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Thoratec Reports First Quarter 2011 Results
Date:5/3/2011

e 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 month periods ending 2011 and 2010:THORATEC CORPORATIONCondensed Consolidated Statements of Continuing Operations(Unaudited)(in thousands, except for per share data) Three Months Ended April 2, 2011April 3, 2010Product sales$
99,530$
99,272Cost of product sales29,73531,571Gross profit69,79567,701Operating expenses:Selling, general and administrative24,65421,841Research and development15,75419,991Amortization of purchased intangible assets2,3022,412Total operating expenses42,71044,244Income from operations27,08523,457Other income and (expense):Interest expense(2,880)(2,880)Interest income and other7551,606Impairment on investment-(2,000)Income before income taxes24,96020,183Income tax expense (8,501)(6,819)Net income from continuing operations$
,459$
3,364Net income per share from continuing operationsBasic$
.28$
.23Diluted$
.27$
.23Shares used to compute net income per share from continuing operations:Basic57,93256,638Diluted65,88158,106The following table presents our quarterly revenues from continuing operations by source for the first quarter of fiscal 2011 and for the full year of fiscal 2010:

THORATEC CORPORATIONQuarterly Revenue Analysis from Continuing Operations(Unaudited)(in millions) Three Months Ended April 2, 2011January 1, 2011October 2, 2010July 3, 2010April 3, 2010Revenue by Product LineHeartMate

$
87.3$
83.9$
80.6$
82.5$
86.1PVAD & IVAD

7.37.26.27.38.8CentriMag

4.45.73.74.63.7Other

0.50.80.50.70.7Total

$
99
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SOURCE Thoratec Corporation
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