I would not be surprised if KTCC does really well. At the same time, several things were previously pointed out: revenue last quarter, adjusting for extra week, was actually down. Concentration of demand due to top 3 customers was actually up 70 basis points vs. same quarter last year. Eps benefited both from an extra week and a tax rate of 16.6% (at 30% eps would have been barely above low end of guidance). Being a contractor is a tough business, constantly fighting for customers. They have a nice story, and they tell it well,and their projected tax rate of 25% seems reasonable with so much production overseas.
A brief search found volumes for one hospital (heritage valley) for 2000-2009. 23% of open heart surgeries were for valve replacement, including mitral,
aortic, tricuspid and multiple valves as well as a combination of coronary artery
bypass surgeries with valve replacement. Most of open heart procedures (74%) were for coronary artery bypass only. I wish ATRI would have at least yearly conference calls.