Thoratec (THOR) Prelim. Q2 Revenue Tops Expectations

Thoratec (NASDAQ: THOR) announced preliminary unaudited revenue in the range of $128 million to $129 million for the second quarter of 2015.

*** The Street was looking for revenue of $115.5 million.

"Our strong second quarter performance resulted from a broad increase in utilization of our products globally, driven in particular by favorable trends in our North American HeartMate franchise," said D. Keith Grossman, President and Chief Executive Officer. "We continued to make progress with our commercial initiatives and clinical trials, and we are pleased to see a positive impact from these efforts," he added.

In a separate announcement today, Thoratec disclosed that it has entered into an agreement and plan of merger with St. Jude Medical pursuant to which St. Jude Medical would acquire all of the outstanding shares of Thoratec's common stock.

Thoratec will release financial results for the second quarter on Tuesday, August 4. The company will hold a conference call to discuss its financial results and operating activities, open to all interested parties, at 1:30 p.m., Pacific Daylight Time (4:30 p.m., Eastern Daylight Time), Tuesday, August 4. However, due to the pending transaction with St. Jude Medical, the company will not be hosting a question and answer session during the second quarter conference call.

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