Gross margin improved to 25 percent in the third quarter of 2009 as compared to 16 percent in the third quarter of 2008.
Net loss for the third quarter of 2009 was $10.0 million, or ($0.22) per share. This compares to a net loss of $15.0 million, or ($0.33) per share for the third quarter of 2008, which included the negative impact of a $1.8 million change in fair value of financial instruments.
Cash and cash equivalents as of September 30, 2009 were $22.1 million. The Company's cash usage for the third quarter of 2009 was $2.4 million.
For the third quarter of 2009, the Company had an Adjusted EBITDA loss of $2.4 million, adjusted for stock-based compensation, deferred revenue recognized and other non-recurring expenses, compared with an Adjusted EBITDA loss of $7.3 million in the third quarter of 2008. These results were better than the Company's guidance for an Adjusted EBITDA loss of $3.0 to $4.0 million for the third quarter of 2009. (See the exhibits for a reconciliation of this non-GAAP measure.)
For the fourth quarter of 2009, the Company is forecasting revenue to be between $37.0 to $39.0 million, a net loss in the range of $8.5 to $9.5 million or ($0.18) to ($0.21) per share, and an Adjusted EBITDA loss in the range of $1.5 to $2.5 million.
Supported by its strong performance year to date in 2009, the Company now anticipates revenue for the 2009 fiscal year to be in a range of $145 to $147 million, compared with its prior guidance for revenue to be in a range of $135 to $145 million.
This release contains a non-GAAP financial measure. A reconciliation of the Company's non-GAAP financial measure to its most comparable GAAP financial measure is in the exhibits to this press release.
NxStage will also host a conference call today at 9:00 a.m. Eastern Time to discuss its third qua
|SOURCE NxStage Medical, Inc.|
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