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NxStage(R) Reports Third Quarter 2009 Financial Results and Raises Revenue Guidance for Fiscal 2009
Date:11/5/2009

LAWRENCE, Mass., Nov. 5 /PRNewswire-FirstCall/ -- NxStage Medical, Inc. (Nasdaq: NXTM), a leading manufacturer of innovative dialysis products, today posted strong third quarter results.

Net revenue for the third quarter of 2009 was $38.0 million, compared with the Company's guidance for third quarter revenue in the range of $32.5 to $34.5 million. The Company's third quarter revenue includes approximately $2.5 million of third quarter sales within the In-Center market that management had previously expected to be deferred to the fourth quarter of 2009. The Company further exceeded its guidance as a result of stronger than anticipated machine and disposable sales in the Critical Care market and core growth in the Home market.

The Company's third quarter revenue represents an increase of 25 percent when compared with revenue of $30.5 million for the third quarter of 2008.

"Our strategy to drive further improvements in both our operating and financial positions proved to be very effective during the third quarter. Our efforts led to better overall execution compared to our expectations, and stronger than anticipated demand across our three markets," stated Jeffrey H. Burbank, Chief Executive Officer of NxStage Medical. "The third quarter also continued our trend of solid sequential improvement in other key areas including gross margin, adjusted EBITDA and cash."

Revenue within the Company's Home market was $16.4 million for the third quarter of 2009, an increase of 32 percent when compared with revenues of $12.4 million for the third quarter of 2008. Revenue for the Company's Critical Care and In-Center markets was $5.7 million and $16.0 million, respectively, for the third quarter of 2009, representing an increase of 29 percent and 17 percent, respectively, when compared with revenue for the third
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SOURCE NxStage Medical, Inc.
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