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NxStage Reports Record Second Quarter 2011 Financial Results and Raises Revenue Guidance for 2011
Date:8/3/2011

LAWRENCE, Mass., Aug. 3, 2011 /PRNewswire/ -- NxStage® Medical, Inc. (Nasdaq: NXTM), a leading manufacturer of innovative dialysis products, today reported record financial results for the second quarter of 2011 ended June 30, 2011, with total revenue well above the top end of its guidance range.

(Logo: http://photos.prnewswire.com/prnh/20110503/MM94799LOGO)

Revenue for the second quarter of 2011 increased to $53.8 million, an increase of 22 percent when compared with revenue of $44.0 million for the second quarter of 2010.  The increase was driven by strong performance across all three markets: Home, Critical Care and In-Center.

The Company grew Home revenue to $27.0 million for the second quarter of 2011, representing an increase of 30 percent when compared with revenue of $20.8 million for the second quarter of 2010. Critical Care revenue grew to $8.6 million for the second quarter of 2011, representing an increase of 29 percent when compared with revenue of $6.7 million for the second quarter of 2010.  Revenue in the In-Center market, from the Company's Medisystems business, increased to $18.2 million for the second quarter of 2011, representing an increase of 10 percent when compared with revenue of $16.5 million for the second quarter of 2010.  

"Building on last quarter's momentum, we delivered strong results across our business and topped expectations," stated Jeffrey H. Burbank, CEO of NxStage Medical, Inc.  "With the first and only truly portable hemodialysis system cleared for home use by the FDA and similar competition still a number of years away, we see significant opportunities for growth, continued innovation and expansion within the Home. Given the strength that we're seeing across all markets and the growth in our opportunity pipeline, we're raising our revenue outlook for 2011 to a range of $210 million to $215
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SOURCE NxStage Medical, Inc.
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