NxStage Medical (NSDQ:NXTM) shares jumped nearly 8% today after the medical device company reported Wall-Street-beating results for the 4th quarter and 2012.
The Lawrence, Mass.-based medical device company said it pared its 4th-quarter losses by nearly 50%, to $2.4 million or 4¢ per share, on sales of $65.0 million for the 3 months ended Dec. 31, 2012. That amounts to top-line growth of 14.0% compared with Q4 2011.
For the full year, NxStage said losses were $14.6 million or 26¢ per share, down 32.2% compared with 2011.
The home hemodialysis company beat The Street’s consensus earnings forecast by a penny during both Q4 and 2012 and topped analysts’ sales prediction of $63.5 million. NXTM shares surged on the news, opening up $3.2% at $11.20 apiece, peaking at $11.68 (up 7.6%) before subsiding to $11.38 as of about 11:30 a.m. today, up 4.9%.
"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," founder and CEO Jeffrey Burbank said in prepared remarks. "Taken together with increasing confidence in our ability to drive continued growth with new direct to patient marketing programs, we believe the overall effect of our product execution is that we are better positioned to accelerate adoption of our therapies with much greater potential than in the past. With the benefit of these programs largely expected in 2014, we expect top line 2013 revenue to remain strong and grow at a rate similar with 2012, followed by accelerated success and over 15% annual revenue growth in 2014 and beyond, excluding any benefit of service revenue from NxStage owned centers of excellence."
NxStage said it expects to post revenues of between $60.5 million and $62.0 million during the 1st quarter, excluding the 1-time impact of its planned transition to direct sales in the U.K. That move is anticipated to cost between $500,000 and $1 million, NxStage said. Net losses are slated to be between $4.5 million and $5.5 million during Q1, or -8¢-9¢ per share.
Fiscal 2013 sales are pegged at $265 million to $270 million, with net losses of $13 million to $17 million (or -22¢-28¢) per share.
The post NxStage Medical surges nearly 8% after beating Wall Street appeared first on MassDevice.