This Day On The Street
Continue to site
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

Thoratec's CEO Discusses Q1 2012 Results - Earnings Call Transcript

Revenues from our acute support line, which includes CentriMag and PediMag were $8.7 million compared with $4.4 million a year-ago, an increase of over 90%. We’re certainly pleased with the continued momentum in this product line, which include a growth in the core U.S. CentriMag business of 34% as well as approximately $2.7 million of incremental revenues recorded as a result of the Levitronix Medical transaction, over 90% of which were generate outside the U.S.

Lastly, revenues from the Thoratec product line, the PVAD and IVAD were 5.8 million versus 7.3 million a year ago, a decrease of 21%. We recorded strong year-over-year unit growth in the quarter selling 1,057 pumps, an increase of 23% versus 859 pumps in the first quarter a year ago. In the U.S. market, we shipped 838 pumps representing a 24% year-over-year increase, while internationally pump volume increased 20% in the first quarter of 2012 to 219 units. HeartMate unit volume expanded by 32% in both the U.S. and international markets, offsetting a significant decline in PVAD and IVAD units.

Internationally HeartMate II showed particular strength in both France and Germany, while in the U.S. we achieved strong growth in both the bridge-to-transplant and destination therapy indications. We have seen encouraging development of the referral process facilitated by our market development efforts in conjunction with the outreach efforts of many of our implanting centers, and we’re seeing clear evidence that our D.C. market development strategy is bearing fruit.

Going forward we will continue to focus our investment on this large and sustainable growth opportunity. An important growth driver during the quarter was the continued adoption of HeartMate II by our Group III implanting centers, which consists of smaller transplant and open heart centers. While we achieved HeartMate II unit growth in excess of 20% across each major group of centers. The most rapid growth continues to come from this third group, where volume roughly doubled year-over-year. This group now include 19 transplant centers and 48 open heart centers and during the first quarter contributed close to 20% of our U.S. HeartMate II unit sales.

3 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,812.19 +19.51 0.11%
S&P 500 2,089.14 +2.55 0.12%
NASDAQ 5,102.8080 +0.33 0.01%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs