This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Thoratec's CEO Discusses Q3 2011 Results - Earnings Call Transcript

Revenues from the HeartMate product line in the quarter were $87.6 million versus $80.6 million a year ago for an increase of 9%. Revenues from our acute surgical support line which includes CentriMag and PediMag were $7.2 million compared with $3.7 million a year ago. This strong performance include a growth in the core US CentriMag business of close to 50% as well as $1.6 million of incremental revenues recorded as a result of the Levitronix Medical transaction completed during the quarter.

Revenues from the Thoratec product line, the PVAD and IVAD were $7.2 million versus $6.2 million a year ago or an increase of 16%.

We experienced solid year-over-year unit growth in the quarter selling 853 pumps, an increase of 11% versus 766 pumps in the third quarter a year ago. In terms of pump shipments by geography, we shipped 665 pumps in the United States, an increase of 10% over 605 pumps a year ago and 188 internationally, an increase of 17% versus 161 a year ago.

Within the US, HeartMate II drove year-over-year unit growth with the large majority of growth continuing to come from the centers that adopted HeartMate II following the clinical trial.

On a sequential basis, all groups of centers in the US experienced a similar seasonal patterns with respect to HeartMate II volume.

As for Destination Therapy, just over 40% of our US HeartMate II implants during the third quarter were for the DT indication in line with the second quarter. In International markets, the PVAD franchise was the primary catalyst of year-over-year unit growth with the HeartMate II up modestly.

With respect to new center development, we added six HeartMate II centers in the US and two internationally during the quarter, bringing the total number of HeartMate II centers in the US to 141 and 139 internationally. This compares to 130 and 124 respectively at the end of 2010, and we believe we are on track to meet or exceed our previously stated 2011 target for new centre additions.

3 of 4

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,987.51 -61.49 -0.36%
S&P 500 1,985.54 -11.91 -0.60%
NASDAQ 4,567.5980 -24.2080 -0.53%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs