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Thoratec Reports Third Quarter Fiscal 2011 Results
Date:11/1/2011

d PediMag®/PediVAS® on a worldwide basis.  Additionally, U.S. CentriMag sales grew close to 50 percent in the quarter compared to the same period a year ago. "We were pleased with the performance of our acute support product lines. The core U.S. CentriMag business continues to demonstrate robust growth, and the integration of Levitronix Medical is proceeding well."

FINANCIAL HIGHLIGHTS

Thoratec reported revenues of $102.6 million in the third quarter of 2011 versus revenues of $91.0 million in the third quarter of 2010, or an increase of 13 percent. Revenues from the HeartMate product line were $87.6 million, an increase of nine percent versus $80.6 million in the same period a year ago. Sales of the acute surgical support product line, which includes CentriMag and PediMag, were $7.2 million compared with $3.7 million a year ago. Of the $7.2 million in revenues this year, $1.6 million were incremental revenues recorded as a result of the Levitronix Medical transaction completed during the quarter. Sales of the Thoratec® product line, which includes the PVAD and IVAD, were $7.2 million, an increase of 16 percent over revenues of $6.2 million in the third quarter of 2010. Revenues from pump sales were $72.2 million versus $62.6 million in the third quarter a year ago, an increase of 15 percent. Non-pump revenues were $29.8 million in the third quarter of 2011 versus $27.9 million in the same period a year ago, an increase of seven percent. Revenues in the U.S. were $83.9 million versus $76.4 million in the same quarter a year ago, or an increase of 10 percent, while international revenues were $18.7 million versus $14.6 million a year ago, an increase of 28 percent. Foreign exchange fluctuation had a favorable effect of $1.5 million in the third quarter of 2011 versus the third quarter of 2010.

GAAP gross margin for the third quarter of 2011 was 69.9 percent versus 68.5 percent a year ago. Non-GAAP gross margin, which is descr
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SOURCE Thoratec Corporation
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