Thoratec (Nasdaq: THOR) reported earnings yesterday. Here are the numbers you need to know.

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

Compared to the prior-year quarter, revenue improved significantly and GAAP earnings per share grew significantly.

Gross margins dropped, operating margins grew, and net margins expanded.

Revenue details
Thoratec recorded revenue of $126.8 million. The 19 analysts polled by S&P Capital IQ expected to see net sales of $112.0 million on the same basis. GAAP reported sales were 27% higher than the prior-year quarter's $99.5 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 $0.51. The 17 earnings estimates compiled by S&P Capital IQ predicted $0.41 per share. GAAP EPS of $0.43 for Q1 were 59% higher than the prior-year quarter's $0.27 per share.

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 69.3%, 80 basis points worse than the prior-year quarter. Operating margin was 29.2%, 200 basis points better than the prior-year quarter. Net margin was 20.1%, 360 basis points better than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $119.9 million. On the bottom line, the average EPS estimate is $0.45.

Next year's average estimate for revenue is $457.7 million. The average EPS estimate is $1.65.

Investor sentiment
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 143 members rating the stock outperform and 20 members rating it underperform. Among 43 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 38 give Thoratec 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 Thoratec is outperform, with an average price target of $37.89.

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