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Heartware International Beats on the Top Line

Tuesday - 4/30/2013, 2:00am  ET

Heartware International reported earnings on April 29. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended March 31 (Q1), Heartware International crushed expectations on revenues and exceeded expectations on earnings per share.

Compared to the prior-year quarter, revenue expanded significantly. Non-GAAP loss per share contracted. GAAP loss per share contracted.

Margins grew across the board.

Revenue details
Heartware International chalked up revenue of $49.5 million. The 16 analysts polled by S&P Capital IQ anticipated revenue of $39.9 million on the same basis. GAAP reported sales were 87% higher than the prior-year quarter's $26.3 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
EPS came in at -$0.87. The 16 earnings estimates compiled by S&P Capital IQ predicted -$1.22 per share. Non-GAAP EPS were -$0.87 for Q1 compared to -$1.33 per share for the prior-year quarter. GAAP EPS were -$0.03 for Q1 versus -$0.04 per share for the prior-year quarter.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
For the quarter, gross margin was 61.9%, 300 basis points better than the prior-year quarter. Operating margin was -16.6%, much better than the prior-year quarter. Net margin was -26.3%, much better than the prior-year quarter. (Margins calculated in GAAP terms.)

Looking ahead
Next quarter's average estimate for revenue is $49.7 million. On the bottom line, the average EPS estimate is -$0.75.

Next year's average estimate for revenue is $207.2 million. The average EPS estimate is -$3.15.

Investor sentiment
The stock has a one-star rating (out of five) at Motley Fool CAPS, with 30 members out of 48 rating the stock outperform, and 18 members rating it underperform. Among 15 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 10 give Heartware International a green thumbs-up, and five give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Heartware International is outperform, with an average price target of $96.93.

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This article was originally published as Heartware International Beats on the Top Lineon Fool.com

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