- Increases 2008 Revenue Guidance to $245 Million to $247 Million -
Third Quarter 2008 Highlights:
-- Total revenues of $66.9 million; up 73.7% from the third quarter of 2007
-- Total revenues without Osteocel of $62.5 million; up 62.3% from the
third quarter of 2007
-- Gross profit of $54.7 million; up 73.2% from the third quarter of 2007
-- Gross margin of 81.8% compared to 82.0% in the third quarter of 2007
-- GAAP loss per share for the quarter was $(0.64)
-- Non-GAAP earnings per share was $0.21
-- Completed enrollment of NeoDisc(R) clinical trial
-- Launched next generation NeuroVision(R) M5(TM), extended the line of
CoRoent(R) interbody spacers and introduced XLIF(R) TDR revision
SAN DIEGO, Oct. 22 /PRNewswire-FirstCall/ -- NuVasive, Inc. (Nasdaq: NUVA), a medical device company focused on developing products for minimally disruptive surgical treatments for the spine, announced today financial results for the quarter ended September 30, 2008.
NuVasive reported third quarter revenues of $66.9 million, including $4.4 million of Osteocel revenue, a 73.7% increase over the $38.5 million for the third quarter of 2007 and a 16.5% increase over the $57.4 million for the second quarter of 2008.
Gross profit for the third quarter of 2008 was $54.7 million and gross margin was 81.8%, compared to a gross profit of $31.6 million and a gross margin of 82.0% in the third quarter of 2007. For the second quarter of 2008, gross profit was $47.8 million and gross margin was 83.3%. Gross margin on Osteocel revenues was 36.4%.
Total operating expenses for the third quarter of 2008 were $77.7
million compared to $35.2 million in the third quarter of 2007 and $48.5
million in the second quarter of 2008. On a GAAP basis, the Company
reported a net loss of $23.1 million or $(0.64) per share fo
|SOURCE NuVasive, Inc.|
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