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Thoratec Reports 40 Percent Increase in Third Quarter Revenues From Continuing Operations

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 nine month periods ending 2010 and 2009:THORATEC CORPORATION
Condensed Consolidated Statements of Operations
(in thousands, except for per share data) Three Months Ended Nine Months Ended October 2,
2010October 3,
2009October 2,
2010October 3,
2009Product sales$
98,965Cost of product sales28,62119,97690,77167,027Gross profit62,37545,138194,595131,938Operating expenses:Selling, general and administrative21,10418,28364,01062,625Research and development12,33210,60544,13531,705Amortization of purchased intangible assets2,4462,3597,3267,441Total operating expenses35,88231,247115,471101,771Income from operations26,49313,89179,12430,167Other income and (expense):Interest expense(3,125)(3,261)(9,280)(9,167)Interest income and other1,3627,0604,2619,304Impairment on strategic investment(11)-(2,057)-Income before income taxes24,71917,69072,04830,304Income tax expense (9,239)(5,914)(25,667)(9,472)Net income from continuing operations15,48011,77646,38120,832Net (loss) from discontinued operations (net of tax)(1,183)1(3,697)(1,595)Net Income$
9,237Net income (loss) per share - Basic:Continuing operations$0.26$0.21$0.80$0.37Discontinued operations($0.02)$0.00(0.06)($0.03)Net Income$
.34Net income (loss) per share - Diluted:Continuing operations$0.26$0.20$0.78$0.36Discontinued operations($0.02)$0.00($0.06)($0.03)Net Income$

SOURCE Thoratec Corporation
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