Thoratec® Reports Fourth Quarter 2013 Results

                Thoratec® Reports Fourth Quarter 2013 Results

- Revenue of $128.2 million for the fourth quarter of 2013

- GAAP net income per diluted share of $0.23, and non-GAAP net income per
diluted share of $0.38

- Company establishes 2014 guidance for revenue of $520 million to $535
million and net income per diluted share of $1.28-1.38 on a GAAP basis and
$1.72-1.82 on a non-GAAP basis

PR Newswire

PLEASANTON, Calif., Feb. 4, 2014

PLEASANTON, Calif., Feb. 4, 2014 /PRNewswire/ -- Thoratec Corporation (NASDAQ:
THOR), a world leader in device-based mechanical circulatory support (MCS)
therapies to save, support and restore failing hearts, today reported its
financial results for the fourth quarter of 2013.

"We were pleased with our financial performance for the fourth quarter and
full year, supported by robust growth in the worldwide market for mechanical
circulatory support therapy and our successful launch of HeartMate II in
Japan," said Gary F. Burbach, President and Chief Executive Officer. "Our
progress in 2013 in terms of product and market development positions Thoratec
well to continue advancing the field of MCS," he added.

For the quarter ended December 28, 2013, Thoratec reported revenues of $128.2
million compared with revenues of $128.5 million in the fourth quarter of
2012. Net income on a GAAP basis was $13.1 million, or $0.23 per diluted
share, compared with GAAP net loss of ($14.4) million, or ($0.25) per diluted
share, in the same period a year ago. Non-GAAP net income, which is described
later in this press release, was $22.1 million, or $0.38 per diluted share,
compared with non-GAAP net income of $22.6 million, or $0.38 per diluted
share, in the same period a year ago.

For the year ended December 28, 2013, revenues were $502.8 million, an
increase of two percent over revenues of $491.7 million in the same period a
year ago. Net income on a GAAP basis was $73.3 million, or $1.26 per diluted
share, compared with GAAP net income of $56.2 million, or $0.94 per diluted
share, in the same period a year ago. Non-GAAP net income was $104.9 million,
or $1.80 per diluted share, compared with non-GAAP net income of $109.2
million, or $1.83 per diluted share, in the same period a year ago.

"We expect 2014 will be an eventful year for Thoratec as we launch clinical
studies of next generation chronic LVAD technology with HeartMate III, and for
the percutaneous acute care market with HeartMate PHP," Burbach commented.
"Our 2014 guidance projects revenue growth for Thoratec that should create a
foundation for acceleration in future years as we realize the potential of our
exciting pipeline programs."

Fourth Quarter and Fiscal Year 2013 Financial Results

Thoratec reported revenues of $128.2 million in the fourth quarter of 2013.
The HeartMate product line contributed $113.0 million, an increase of two
percent, driven by expansion of our international business, while the
CentriMag product line contributed $11.0 million.

For the year ended December 28, 2013, Thoratec reported revenues of $502.8
million, an increase of two percent compared to the same period last year. The
HeartMate product line contributed $444.4 million to revenues, an increase of
two percent compared to the same period last year, while the CentriMag product
line contributed $43.3 million, an increase of 21 percent.

GAAP gross margin in the fourth quarter of 2013 was 63.7 percent compared to
30.6 percent in the same quarter last year. The increase in GAAP gross margin
was due primarily to an impairment of purchased intangible assets related to
the PVAD and IVAD ^ in 2012, offset by charges comprised of warranty expense
and inventory reserves related to the transition from the EP System Controller
to the Pocket Controller in 2013, as well as the impact of the U.S. medical
device excise tax. Non-GAAP gross margin, described later in this press
release, was 65.5 percent compared to 71.7 percent in the same quarter last
year. The decrease in the non-GAAP gross margin was primarily due to the
charges and implementation of the U.S. medical device excise tax noted above.

GAAP operating expenses in the fourth quarter of 2013 were $62.9 million
compared to $64.1 million in the same quarter last year. The decrease in GAAP
operating expenses was primarily due to higher project-related expenses and
incentive compensation in 2012, partially offset by an increase in
acquisition-related contingent consideration. Non-GAAP operating expenses,
described later in this press release, were $52.9 million compared to $57.6
million in the same quarter last year. The decrease in non-GAAP operating
expenses was primarily due to higher project-related expenses and incentive
compensation in 2012.

The company's GAAP effective tax rate for the quarter ended December 28, 2013
was 31.5 percent versus 41.6 percent a year ago. The decrease in the GAAP
effective tax rate was due primarily to lower taxable income in 2012 and the
federal research tax credit, which we recognized in 2013 but were unable to
recognize in 2012 due to the expiration of legislation. The non-GAAP tax
rate, which is described later in this press release, was 29.6 percent versus
35.2 percent in the same period last year.

Cash and investments were $310.0 million as of December 28, 2013, compared to
$283.0 million as of September 28, 2013, and $260.4 million as of December 29,
2012. The company repurchased $8.9 million of stock during the fourth quarter
of 2013.

GUIDANCE

The following statements are based on current expectations. These statements
are forward-looking and actual results may differ materially. For a more
detailed discussion of forward-looking statements, please see the additional
information below.

The company expects fiscal 2014 revenues in a range of $520 million to $535
million, including an impact from having fifty-three weeks in fiscal 2014
compared with fifty-two weeks during fiscal year 2013. Guidance for fiscal
2014 net income per diluted share is a range of $1.28 to $1.38 on a GAAP basis
and $1.72 to $1.82 on a non-GAAP basis. Gross margin is expected to be
approximately 70 percent on a GAAP basis and 71 percent on a non-GAAP basis.
We expect the effective tax rate to be approximately 32 percent on a GAAP
basis and non-GAAP basis.

CONFERENCE CALL/WEBCAST INFORMATION

Thoratec will hold a conference call to discuss its financial results and
operating activities for all interested parties at 1:30 p.m., Pacific Standard
Time (4:30 p.m., Eastern Standard Time), today. The teleconference can be
accessed by calling (913) 312-1456, passcode 1086255. Please dial in 10-15
minutes prior to the beginning of the call. The webcast will be available via
the Internet at http://www.thoratec.com. A replay of the conference call will
be available through Tuesday, February 11, via http://www.thoratec.com or by
telephone at (719) 457-0820, passcode 1086255.

GAAP TO NON-GAAP RECONCILIATION

Thoratec management evaluates and makes operating decisions using various
measures. These measures are generally based on revenues generated by the
company's products and certain costs of producing those revenues, such as
costs of product sales, research and development and selling, general and
administrative expenses. We use the following measures, which are not
calculated in accordance with Generally Accepted Accounting Principles
("GAAP"): non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating
expenses, non-GAAP tax rate, non-GAAP net income, non-GAAP net income per
diluted share and non-GAAP shares used to compute diluted net income per
share. These are non-GAAP financial measures under Section 101 of Regulation G
under the Securities Exchange Act of 1934, as amended. These non-GAAP
financial measures are calculated by excluding certain GAAP financial items
that we believe have less significance to the day-to-day operation of our
business. The company has outlined below the type and scope of these
exclusions and the limitations on the use of the non-GAAP financial measures
as a result of these exclusions.

Management uses these non-GAAP financial measures for financial and
operational decision making, including in the determination of employee annual
cash incentive compensation, as a means to evaluate period-to-period
comparisons, as well as comparisons to our competitors' operating results.
Management also uses this information internally for forecasting and
budgeting, as it believes that the measures are indicative of Thoratec core
operating results. Management also believes that non-GAAP financial measures
provide useful supplemental information to management and investors regarding
the performance of the company's business operations, provide a greater
transparency with respect to key metrics used by management in its decision
making, facilitate comparisons of results for current periods and guidance for
future periods with our historical operating results, and assist in analyzing
future trends.

Non-GAAP net income consists of GAAP net income, excluding, as applicable, the
tax effected impact of share-based compensation expense, the write-down and
amortization of purchased intangible assets, acquisition-related transaction
costs, acquisition-related contingent consideration adjustments, and
Levitronix Medical fair market value (FMV) inventory adjustments related to
the acquisition.

Non-GAAP net income per diluted share is defined as non-GAAP net income
divided by the weighted average number of shares on a fully-diluted basis.

Non-GAAP shares used to compute diluted net income per share consists of GAAP
shares used to compute diluted net income per share adjusted for any
exclusions made in conjunction with the application of the two-class method
for calculating net income per share.

Non-GAAP gross profit and gross margin consist of GAAP gross profit and gross
margin excluding share-based compensation expense, the write-down and
amortization of purchased intangible assets, and Levitronix Medical FMV
inventory adjustments related to the acquisition.

Non-GAAP operating expenses consist of GAAP operating expenses excluding
share-based compensation expense, amortization of purchased intangible assets,
acquisition-related transaction costs, and acquisition-related contingent
consideration adjustments.

Non-GAAP tax expense consists of the GAAP tax expense adjusted for the tax
effect of the adjustments from GAAP net income to non-GAAP net income.

Management believes that it is useful in measuring Thoratec's operations to
exclude the amortization of purchased intangible assets. These costs are
primarily fixed at the time of an acquisition and, unlike other fixed costs
that result from ordinary operations, are the result of infrequent and
irregular events.

Because of varying valuation methodologies, subjective assumptions and the
variety of award types that companies can use, Thoratec management believes
that providing non-GAAP financial measures that exclude share-based
compensation allow investors to compare Thoratec's recurring core business
operating results to those of other companies and over multiple periods. The
exclusion also enhances investors' ability to review Thoratec's business from
the same perspective as Thoratec management, which believes that share-based
compensation expense is not directly attributable to the underlying
performance of the company's business operations.

To enable investors to compare Thoratec's recurring core business operating
results to those of other companies and over multiple periods, Thoratec has
excluded Levitronix Medical FMV inventory adjustments related to the
acquisition as they are infrequent in nature.

There are a number of limitations related to the use of non-GAAP financial
measures. First, non-GAAP financial measures exclude some costs, namely
share-based compensation, that are recurring expenses. Second, share-based
compensation is part of an employee's compensation package and as such may be
useful for investors to consider. Third, the components of costs that we
exclude in our non-GAAP financial measures may differ from components that our
peer companies exclude when they report their results from operations.

Non-GAAP financial measures should not be considered as a substitute for
measures of financial performance in accordance with GAAP. However, these
measures may provide additional insight into Thoratec's financial results.
Investors and potential investors are strongly encouraged to review the
reconciliation of non-GAAP financial measures contained within this press
release with their most directly comparable GAAP financial results and not to
rely on any single financial measure to evaluate our business.

The reconciliations of the forward looking non-GAAP financial measures to the
most directly comparable GAAP financial measures in the tables below include
all information reasonably available to Thoratec at the date of this press
release. These tables include adjustments that we can reasonably predict.
Events that could cause the reconciliation to change include acquisitions and
divestitures of business, goodwill and other asset impairments and sales of
marketable equity securities.

The following table includes the GAAP Condensed Consolidated Statements of
Operations for the three and twelve month periods ended December 28, 2013 and
December 29, 2012:



THORATEC CORPORATION
Condensed Consolidated Statements of Operations
(Unaudited)
(in thousands, except for per share data)
                       Three Months Ended         Twelve Months Ended
                       December 28,   December 29,  December 28,  December 29,
                       2013           2012          2013          2012
Product sales          $        $        $        $     
                        128,173       128,458    502,821    491,654
Cost of product sales  46,521         38,966        163,552       150,037
Impairment of                         50,242                      50,242
intangible assets
Gross profit           81,652         39,250        339,269       291,375
Operating expenses:
Selling, general and   36,926         36,292        144,274       127,984
administrative
Research and           25,959         27,843        97,447        87,729
development
Total operating        62,885         64,135        241,721       215,713
expenses
Income (loss) from     18,767         (24,885)      97,548        75,662
operations
Other income and
(expense):
Interest expense       -              -             (4)           (3)
Interest income and    312            257           2,211         1,658
other
Income (loss) before   19,079         (24,628)      99,755        77,317
income taxes
Income tax expense     6,016          (10,242)      26,429        21,154
(benefit)
                       $        $        $        $     
Net income (loss)        13,063                            
                                      (14,386)      73,326       56,163
Net income (loss) per
share
                       $        $        $        $     
Basic                      0.23                        
                                      (0.25)        1.28         0.96
                       $        $        $        $     
Diluted                    0.23                        
                                      (0.25)        1.26         0.94
Shares used to
compute net income
per share:
Basic                  56,989         58,322        57,332        58,563
Diluted                57,940         58,322        58,324        59,580



The following table presents our quarterly and annual revenues by source for
fiscal 2012 and 2013:



THORATEC CORPORATION
Quarterly Revenue Analysis
(Unaudited)
(in millions)
              Three Months                                        Twelve
                                                                   Months
              Ended
                                                                   Ended
              March 31,   June 30,  September 29,     December     December
              2012        2012      2012              29, 2012     29, 2012
Revenue by
Product Line
              $       $      $          $       $     
HeartMate       111.7             105.9                   
                          106.2                       110.8       434.6
CentriMag (1) 8.7         8.0       7.5               11.5         35.7
PVAD & IVAD   5.8         3.8       3.8               5.6          19.0
Other         0.6         0.6       0.6               0.6          2.4
              $       $      $          $       $     
Total           126.8             117.8                   
                          118.6                       128.5       491.7
Revenue by
Category
              $       $      $          $       $     
Pump                              85.0                 
              92.6       85.7                        93.0        356.3
Non-Pump      33.6        32.3      32.2              34.9         133.0
Other         0.6         0.6       0.6               0.6          2.4
              $       $      $          $       $     
Total           126.8             117.8                   
                          118.6                       128.5       491.7
Revenue by
Geography
              $       $      $          $       $     
United States   103.9             97.5                  
                          97.1                        102.0       400.5
International 22.9        21.5      20.3              26.5         91.2
              $       $      $          $       $     
Total           126.8             117.8                   
                          118.6                       128.5       491.7
              Three Months                                        Twelve
                                                                   Months
              Ended
                                                                   Ended
              March 30,   June 29,  September 28,     December     December
              2013        2013      2013              28, 2013     28, 2013
Revenue by
Product Line
              $       $      $          $       $     
HeartMate       102.9             112.8                   
                          115.7                       113.0       444.4
CentriMag (1) 10.4        11.5      10.4              11.0         43.3
PVAD & IVAD   3.8         2.7       2.6               3.4          12.5
Other         0.6         0.6       0.6               0.8          2.6
              $       $      $          $       $     
Total           117.7             126.4                   
                          130.5                       128.2       502.8
Revenue by
Category
              $       $      $          $       $     
Pump                              87.1                 
              84.3       93.5                        90.4        355.3
Non-Pump      32.8        36.4      38.7              37.0         144.9
Other         0.6         0.6       0.6               0.8          2.6
              $       $      $          $       $     
Total           117.7             126.4                   
                          130.5                       128.2       502.8
Revenue by
Geography
              $       $      $          $       $     
United States                     99.6                 
              92.3       98.8                        99.8        390.5
International 25.4        31.7      26.8              28.4         112.3
              $       $      $          $       $     
Total           117.7             126.4                   
                          130.5                       128.2       502.8
(1) CentriMag includes PediMag/PediVAS® sales



The following table presents our quarterly and annual pump units by geography
for fiscal 2012 and 2013:



THORATEC CORPORATION
Quarterly Pump Units
(Unaudited)
                  Three Months                                     Twelve
                  Ended                                            Months
                                                                   Ended
Units by          March 31,  June 30,   September     December     December
Geography         2012       2012       29, 2012      29, 2012     29, 2012
United States     838        773        781           812          3,204
International     219        212        208           254          893
Total (1)         1,057      985        989           1,066        4,097
                  Three Months                                     Twelve
                  Ended                                           Months
                                                                   Ended
Units by          March 30,  June 29,   September     December     December
Geography         2013       2013       28, 2013      28, 2013     28, 2013
United States     716        770        737           758          2,981
International     219        287        250           262          1,018
Total (1)         935        1,057      987           1,020        3,999
(1) Excludes CentriMag and PediMag/PediVAS units



The following table reconciles the specific items excluded from GAAP net
income in the calculation of non-GAAP net income and diluted net income per
share for the periods shown below:



THORATEC CORPORATION
Reconciliation of GAAP to Non-GAAP Net Income
(Unaudited)
(in thousands, except for per share data)
                            Three Months Ended         Twelve Months Ended
Net income reconciliation   December 28,   December      December    December
                            2013           29, 2012      28, 2013    29, 2012
Net income (loss) on a      $         $        $       $    
GAAP basis                                                
                            13,063        (14,386)       73,326    56,163
Share-based compensation
expense:
- Cost of product sales     592            605           2,365       2,130
- Selling, general and      4,217          3,406         16,897      13,235
administrative
- Research and              1,962          1,649         7,735       6,327
development
Amortization of purchased
intangibles:
- Cost of product sales     1,717          2,070         6,855       8,279
- Selling, general and      758            697           2,999       2,486
administrative
- Research and              132            83            429         329
development
Acquisition-related
contingent consideration
adjustments:
- Selling, general and      2,019                        5,865
administrative
- Research and              782                          849
development
Intangibles impairment
charge related to PVAD      -              50,242        -           50,242
and IVAD
Levitronix Medical FMV      -              -             -           528
inventory adjustments
Acquisition related         85             705           2,050       705
transaction costs
Income tax effect of        (3,265)        (22,513)      (14,506)    (31,250)
non-GAAP adjustments
Net income on a non-GAAP    $         $        $       $    
basis                                                     
                            22,062        22,558       104,864    109,174
                            Three Months Ended         Twelve Months Ended
Diluted net income per      December 28,   December      December    December
share reconciliation        2013           29, 2012      28, 2013    29, 2012
                            $         $        $       $    
Diluted net income (loss)                               
per share on a GAAP basis    0.23         (0.25)                 
                                                         1.26       0.94
Share-based compensation
expense:
- Cost of product sales     0.01           0.01          0.04        0.03
- Selling, general and      0.07           0.06          0.29        0.22
administrative
- Research and              0.03           0.03          0.13        0.11
development
Amortization of purchased
intangibles
- Cost of product sales     0.03           0.04          0.12        0.14
- Selling, general and      0.01           0.01          0.05        0.04
administrative
- Research and              0.00           -             0.01        0.01
development
Acquisition-related
contingent consideration
adjustments:
- Selling, general and      0.04                         0.10
administrative
- Research and              0.02                         0.01
development
Intangibles impairment
charge related to PVAD      -              0.85          -           0.84
and IVAD
Levitronix Medical FMV      -              -             -           0.01
inventory adjustments
Acquisition related         -              0.01          0.04        0.01
transaction costs
Income tax effect of        (0.06)         (0.38)        (0.25)      (0.52)
non-GAAP adjustments
                            $         $        $       $    
Diluted net income per                                  
share on a non-GAAP basis    0.38         0.38                  
                                                         1.80       1.83
                            Three Months Ended         Twelve Months Ended
                            December 28,   December      December    December
                            2013           29, 2012      28, 2013    29, 2012
Shares used to compute
diluted net income per
share reconciliation
Shares used in
calculation of diluted      57,940         58,322        58,324      59,580
net income per share --
GAAP
Dilutive effect of share
based compensation plans
added back for Non-GAAP     -              1,044         -           -
diluted EPS purpose for
three months ended
December 29, 2012 (1)
Weighted average unvested
restricted stock awards     -              -             -           13
(2)
Shares used in
calculation of diluted      57,940         59,366        58,324      59,593
net income per share --
Non-GAAP
(1) The anti-dilutive effect of share based compensation plans was excluded
in the calculation of net income per share on a GAAP basis for the three month
ended December 29, 2012.The effect of share based compensation plans are
dilutive for the twelve months ended December 29, 2012 and three and twelve
months ended December 28, 2013, therefore areincluded in the shares used to
compute their respective diluted net income per share
(2) The company adopted the two-class method in calculating net income per
share on a GAAP basis, which excludes the weighted average unvested restricted
stock awards outstanding of 12,693 for the twelve months ended December 29,
2012



The following table reconciles the specific items excluded from GAAP gross
profit and gross margin in the calculation of non-GAAP gross profit and gross
margin for the periods shown below:



THORATEC CORPORATION
Reconciliation of GAAP to Non-GAAP Gross Profit
(Unaudited)
(in thousands)
              Three Months Ended             Twelve Months Ended
              December        December         December        December
              28, 2013        29, 2012         28, 2013        29, 2012
Gross profit  $           $            $           $    
on a GAAP          63.7%      30.6%       67.5%      59.3%
basis                                                     291,375
              81,652         39,250          339,269
Share-based
compensation  592             605              2,365           2,130
expense
Amortization
of            1,717           2,070            6,855           8,279
intangibles
Intangibles
impairment    -               50,242           -               50,242
related to
PVAD and IVAD
Levitronix
Medical FMV   -               -                -               528
inventory
adjustments
Gross profit  $           $            $           $    
on a non-GAAP      65.5%      71.7%       69.3%      71.7%
basis                                                     352,554
              83,961         92,167          348,489



The following table reconciles the specific items excluded from GAAP operating
expenses in the calculation of non-GAAP operating expenses for the periods
shown below:



THORATEC CORPORATION
Reconciliation of GAAP to Non-GAAP Operating Expenses
(Unaudited)
(in thousands)
                          Three Months Ended        Twelve Months Ended
                          December 28,  December 29,  December     December
                          2013          2012          28, 2013     29, 2012
Operating expenses on a  $        $        $       $     
GAAP basis                                           
                          62,885       64,135       241,721     215,713
Share-based compensation
expense:
- Selling, general and    (4,217)       (3,406)       (16,897)     (13,235)
administrative
- Research and            (1,962)       (1,649)       (7,735)      (6,327)
development
Amortization of
purchased intangibles:
- Selling, general and    (758)         (697)         (2,999)      (2,486)
administrative
- Research and            (132)         (83)          (429)        (329)
development
Acquisition-related contingent
consideration adjustments:
- Selling, general and    (2,019)                     (5,865)
administrative
- Research and            (782)                       (849)
development
Acquisition-related       (85)          (705)         (2,050)      (705)
transaction costs
Operating expenses on a  $        $        $       $     
non-GAAP basis                                       
                          52,930       57,595       204,897     192,631



The following table reconciles the GAAP tax expense for the adjustments from
GAAP net income to non-GAAP net income:



THORATEC CORPORATION
Reconciliation of GAAP to Non-GAAP Tax Expense
(Unaudited)
(in thousands)
                    Three Months Ended            Twelve Months Ended
                    December       December         December       December
                    28, 2013       29, 2012         28, 2013       29, 2012
Tax expense         $           $            $           $   
(benefit) on a GAAP      31.5%      41.6%       26.5%      27.4%
basis                                                        
                     6,016       (10,242)        26,429        21,154
Share-based
compensation        2,198          2,394            10,895         8,666
expense
Amortization of
purchased           917            898              3,618          3,929
intangibles
Intangibles
impairment related                 19,269                          19,269
to PVAD and IVAD
Acquisition-related
contingent          801            -                1,009          -
consideration
adjustments
Excess compensation
limitations and     (683)          (218)            (1,803)        (995)
other
Levitronix Medical
FMV inventory                      (100)                           111
adjustments
Acquisition related 32             270              787            270
transaction costs
                    $           $            $           $   
Tax expense on a         29.6%      35.2%       28.1%      32.4%
Non-GAAP basis                                              
                     9,281       12,271          40,935        52,404



The following table reconciles the net income per diluted share guidance on a
tax-effected GAAP basis and non-GAAP basis for the periods shown below:



THORATEC CORPORATION
Reconciliation of GAAP to Non-GAAP Forward-Looking Guidance
(Unaudited)
(in thousands, except for per share data)
                                                      For the Fiscal
Gross margin                                          Year Ended
                                                      2014
Gross margin on a GAAP basis                          70.0%
Amortization of purchased intangibles                 0.7%
Share-based compensation expense                      0.3%
Gross margin on a non-GAAP basis                      71.0%
Net income per diluted share            For the Fiscal Year Ended 2014
reconciliation
                                        From                          To
Net income per diluted share on a GAAP  $                       $   
basis                                   1.28                          1.38
Acquisition-related contingent          0.02                          0.02
consideration adjustments
Share-based compensation expense        0.32                          0.32
Amortization of purchased intangibles   0.09                          0.09
Tax rate effect on non-GAAP earnings    0.01                          0.01
Net income per diluted share on a       $                       $   
non-GAAP basis                          1.72                          1.82
Shares used in calculation of net
income per diluted share - GAAP and     57,900                        57,900
Non-GAAP



About Thoratec

Thoratec is the world leader in mechanical circulatory support with the
broadest product portfolio to treat the full range of clinical needs for
patients suffering from advanced heart failure. The company's products include
the HeartMate LVAS and Thoratec VAD, with more than 20,000 devices implanted
in patients suffering from heart failure. Thoratec also manufactures and
markets the CentriMag and PediMag / PediVAS product lines. Thoratec is
headquartered in Pleasanton, California. For more information, visit
www.thoratec.com.

Thoratec, the Thoratec logo, HeartMate and HeartMate II are registered
trademarks of Thoratec Corporation and HeartMate III, HeartMate PHP, PVAD,
IVAD and Pocket Controller are trademarks of Thoratec Corporation. CentriMag
and PediMag are registered trademarks of Thoratec LLC, and PediVAS is a
registered trademark of Thoratec Switzerland GmbH.

DuraHeart is a registered trademark of Terumo Corporation.

Many of the preceding paragraphs, particularly but not exclusively those
addressing guidance for fiscal 2014 financial results or future performance
contain forward-looking statements within the meaning of Sections 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.
These statements can be identified by the words, "believes," "views,"
"expects," "plans," "projects," "should," "hopes," "could," "will,"
"estimates," and other similar words. Actual results, events or performance
could differ materially from these forward-looking statements based on a
variety of factors, many of which are beyond Thoratec's control. Therefore,
readers are cautioned not to put undue reliance on these statements. Investors
are cautioned that all such statements involve risks and uncertainties,
including risks related to regulatory approvals, the development of new
products, including development and clinical trial timing, and new markets
including Destination Therapy, the growth of existing markets for our
products, customer and physician acceptance of Thoratec products, changes in
the mix of existing markets for our products and related gross margin for such
product sales, the ability to improve financial performance, the effects of
FDA regulatory requirements, our ability to address quality issues adequately
and on a timely basis without a resulting recall of products or interruption
of manufacturing or shipment of products, the effects of healthcare
reimbursement and coverage policies, the effects of seasonality on Thoratec
product sales, the effects of competition and the effects of any merger,
acquisition and divestiture related activities. Forward-looking statements
contained in this press release should be considered in light these factors
and those factors discussed from time to time in Thoratec's public reports
filed with the Securities and Exchange Commission, such as those discussed
under the heading, "Risk Factors," in Thoratec's most recent annual report on
Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K and
other SEC filings. These forward-looking statements speak only as of the date
hereof. Thoratec undertakes no obligation to publicly release the results of
any revisions to these forward-looking statements that may be made to reflect
events or circumstances after the date hereof, or to reflect the occurrence of
unanticipated events.

SOURCE Thoratec Corporation

Website: http://www.thoratec.com
Contact: Neil Meyer, Director of Investor Relations, Thoratec Corporation,
(925) 738-0029
 
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