NuVasive: 2Q Earnings Snapshot
Jul. 31, 2018
SAN DIEGO (AP) _ NuVasive Inc. (NUVA) on Tuesday reported second-quarter profit of $11.5 million.
On a per-share basis, the San Diego-based company said it had profit of 22 cents. Earnings, adjusted for one-time gains and costs, were 58 cents per share.
The results met Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was also for earnings of 58 cents per share.
The spinal device maker posted revenue of $281.6 million in the period, which beat Street forecasts. Six analysts surveyed by Zacks expected $276.1 million.
NuVasive expects full-year earnings in the range of $2.37 to $2.40 per share.
NuVasive shares have dropped nearly 1 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $58.05, a drop of 12 percent in the last 12 months.