Last $45.75 USD
Change Today +0.76 / 1.69%
Volume 581.5K
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As of 8:10 PM 02/27/15 All times are local (Market data is delayed by at least 15 minutes).

nuvasive inc (NUVA) Key Developments

NuVasive, Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2014; Provides Earnings Guidance for the Year 2015

NuVasive, Inc. announced unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2014. For the quarter, the company reported revenue of $204,324,000 against $190,815,000 a year ago. Income before income taxes was $17,643,000 against $8,600,000 a year ago. Net income was $7,292,000 against $5,837,000 a year ago. Net income attributable to the company was $7,473,000 or $0.16 diluted per share against $6,009,000 or $0.13 diluted per share a year ago. On a non-GAAP basis, the Company reported net income of $20.0 million, or $0.39 per share, for the fourth quarter 2014 compared to net income of $17.8 million, or $0.37 per share, for the fourth quarter 2013. For the year, the company reported revenue of $762,415,000 against $685,173,000 a year ago. Loss before income taxes was $11,210,000 against income of $9,768,000 a year ago. Net loss was $17,496,000 against net income of $6,985,000 a year ago. Net loss attributable to the company was $16,720,000 or $0.36 diluted per share against net income of $7,902,000 or $0.18 diluted per share a year ago. Net cash provided by operating activities was $115,548,000 against $97,439,000 a year ago. Purchases of property and equipment were $58,424,000 against $47,597,000 a year ago. Non-GAAP earnings were $57,358,000 or $1.23 per share. On a non-GAAP basis, the company reported net income of $57.5 million, or $1.16 per share, for the full year 2014 compared to net income of $57.4 million, or $1.23 per share, for the full year 2013. For 2014, the company expects revenue of approximately $810.0 million, which includes an approximate $10.0 million of currency headwinds, or 6.0% growth compared to 2014 revenue of $762.4 million; on a constant currency basis revenue is expected to grow 7.5%; GAAP earnings per share of approximately $0.67 compared to 2014 GAAP loss per share of $0.36; Non-GAAP earnings per share of approximately $1.10, an increase of approximately 64.0% compared to non-GAAP earnings of $0.67 for 2014; Non-GAAP operating margin of approximately 14.4%, an increase of approximately 300 basis points compared to 11.4% for 2014; this is an increase of 50 basis points from previous expectations of an approximate 250 basis point improvement expected in 2015; Non-GAAP EBITDA margin of approximately 24.6%, an increase of approximately 270 basis points compared to 21.9% for 2014; GAAP effective tax expense rate of approximately 49%; and Non-GAAP effective tax expense rate of approximately 46%.

NuVasive, Inc. Presents at Leerink's Global Healthcare Conference, Feb-11-2015 11:30 AM

NuVasive, Inc. Presents at Leerink's Global Healthcare Conference, Feb-11-2015 11:30 AM. Venue: Waldorf Astoria New York, New York, New York, United States. Speakers: Quentin Blackford, Chief Financial Officer, Chief Accounting Officer and Executive Vice President.

NuVasive, Inc., Q4 2014 Earnings Call, Feb 24, 2015

NuVasive, Inc., Q4 2014 Earnings Call, Feb 24, 2015

NuVasive, Inc. Announces Management Changes

NuVasive, Inc. announced changes to its leadership team designed to enhance the company's organizational alignment and accelerate its market share-taking strategy in the global spine market. Pat Miles, NuVasive's current President of Global Products and Services, will assume an expanded role as President and Chief Operating Officer. In this new role, Mr. Miles will continue to be responsible for leadership and management of global products and services. In addition, he will take on NuVasive's operational duties, including customer fulfillment, manufacturing, supply chain management and quality engineering. The company also announced that NuVasive's Chief Operating Officer Keith Valentine will step down from that role and be leaving the company effective April 30, 2015. Mr. Valentine is committed to working with the company to ensure a seamless transition of responsibilities over the coming months. Mr. Miles' newly expanded role as President and Chief Operating Officer is the product of 14 years of service to NuVasive.

NuVasive, Inc. Provides Preliminary Results for 2014; Provides Revenue Guidance for 2015

NuVasive, Inc. provides preliminary results for 2014. NuVasive anticipates full-year 2014 revenue will approximate $761 million. Previously issued guidance for this metric was approximately $755 million. NuVasive also anticipates preliminary fourth quarter 2014 revenue performance of approximately $203 million. The company also anticipates that full-year 2014 non-GAAP operating margin will exceed previously issued guidance of approximately 16.5%, with guidance alone reflecting more than 150 basis points of expansion in operating margin versus the full-year 2013. Driving this anticipated full-year 2014 non-GAAP operating margin performance is NuVasive's preliminary anticipation of fourth quarter 2014 non-GAAP operating margin of approximately 20%. The company provides revenue guidance for 2015. NuVasive expects full-year 2015 revenue to grow approximately 6% year-over-year to $810 million, which includes approximately $8 million in currency headwinds.

 

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