HeartWare issues weak revenue forecast
HeartWare International said Tuesday that its fourth-quarter revenue may fall short of market expectations.
The Framingham-based company said it expects quarterly revenue of $53 million and full-year revenue of $208 million. Analysts were anticipating $58 million for the quarter and $213 million for the year.
2013 is the first complete year of U.S. commercialization for the company’s Ventricular Assist System, which assists patients with advanced stage heart failure, according to CEO Doug Godshall.
Fourth-quarter revenue was split evenly between domestic and international sales, Godshall said, with October and December being noticeably stronger than November in the U.S.
HeartWare stock sank more than 9 percent in after-hours trading Tuesday, but as of Thursday morning has climbed back to $103.51, close to where the stock was trading prior to the announcement.
HeartWare has reported double-digit sales growth in recent years, thanks to the implantable heart pumps. The company will report its official results in late February.
(Image credit: freedigitalphotos.net)
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