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NuVasive Reports Fourth Quarter and Full Year 2008 Financial Results
Date:2/25/2009

- Fourth Quarter Revenue of $74.6 Million -

- 2008 Revenue of $250.1 Million -

- Provides 2009 Guidance -

Fourth Quarter and Full Year 2008 Highlights:

- Fourth quarter total revenue of $74.6 million; up 58.9% from the fourth quarter 2007

- Full year 2008 total revenue of $250.1 million; up 62.1% from the full year 2007

- Osteocel revenue for the second half 2008 of $10 million; exceeds prior guidance of $9 million

- Gross margin of 82.0% for the fourth quarter and 82.3% for the full year

- GAAP earnings per share was $0.10 for the fourth quarter and loss per share was $(0.77) for the full year

- Full year 2008 earnings per share of $0.10 excluding in-process research and development costs and other adjustments; exceeds prior guidance of $0.07 - $0.09

SAN DIEGO, Feb. 25 /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 and year ended December 31, 2008.

NuVasive reported fourth quarter revenue of $74.6 million, including $5.7 million of Osteocel revenue, a 58.9% increase over the $46.9 million for the fourth quarter 2007 and an 11.5% increase over the $66.9 million for the third quarter 2008. Full year 2008 revenue was $250.1 million, a 62.1% increase over the $154.3 million reported for the full year 2007.

Gross profit for the fourth quarter 2008 was $61.1 million and gross margin was 82.0%, compared to a gross profit of $38.9 million and a gross margin of 82.9% for the fourth quarter 2007. For third quarter 2008, gross profit was $54.7 million and gross margin was 81.8%. Gross profit for
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SOURCE NuVasive, Inc.
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