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Thoratec Reports a 19 Percent Increase in Annual Revenues as Cardiovascular Division Revenues Increase 30 Percent in 2009
Date:1/28/2010

ourth quarter and full year 2009. The increase in dilutive shares was approximately 7.3 million shares.

Cash and investments at the end of the year were $330.2 million, an increase of $51.7 million from the end of 2008. The cash and investment balance includes $24.6 million of Auction Rate Securities classified as long-term investments.

GUIDANCE FOR FISCAL 2010

The following statements are based on current expectations. These statements are forward-looking and actual results may differ materially. For a more detailed discussion of forward-looking statements, please see additional information below.

The company expects to see solid growth in 2010, with consolidated revenues expected to be in the range of $420 to $430 million.

Worldwide growth in the Cardiovascular Division is expected to be 15 to 20 percent, with the HeartMate product line expected to grow at a mid-twenties percentage rate and the combination of the Thoratec and CentriMag product lines are expected to decline at a mid-single digit percentage rate from 2009.  The growth in the HeartMate product line reflects the expected positive reception in the market for DT approval and the positive outcomes generated in the trial. Continued adoption of the new HeartMate external peripherals will also be an important growth driver, although not as significantly as in 2009.  ITC revenues are expected to be flat to low single digit percentage growth, with the launch of the next generation ProTime around mid-year.

Gross margins on a non-GAAP basis are expected to be in the range of 61 to 62 percent, reflecting the market expansion of HeartMate II and the benefit of the continuing adoption of our new external peripherals. GAAP gross margin is expected to be in the range of 60.5 percent and 61.5 percent.


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SOURCE Thoratec Corporation
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