NuVasive reports better than expected Q2, revenue reaches $260.6M: 5 key notes Featured

Written by  Laura Dyrda | Thursday, 27 July 2017 16:11
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NuVasive recorded 10.3 percent second quarter revenue increases for 2017.

"NuVasive delivered better than expected operating profitability and earnings per share results in the second quarter 2017, along with continued strength across our international business, growing at more than 20 percent for the third quarter in a row," said Chairman and CEO Gregory Lucier. "In addition, several of our industry disrupting technologies completed alpha and beta testing this quarter and will commercially launch over the next few months, giving surgeons and patients access to some of the most innovative technologies to address spine trauma conditions, as well as radiation reduction in the operating room."


Here are five things to know:


1. Second quarter revenues were up 10.3 percent to $260.6 million. Cash and cash equivalents and the short and long term marketable securities reached $130.9 million at the end of the quarter.


2. The company expects revenue to reach $1 billion by the end of the year, a 10.7 percent growth over the same period last year. EBITDA for 2017 is expected at 23.6 percent.


3. Net income for the second quarter hit $12.7 million, or $0.22 per share.


4. Gross profit for the second quarter was $176.5 million, and the gross margin was 74.7 percent.


5. Operating expenses for the quarter reached $116.4 million.


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