Thoratec Corp. (THOR) reported first-quarter net income of $18.2 million or $0.31 per share, compared to $25.5 million or $0.43 per share for the year-ago quarter.
Excluding items, adjusted net income for the fourth quarter was $24.0 million or $0.41 per share, compared to $30.6 million or $0.51 per share in the comparable quarter last year.
Revenues for the fourth quarter declined 7% to $117.73 million from $126.77 million a year ago.
On average, eighteen analysts polled by Thomson Reuters expected the company to earn $0.46 per share on revenue of $122.90 million for the first quarter. Analysts' estimates typically exclude special items.
Looking forward to fiscal year 2013, the company forecast revenue of $490 million to $510 million, earnings of $1.32 to $1.42 per share and adjusted earnings of of $1.76 to $1.86 per share. Analysts currently expect the company to earn $1.81 per share on revenue of $503.88 million for the full year 2013.
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