HeartWare Q1 Revenue Up 47%
Framingham-based HeartWare International Inc., which makes implantable heart pumps and circulatory support technologies to treat heart patients, announced revenue of $26.3 million for the first quarter of 2012, a 47-percent increase from $18 million for the same period in 2011.
The jump was partially attributed to strong international markets which accounted for 75 percent of the company's first-quarter revenues, according to President and CEO Doug Godshall.
In the U.S., the recent recommendation of the U.S. Food and Drug Administration's (FDA) Circulatory System Devices Advisory Committee for the company's HeartWare Ventricular Assist System is a significant step forward in the U.S. approval process, Godshell said.
The company's net loss for the quarter was $18.8 million, or a $1.33 per basic and diluted share, compared to a $9.4-million net loss, or a 68 cent per share, in the first quarter of 2011.
WBJ Web Partners
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