The reconciliations of the forward looking non-GAAP financial measures to the most directly comparable GAAP financial measures in the tables below include all information reasonably available to Thoratec at the date of this press release. These tables include adjustments that we can reasonably predict. Events that could cause the reconciliation to change include acquisitions and divestitures of business, goodwill and other asset impairments and sales of marketable equity securities.
The following table includes the GAAP income statement for continuing operations for the three and twelve month periods ending 2010 and 2009:THORATEC CORPORATIONCondensed Consolidated Statements of Continuing Operations(Unaudited)(in thousands, except for per share data) Three Months Ended Twelve Months Ended January 1, 2011January 2, 2010January 1, 2011January 2, 2010Product sales$
279,968Cost of product sales32,93828,528123,70995,555Gross profit64,66952,475259,264184,413Operating expenses:Selling, general and administrative25,21219,45489,22282,079Research and development14,69611,03858,83142,743Amortization of purchased intangible assets2,4462,3939,7729,834Total operating expenses42,35432,885157,825134,656Income from operations22,31519,590101,43949,757Other income and (expense):Interest expense(3,047)(3,140)(12,327)(12,307)Interest income and other1,174(4,158)5,4355,146Impairment on strategic investment57-(2,000)-Income before income taxes20,49912,29292,54742,596Income tax expense (7,875)(4,219)(33,542)(13,691)Net income from continuing operations$
28,905Net income per share from continuing operationsBasic$
.50Shares used to compute net income per shar
|SOURCE Thoratec Corporation|
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