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Thoratec Reports Third Quarter Results
Date:11/1/2012

PLEASANTON, Calif., Nov. 1, 2012 /PRNewswire/ -- Thoratec Corporation (NASDAQ: THOR), a world leader in device-based mechanical circulatory support therapies to save, support and restore failing hearts, today reported its financial results for the third quarter of 2012.

"Thoratec delivered excellent results during the third quarter, demonstrating continued momentum in the global VAD market as well as HeartMate II's strong competitive position," said Gary F. Burbach, President and Chief Executive Officer. "HeartMate II unit volume expanded by 27% during the third quarter and 23% for the first nine months of the year, driven by the U.S. Destination Therapy indication and healthy underlying trends in international markets," he added.

For the quarter ended September 29, 2012, Thoratec reported revenues of $117.8 million, a 15 percent increase over revenues of $102.6 million in the third quarter of 2011. Net income on a GAAP basis was $24.3 million, or $0.41 per diluted share, compared with GAAP net income of $19.0 million, or $0.31 per diluted share, in the same period a year ago. Non-GAAP net income, which is described later in this press release, was $29.2 million, or $0.49 per diluted share, compared with non-GAAP net income of $25.1 million, or $0.41 per diluted share, in the same period a year ago.

For the first nine months of fiscal 2012, revenues were $363.2 million, an increase of 16 percent over revenues of $313.3 million in the same period a year ago. Net income on a GAAP basis was $70.6 million, or $1.18 per diluted share, compared with GAAP net income of $57.2 million, or $0.95 per diluted share, in the same period a year ago. Non-GAAP net income was $86.6 million, or $1.45 per diluted share, compared with non-GAAP net income of $74.3 million, or $1.18 per diluted share, in the same period a year ago.

"I am highly encouraged by the outlook for the
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SOURCE Thoratec Corporation
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