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SEC Filings

10-Q
HEARTWARE INTERNATIONAL, INC. filed this Form 10-Q on 11/02/2015
Entire Document
 


Table of Contents

PART I. FINANCIAL INFORMATION

ITEM 1. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

HEARTWARE INTERNATIONAL, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands, except per share data)

 

     September 30,
2015
    December 31,
2014
 
     (unaudited)        

ASSETS

    

Current assets:

    

Cash and cash equivalents

   $ 184,882      $ 102,946   

Short-term investments

     63,391        75,535   

Accounts receivable, net

     34,968        38,041   

Inventories

     47,245        54,046   

Prepaid expenses and other current assets

     6,744        5,975   
  

 

 

   

 

 

 

Total current assets

     337,230        276,543   

Property, plant and equipment, net

     15,711        19,036   

Goodwill

     61,273        61,390   

In-process research and development

     32,850        32,850   

Other intangible assets, net

     17,935        17,807   

Deferred financing costs, net

     4,160        1,552   

Long-term investments and other assets

     19,307        14,635   
  

 

 

   

 

 

 

Total assets

   $ 488,466      $ 423,813   
  

 

 

   

 

 

 

LIABILITIES AND STOCKHOLDERS’ EQUITY

    

Current liabilities:

    

Accounts payable

   $ 12,731      $ 13,322   

Other accrued liabilities

     47,463        36,589   
  

 

 

   

 

 

 

Total current liabilities

     60,194        49,911   

Convertible senior notes, net

     188,790        114,803   

Contingent liabilities – See Note 4

     50,440        43,740   

Other long-term liabilities

     4,680        6,825   

Commitments and contingencies – See Note 12

    

Stockholders’ equity:

    

Preferred stock – $.001 par value; 5,000 shares authorized; no shares issued and outstanding at September 30, 2015 and December 31, 2014

     —          —     

Common stock – $.001 par value; 50,000 and 25,000 shares authorized at September 30, 2015 and December 31, 2014, respectively; 17,315 and 17,156 shares issued and outstanding at September 30, 2015 and December 31, 2014, respectively

     17        17   

Additional paid-in capital

     613,204        565,609   

Accumulated deficit

     (420,574     (348,719

Accumulated other comprehensive loss:

    

Cumulative translation adjustments

     (8,199     (8,112

Unrealized loss on investments

     (86     (261
  

 

 

   

 

 

 

Total accumulated other comprehensive loss

     (8,285     (8,373

Total stockholders’ equity

     184,362        208,534   
  

 

 

   

 

 

 

Total liabilities and stockholders’ equity

   $ 488,466      $ 423,813   
  

 

 

   

 

 

 

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

 

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