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NxStage Reports Fourth Quarter and Full Year 2008 Financial Results
Date:3/12/2009

Q4 Financial Highlights

- Revenue: $35.7 million, up 19% from $29.9 million in Q4'07

- Gross Margin: 20%, up from 2% in Q4'07

LAWRENCE, Mass., March 12 /PRNewswire-FirstCall/ -- NxStage Medical, Inc. (Nasdaq: NXTM), a leading manufacturer of innovative dialysis products, today reported financial results for the three months and twelve months ended December 31, 2008, that included revenue and Adjusted EBITDA results above the top end of its guidance range and gross margins well within expectations.

Net revenue for the fourth quarter of 2008 increased 19 percent to $35.7 million compared with revenue of $29.9 million for the fourth quarter of 2007. For the twelve months ended December 31, 2008, NxStage's revenue increased 115 percent to $128.8 million compared with revenue of $60.0 million for the full year 2007. On a pro forma basis, after giving effect to the Company's acquisition of Medisystems Corporation, revenue increased 26 percent year over year.

Through continued execution against initiatives to drive broader market adoption, the Company increased annual revenue in the Home market by 62 percent. Home revenues grew to $48.3 million for the full year 2008 compared with revenues of $29.8 million for the full year 2007. Home revenues increased to $13.5 million in the fourth quarter of 2008, representing a 9 percent sequential improvement when compared with third quarter revenues of $12.4 million.

The Company also increased annual revenue in the Critical Care market by 29 percent. Critical Care revenues grew to $18.6 million for the full year 2008 compared with revenues of $14.4 million for the full year 2007. Revenues in the Critical Care market increased to $5.4 million in the fourth quarter, representing a 24 percent sequential improvement when compared w
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SOURCE NxStage Medical Inc.
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