- Increases 2008 Revenue Guidance to a range of $210 to $214 Million -
First Quarter 2008 Highlights: - Total revenues of $51.2 million; up 54.1% from the first quarter of 2007 - Gross profit of $42.1 million; up 53.0% from the first quarter of 2007 - Gross margin of 82.2% compared to 82.8% in the first quarter of 2007 - GAAP loss per share was $(0.22), including $(0.12) of one-time charges;
non-GAAP earnings per share was $0.06 - Raised $209 million in convertible senior notes (net of offering costs) - Completed buy-out of royalty obligations on SpheRx(R) pedicle screw and related technology products, and acquired new pedicle screw intellectual
property - NeoDisc(R) clinical trial continues to progress with current enrollment
SAN DIEGO, April 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 March 31, 2008.
NuVasive reported first quarter revenues of $51.2 million, a 54.1% increase over the $33.2 million for the first quarter of 2007 and a 9.1% increase over the $46.9 million for the fourth quarter of 2007.
Gross profit for the first quarter of 2008 was $42.1 million and gross margin was 82.2%, compared to a gross profit of $27.5 million and a gross margin of 82.8% in the first quarter of 2007. For the fourth quarter of 2007, gross profit was $38.9 million and gross margin was 82.9%.
Total operating expenses for the first quarter of 2008 were $50.5
million compared to $33.8 million in the first quarter of 2007 and $41.2
million in the fourth quarter of 2007. Operating expenses include an
in-process research and development charge of $4.2 million related to the
acquisition of pedicle screw intellectual property. Exclu
|SOURCE NuVasive, Inc.|
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