Thoratec Earnings: Here’s Why Investors are Happy Now
Thoratec Corp. (NASDAQ:THOR) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 8.63%.
Thoratec Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 15.56% to $0.52 in the quarter versus EPS of $0.45 in the year-earlier quarter.
Revenue: Rose 9.98% to $130.5 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Thoratec Corp. reported adjusted EPS income of $0.52 per share. By that measure, the company beat the mean analyst estimate of $0.43. It beat the average revenue estimate of $121.32 million.
Quoting Management: “Thoratec delivered strong results during the second quarter, supported by our leadership positions with HeartMate II® and CentriMag®, as well as our intense focus on driving continued growth in the global MCS market,” said Gary F. Burbach, President and Chief Executive Officer. “HeartMate II unit volume increased by nine percent on a global basis, highlighted by sequential growth in the U.S. market and robust growth internationally, driven in part by our successful initial launch in Japan,” he added.
Key Stats (on next page)…
Revenue decreased 0% from $0 in the previous quarter. EPS increased 26.83% from $0.41 in the previous quarter.
Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.44 to a profit $0.43. For the current year, the average estimate has moved down from a profit of $1.81 to a profit of $1.75 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)