HeartWare International Announces Preliminary Fourth Quarter 2012 Revenues
FRAMINGHAM, Mass. and SYDNEY, Jan. 7, 2013
FRAMINGHAM, Mass. and SYDNEY, Jan. 7, 2013 /PRNewswire/ --HeartWare
International, Inc. (NASDAQ: HTWR - ASX: HIN), a leading innovator of less
invasive, miniaturized circulatory support technologies that are
revolutionizing the treatment of advanced heart failure, today announced that
it expects total revenues for the fourth quarter of 2012 will be approximately
$32 million, bringing expected full-year 2012 revenues to approximately $110
"These results reflect positive initial trends in the commercial launch of the
HeartWare^® Ventricular Assist System in the U.S., as approximately 40 percent
of fourth quarter revenues were derived from domestic sales," explained Doug
Godshall, President and Chief Executive Officer. "In addition, we remain
optimistic about long-term global market growth prospects and HeartWare's role
in stimulating that growth. This sentiment is bolstered by our observed
revenue growth of approximately 40 percent in the fourth quarter over the
fourth quarter of 2011, and approximately 33 percent growth in full-year 2012
revenues over 2011."
These preliminary results are being provided in conjunction with the Company's
presentation to the investment community today at the 31^st Annual J.P. Morgan
Healthcare Conference. HeartWare's presentation commences at 10:30 a.m.
Pacific Standard Time (1:30 p.m. EST) at the Westin St. Francis Hotel in San
Francisco. A live webcast of the Company's presentation at the conference
will be available via a link provided at www.heartware.com. A replay of the
webcast will be available for 90 days at the site after the presentation.
The financial estimates presented above are preliminary and remain subject to
management's final review as well as audit by the Company's independent
registered accounting firm. The Company intends to report complete fourth
quarter and full-year 2012 financial results in late February. Details
regarding the timing of the release of those results, as well as details of a
conference call and publicly available webcast, will be announced in a
subsequent news release.
About HeartWare International
HeartWare International develops and manufactures miniaturized implantable
heart pumps, or ventricular assist devices, to treat Class IIIB / IV patients
suffering from advanced heart failure. The HeartWare^® Ventricular Assist
System features the HVAD^® pump, a small full-support circulatory assist
device designed to be implanted next to the heart, avoiding the abdominal
surgery generally required to implant competing devices. The HeartWare System
is approved in the United States for the intended use as a bridge to cardiac
transplantation in patients who are at risk of death from refractory end-stage
left ventricular heart failure, has received CE Marking in the European Union
and has been used to treat patients in 27 international countries. The device
is also currently the subject of a U.S. clinical trial for destination
therapy. For additional information, please visit the Company's website at
HeartWare International, Inc. is a member of the Russell 2000^® and its
securities are publicly traded on The NASDAQ Stock Market and the Australian
HEARTWARE, HVAD, MVAD and HeartWare logos are registered trademarks of
This announcement contains forward-looking statements that are based on
management's beliefs, assumptions and expectations and on information
currently available to management. All statements that address operating
performance, events or developments that we expect or anticipate will occur in
the future are forward-looking statements, including without limitation our
expectations with respect to the progress of clinical trials and post-approval
studies, regulatory approvals, research and development activities and
commercialization strategies. Management believes that these forward-looking
statements are reasonable as and when made. However, you should not place
undue reliance on forward-looking statements because they speak only as of the
date when made. HeartWare does not assume any obligation to publicly update
or revise any forward-looking statements, whether as a result of new
information, future events or otherwise. HeartWare may not actually achieve
the plans, projections or expectations disclosed in forward-looking
statements, and actual results, developments or events could differ materially
from those disclosed in the forward-looking statements. Forward-looking
statements are subject to a number of risks and uncertainties, including
without limitation those described in Part I, Item 1A. "Risk Factors" in our
Annual Report on Form 10-K filed with the Securities and Exchange Commission.
We may update our risk factors from time to time in Part II, Item 1A "Risk
Factors" in our Quarterly Reports on Form 10-Q, Current Reports on Form 8-K,
or other filings with the Securities and Exchange Commission.
For further information:
HeartWare International, Inc.
Phone: +1 508 739 0864
SOURCE HeartWare International, Inc.
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