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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

Non-GAAP operating income, excluding the one-time $8.5 million charge for the Percutaneous Heart Pump (PHP) acquired earlier this week, is expected to increase 20 to 25 percent over the prior year while GAAP operating income excluding the one-time PHP charge is expected to increase 59 percent to 67 percent for the same period.  This growth in operating income incorporates the significant investments being made to drive near and long term growth including additions to the sales organization, marketing initiatives related to the launch of the HeartMate II for DT and continuing investment in innovation related to the HeartMate II platform, cross platform technologies and next generation pumps, along with the incremental investment in the PHP program .

Non-GAAP net income per diluted share is expected to be in the range of $0.96 to $1.01 and GAAP net income per diluted share is expected to be in the range of $0.68 to $0.72.  The one-time expense from the PHP technology acquisition is expected to impact net income per diluted share by approximately $0.09 on both a non-GAAP and GAAP basis in 2010.  Excluding the acquisition fee, non-GAAP net income per diluted share is expected to be between $1.05 and $1.10 and between $0.77 and $0.81 on a GAAP basis.

CONFERENCE CALL/WEBCAST INFORMATION

Thoratec will hold a conference call to discuss its financial results and operating activities for all interested parties at 1:30 p.m., Pacific Standard Time (4:30 p.m., Eastern Standard Time) today. The teleconference can be accessed by calling (719) 325-2456, passcode 6302456. Please dial in 10-15 minutes prior to the beginning of the call. The webcast will be available via the Inter
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SOURCE Thoratec Corporation
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