FRAMINGHAM, Mass. and SYDNEY, Jan. 7, 2013 /PRNewswire/ -- HeartWare International, Inc. (NASDAQ: HTWR - ASX: HIN), a leading innovator of less invasive, miniaturized circulatory support technologies that are revolutionizing the treatment of advanced heart failure, today announced that it expects total revenues for the fourth quarter of 2012 will be approximately $32 million, bringing expected full-year 2012 revenues to approximately $110 million.
"These results reflect positive initial trends in the commercial launch of the HeartWare ® Ventricular Assist System in the U.S., as approximately 40 percent of fourth quarter revenues were derived from domestic sales," explained Doug Godshall, President and Chief Executive Officer. "In addition, we remain optimistic about long-term global market growth prospects and HeartWare's role in stimulating that growth. This sentiment is bolstered by our observed revenue growth of approximately 40 percent in the fourth quarter over the fourth quarter of 2011, and approximately 33 percent growth in full-year 2012 revenues over 2011."
These preliminary results are being provided in conjunction with the Company's presentation to the investment community today at the 31 st Annual J.P. Morgan Healthcare Conference. HeartWare's presentation commences at 10:30 a.m. Pacific Standard Time ( 1:30 p.m. EST) at the Westin St. Francis Hotel in San Francisco. A live webcast of the Company's presentation at the conference will be available via a link provided at www.heartware.com. A replay of the webcast will be available for 90 days at the site after the presentation.
The financial estimates presented above are preliminary and remain subject to management's final review as well as audit by the Company's independent registered accounting firm. The Company intends to report complete fourth quarter and full-year 2012 financial results in late February. Details regarding the timing of the release of those results, as well as details of a conference call and publicly available webcast, will be announced in a subsequent news release.
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