HeartWare takes another hit despite Q4, 2015 beats

HeartWare International (NSDQ:HTWR) shares took another hit today despite 4th-quarter results that topped expectations on Wall Street, as investors reacted to lower-than-expected sales volume overseas. Fourth-quarter losses grew 1.1% to $-926,000, or -5¢ per share, for Framingham, Mass.-based HeartWare, which makes implantable heart pumps. Sales were off -7.0% to $68.1 million, compared with Q4 2014. Adjusted to exclude 1-time items, earnings per share were -53¢, a full 21¢ ahead of The Street, where analysts were looking for sales of $67.9 million. Full-year losses surged 275.8% to -$72.8 million, or -$4.21 per share, compared with 2014. Sales were down -0.6% to $276.8 million, but adjusted EPS came in 13¢ ahead of the consensus forecast at -$2.89. “We made substantial progress in expanding our commercial footprint in the past year, adding 55 new hospital centers globally. With a presence in 47 countries, and more than 300 commercial centers, we have an established network of customers from which to grow our business well into the future,” president & CEO Doug Godshall said in prepared remarks. “In 2015, we initiated enrollment in Lateral, our clinical trial to evaluate the thoracotomy implant technique, and we are working toward enrollment completion of this 145-patient study; we presented results from our first [destination therapy] clinical trial, Endurance, in which our HVAD system achieved the primary endpoint, and soon after, completed enro...
Source: Mass Device - Category: Medical Equipment Authors: Tags: Cardiac Assist Devices Cardiovascular MassDevice Earnings Roundup Wall Street Beat HeartWare International Inc. Source Type: news