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NxStage Reports Record Fourth Quarter and Full-Year 2012 Financial Results
Date:2/28/2013

ting a 15 percent increase.

The Company's in-center business, Medisystems, delivered 4 percent annual growth with revenue increasing to $76.9 million for the full-year 2012, compared with revenue of $73.8 million for the full-year 2011.  Fourth quarter 2012 revenue was $21.5 million, compared with $19.0 million in the fourth quarter of 2011. The Company also reported $2.1 million in Other Revenues for the full-year 2012, reflecting the Company's dialyzer manufacturing revenue from Asahi.

NxStage reported a net loss of $15.2 million or $(0.26) per share for the full-year 2012 compared with a net loss of $21.4 million or $(0.39) per share for the full-year 2011.  The Company reported a net loss of $2.4 million or $(0.04) per share for the fourth quarter of 2012 compared with a net loss of $4.6 million or $(0.08) per share for the fourth quarter of 2011.

For the full-year 2012, the Company reported Adjusted EBITDA, adjusted for stock-based compensation, deferred revenue recognized, manufacturing transition costs and other non-cash expenses, of $8.0 million, compared with $7.3 million for the full-year 2011.  For the fourth quarter of 2012, Adjusted EBITDA was $2.1 million compared with $2.0 million in the fourth quarter of 2011.  (See the exhibits for a reconciliation of this non-GAAP measure.)

"As evidenced by our 2012 results, our business and market fundamentals remain strong and positive. We believe NxStage is uniquely positioned for growth as it continues to make a difference to people's lives with significant innovations that are advancing the standard of renal care," stated Jeffrey H. Burbank, Founder and Chief Executive Officer. 

In commenting on the Company's recent advancements in its product pipeline, which include CE Mark approval for nocturnal home hemodialysis with the System One, its high flow dialysis capabilities, and its revolutionary single needle technology, Burbank stated, "Taken togethe
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SOURCE NxStage Medical, Inc.
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