Thoratecs Q1 bolstered by HeartMate launch
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.
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.