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Thoratec kills in in Q3, raises sales & earnings outlook

Fri, 11/02/2012 - 6:30am
Mass Device

Thoratec Corp. crushes Wall Street's expectations on the way to a more than 35% profit increase, but shares rise only 1% on the news.

Thoratec

Thoratec (NSDQ:THOR) beat Wall Street's expectations by 10¢ with its 3rd-quarter results, posting double-digit sales and earnings increases but failing to impress investors on The Street.

The Pleasanton, Calif.-based medical device company reported profits of $24.3 million, or 41¢ per share, on sales of $117.8 million during the 3 months ended Sept. 29, representing sales growth of 14.8% and a 35.1% earnings increase.

But THOR shares had barely budged by the market's close today, ending at $36.05 apiece for a 1% gain on the day.

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