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NuVasive Reports First Quarter 2009 Financial Results
Date:4/22/2009

- Increases 2009 Guidance for Revenue and Earnings per Share -

- Announces the Acquisition of Cervitech(R) -

First Quarter 2009 Highlights:

- Total revenue of $80.0 million; up 56.3% from the first quarter 2008 and up sequentially 7.3% from fourth quarter 2008

- Gross margin of 81.5% compared to 82.2% for first quarter 2008

- GAAP loss per share was $(0.12); favorable to prior guidance of $(0.27) - $(0.25)

- First quarter loss per share was $(0.02), excluding intellectual property litigation and acquisition related costs; favorable to prior guidance of $(0.21) - $(0.19)

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, 2009.

NuVasive reported first quarter revenue of $80.0 million, a 56.3% increase over the $51.2 million for the first quarter 2008 and a 7.3% increase over the $74.6 million for the fourth quarter 2008.

Gross profit for the first quarter 2009 was $65.2 million and gross margin was 81.5%, compared to a gross profit of $42.1 million and a gross margin of 82.2% for the first quarter 2008. For fourth quarter 2008, gross profit was $61.1 million and gross margin was 82.0%.

Total operating expenses for the first quarter 2009 were $68.7 million compared to $50.5 million in the first quarter 2008 and $57.0 million in the fourth quarter 2008. Operating expenses include $1.9 million for Progentix and Cervitech acquisition costs and $1.6 million related to intellectual property litigation.

On a GAAP basis, the Company reported a net loss of $4.3 million, or $(0.12) per sha
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SOURCE NuVasive, Inc.
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