UPDATE 1-Thoratec Q3 profit tops Street, raises FY09 EPS view
* Q3 adj EPS $0.22 vs est $0.19
* Revenue $87.9 mln vs est $88.4 mln
* Raises FY09 adj EPS to $0.80-$0.84 from $0.76-$0.81
* Tightens FY09 rev view to $360 mln-$365 mln
* Shares up 6 pct in after market trade
Nov 4 (Reuters) - Cardiac-device maker Thoratec Corp (THOR.O) posted a better-than-expected quarterly profit, helped by improved gross margins, and raised its 2009 earnings view, sending its shares up 6 percent in after-market trade.
For the third quarter, net income was $11.8 million, or 20 cents a share, compared with $6.1 million, or 11 cents a share, a year ago.
Excluding items, the company earned 22 cents a share.
Analysts on average were expecting 19 cents a share, before items, according to Thomson Reuters I/B/E/S.
Revenue rose 9 percent to $87.9 million, but fell short of market expectations of $88.4 million.
Cardiovascular division revenue jumped 14 percent to $65.1 million, while revenue at its International Technidyne Corp division dropped 4 percent as hospitals cut back on capital equipment spending.
Gross margin was 61.1 percent versus 60.3 percent a year ago, helped by worldwide HeartMate II volume and the launch of new HeartMate external peripherals.
For 2009, the company expects to earn 80 cents a share to 84 cents a share, excluding items, up from its prior view of 76 cents to 81 cents a share.
Shares of the company were up 6 percent at $28.50 in after-market trade. They closed at $26.99 Wednesday on Nasdaq.
For the alerts, please double-click [ID:nWNAB0277] (Reporting by Anuradha Ramanathan in Bangalore; Editing by Anne Pallivathuckal) ((anuradha.ramanathan@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800: Reuters Messaging: anuradha.ramanathan.reuters.com@reuters.net))
