NuVasive: 4Q Earnings Snapshot
SAN DIEGO (AP) _ NuVasive Inc. (NUVA) on Wednesday reported fourth-quarter earnings of $12.2 million.
On a per-share basis, the San Diego-based company said it had net income of 23 cents. Earnings, adjusted for amortization costs and non-recurring costs, came to 69 cents per share.
The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 63 cents per share.
The spinal device maker posted revenue of $288.3 million in the period, which met Street forecasts.
For the year, the company reported profit of $12.5 million, or 24 cents per share. Revenue was reported as $1.1 billion.
NuVasive expects full-year earnings in the range of $2.20 to $2.30 per share, with revenue in the range of $1.14 billion to $1.16 billion.
NuVasive shares have increased 12 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $55.42, an increase of 17 percent in the last 12 months.