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SEC Filings

HEARTWARE INTERNATIONAL, INC. filed this Form 10-Q on 11/02/2015
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We realized a decrease in gross margin percentage, to 49.4% in the third quarter compared to 65.7% in second quarter of 2015 and 66.5% in the third quarter of 2014. This decrease was primarily a result of the expanded battery recall explained above and in Note 3 under the heading Accrued Product Recall Costs. Other factors include unfavorable foreign exchange rates, customer and geographic mix, and to a lesser extent limited competitive pricing pressures.

Combined selling, general, administrative, research and development expenses were $55.6 million in the third quarter of 2015, an increase of $1.7 million from $53.9 million in the second quarter of 2015.

These summary results are more fully described in Results of Operations below.