NxStage Increases Revenue Guidance for Fourth Quarter and Full-Year 2013
LAWRENCE, Mass., Jan. 13, 2014
LAWRENCE, Mass., Jan. 13, 2014 /PRNewswire/ --NxStage® Medical, Inc. (Nasdaq:
NXTM), a leading manufacturer of innovative dialysis products, today increased
its revenue guidance for the fourth quarter and fiscal year ended December 31,
For the fourth quarter of 2013, the Company expects to deliver total revenue
of approximately $69 million, above the top end of its previously announced
guidance range for revenue to be between $67.0 to $68.5 million. This
performance is expected to reflect approximately 12% growth in the Home when
compared with the fourth quarter of 2012, as a result of solid domestic and
For the full-year 2013, the Company expects to deliver total revenue of
approximately $263 million, above the top end of its previously announced
guidance range for revenue to be between $261.0 to $262.5 million. Annual Home
revenue growth for 2013 is expected to be approximately 7.5%, at the top end
of the Company's previously announced guidance range of 6.5 to 7.5% growth.
The Company also expects net loss for the fourth quarter and the full-year
2013 to be within its previous announced guidance ranges of $5 to $6 million
and $18.5 to $19.5 million, respectively, subject to adjustments, including
recent litigation settlement costs and certain international tax matters.
"As a result of continued traction with our strategic growth initiatives, Home
revenue increased slightly ahead of our expectations in the quarter and we
continue to target 15% annual revenue growth in the Home in 2014," stated
Jeffrey H. Burbank, Chief Executive Officer. "We also delivered solid revenue
growth across our other businesses consistent with our guidance, and ended the
year with over $80 million in cash."
Management will be presenting at the 32nd Annual J.P. Morgan Healthcare
Conference in San Francisco, CA on Wednesday, January 15^th at 4:30 p.m. PST.
A webcast of the presentation will be made available at http://ir.nxstage.com
at the time of the presentation. The Company plans to announce its final
audited financial results for the fourth quarter and fiscal year ended
December 31, 2013 on Thursday, February 27, 2014 at 9:00 am ET.
NxStage Medical, Inc. (Nasdaq: NXTM) is a medical device company,
headquartered in Lawrence, Massachusetts, USA, that develops, manufactures and
markets innovative products for the treatment of ESRD and acute kidney
failure. For more information on NxStage and its products, please visit the
Company's website at www.nxstage.com.
This release contains "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995. All statements contained in
this release that are not clearly historical in nature are forward-looking,
and the words "anticipate," "believe," "expect," "estimate," "plan," and
similar expressions are generally intended to identify forward-looking
statements. Examples of these forward-looking statements include statements as
to the anticipated demand for the Company's products, anticipated operating
results, including revenues, loss and other expectations as to future
operating results. All forward-looking statements involve risks, uncertainties
and contingencies, many of which are beyond NxStage's control, which may cause
actual results, performance, or achievements to differ materially from
anticipated results, performance or achievements, including market acceptance
and demand for NxStage's products domestically and internationally, growth in
home and/or more frequent hemodialysis, unanticipated difficulties in
achieving operational efficiencies and cost reductions, changes in
reimbursement for home and more frequent hemodialysis, changes in the
regulatory environment, changes in the historical purchasing patterns and
preferences of our customers, including DaVita Healthcare Partners Inc. and
Fresenius Medical Care, including in response to NxStage's new centers of
excellence initiative, and certain other factors that may affect future
operating results and which are detailed in NxStage's filings with the
Securities and Exchange Commission, including its Quarterly Report on Form
10-Q for the quarter ended September 30, 2013.
In addition, the statements in this press release represent NxStage's
expectations and beliefs as of the date of this press release. NxStage
anticipates that subsequent events and developments may cause these
expectations and beliefs to change. However, while NxStage may elect to update
these forward-looking statements at some point in the future, it specifically
disclaims any obligation to do so, whether as a result of new information,
future events, or otherwise. These forward-looking statements should not be
relied upon as representing NxStage's expectations or beliefs as of any date
subsequent to the date of this press release.
Kristen K. Sheppard, Esq.
SOURCE NxStage Medical, Inc.
Contact: Kristen K. Sheppard, Esq., Investor Relations, firstname.lastname@example.org,
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