatory support therapies to save, support and restore failing hearts, said today that revenues for the third quarter of fiscal 2009 were $87.9 million, an increase of nine percent over revenues of $80.8 million in the third quarter a year ago. The results for the quarter reflect a 14 percent increase in revenues from the company's Cardiovascular Division versus the same period a year ago.

Net income on a GAAP basis for the quarter ended October 3, 2009, was $11.8 million, or $0.20 per diluted share, compared with net income on a GAAP basis of $6.1 million, or $0.11 per diluted share, in the third quarter a year ago. Non-GAAP net income, which is described later in this press release, was $13.9 million, or $0.22 per diluted share, versus non-GAAP net income of $10.5 million, or $0.17 per diluted share, in the third quarter of 2008.

For the first nine months of fiscal 2009, revenues were $269.4 million, an increase of 18 percent versus revenues of $227.9 million in the first nine months of 2008. On a GAAP basis, Thoratec reported net income of $19.2 million, or $0.33 per diluted share, versus net income of $13.0 million, or $0.23 per diluted share, in the same period a year ago. Non-GAAP net income for the first nine months of 2009 was $39.0 million, or $0.62 per diluted share, compared with non-GAAP net income of $27.1 million, or $0.45 per diluted share, in the first nine months of 2008.

"We continued to see robust growth in our Cardiovascular Division--where year-to-date revenues are up nearly 30 percent--with continued strong adoption of our HeartMate® II LVAS (Left Ventricular Assist System) for Bridge-to-Transplantation (BTT) in both North America and Europe and ongoing en
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SOURCE Thoratec Corporation
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Thoratec Reports 14 Percent Growth in Cardiovascular Division Sales as Third Quarter Revenues Increase Ni...( PLEASANTON Calif. Nov. 4 /- Thoratec ...),Health