Thoratec Corp. (NASDAQ:THOR) delivered a profit and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
Thoratec Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 19.61% to $0.41 in the quarter versus EPS of $0.51 in the year-earlier quarter.
Revenue: Decreased 7.13% to $117.73 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Thoratec Corp. reported adjusted EPS income of $0.41 per share. By that measure, the company missed the mean analyst estimate of $0.46. It missed the average revenue estimate of $122.9 million.
Quoting Management: “Although we faced some expected challenges in the first quarter, our team is responding well to our near-term priorities while also staying focused on key longer-term growth drivers, giving us confidence in Thoratec’s outlook for 2013 and beyond,” said Gary Burbach, President and Chief Executive Officer.
Key Stats (on next page)…