NuVasive: 2Q Earnings Snapshot
SAN DIEGO (AP) _ NuVasive Inc. (NUVA) on Tuesday reported second-quarter net income of $15 million.
The San Diego-based company said it had net income of 29 cents per share. Earnings, adjusted for one-time gains and costs, were 63 cents per share.
The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 56 cents per share.
The spinal device maker posted revenue of $292.1 million in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $291.8 million.
NuVasive expects full-year earnings in the range of $2.25 to $2.35 per share, with revenue in the range of $1.14 billion to $1.16 billion.
NuVasive shares have climbed 21% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $60.02, an increase of nearly 5% in the last 12 months.