Thoratecs Q1 bolstered by HeartMate launch

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Thoratec, a developer of device-based mechanical circulatory support therapies for failing hearts, has reported the its revenues for the first fiscal quarter of 2010, which ended April 3, increased 36 percent versus the year-ago first quarter.

For the first quarter of 2010, revenues were $121.6 million compared with revenues of $89.5 million in the first quarter of 2009, the Pleasanton, Calif.-based company reported. Revenues in its cardiovascular division increased 54 percent in the first quarter of 2010 versus the same period a year ago.

According to Thoratec, its net income on a GAAP (generally accepted accounting principles) basis for the first quarter of 2010 was $12.4 million versus GAAP net income of $5.6 million the first quarter of 2009.

"Thoratec had an excellent start to 2010 as we initiated the commercial launch of our HeartMate II LVAS [left ventricular assist system] for destination therapy following the receipt of FDA approval of our premarket application supplement in January," noted Gary F. Burbach, president and CEO.