THOR nice one also. Looking for increased revenue. Already trading above its 20 day moving average all indicators are bullish and THOR is under accumulation.
Thoratec Laboratories Expects 40% Revenue Growth in 2001, to $42 to $44 Million, and 100% Growth in Earnings; Provides Update on Thermo Cardiosystems Transaction
PLEASANTON, Calif., Jan. 16 /PRNewswire/ -- Thoratec Laboratories Corporation (Nasdaq: THOR - news), said today that based on growing demand for the Thoratec® Ventricular Assist Device (VAD) System and recent approval to begin marketing its Vectra(TM) vascular access graft in the U.S., the company expects its stand alone fiscal 2001 revenues will be between $42 million and $44 million, a roughly 40 percent growth rate over the prior year, and that earnings per share will be $0.21-$0.24, or double the prior year, without regard to taxes and certain one-time charges.
``The market for mechanical assist devices, and the Thoratec VAD System in particular, continues to be very strong -- both here and abroad -- and our device is now being used by more than 165 centers in the U.S. and Europe. In addition, we have received very positive initial market response to our Vectra graft, which recently received U.S. approval. We are also hopeful that our TLC-II® portable VAD driver will receive FDA approval in the very near future,'' said D. Keith Grossman, president and chief executive officer.
Last week, Thoratec announced that revenues for the fourth quarter of fiscal 2000 were a record $9.4 million and a record $30.4 million for all of fiscal 2000, growth of 31 percent and 35 percent, respectively, and that the company expects to report fourth quarter earnings per share of $0.05-$0.06, before taxes and one-time costs related to its proposed merger with Thermo Cardiosystems Inc. (AMEX: TCA - news). The company is now updating this information to an earnings estimate of $0.06 to $0.07 per share, before the same taxes and one-time expenses. The company will report complete financial results for the fourth quarter and all of fiscal 2000 on January 22. |
