nuvasive inc (NUVA) Key Developments
NuVasive, Inc. Presents at Bank of America Merrill Lynch 2015 Health Care Conference, May-12-2015 08:40 AM
May 7 15
NuVasive, Inc. Presents at Bank of America Merrill Lynch 2015 Health Care Conference, May-12-2015 08:40 AM. Venue: Encore at the Wynn, 3131 S Las Vegas Blvd, Las Vegas, Nevada, United States. Speakers: Quentin Blackford, Chief Financial Officer, Chief Accounting Officer and Executive Vice President.
NuVasive, Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Provides Earnings Guidance for the Full Year 2015
May 4 15
NuVasive, Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the period, revenue was $192,383,000 against $177,496,000 in the same period a year ago. Interest income was $419,000 against $217,000 in the same period a year ago. Income before income taxes was $49,282,000 against loss before income taxes was $33,628,000 in the same period a year ago. Net income was $31,397,000 against net loss of $18,533,000 in the same period a year ago. Net income attributable to the company was $31,560,000 or $0.61 per basic and diluted share against net loss attributable to the company $18,276,000 or $0.40 per basic and diluted share against in the same period a year ago. Net cash provided by operating activities was $26,023,000 against $23,300,000 in the same period a year ago. Purchases of property and equipment were $30,694,000 against $13,390,000 in the same period a year ago. Non-GAAP earnings were $14.3 million, or $0.29 per share. On a non-GAAP basis, the company reported net income of $14.3 million, or $0.29 per share, for the first quarter 2014. Purchase of intangible assets was $27,389,000.
The company provides earnings guidance for the full year 2015. The company expects revenue of approximately $810.0 million, which includes an approximate $12.0 million of currency headwinds versus a prior expectation of an approximate $10.0 million currency impact for 2015, or approximately 6.0% growth compared to revenue of $762.4 million for 2014; on a constant currency basis revenue is expected to grow approximately 7.8%; GAAP earnings per share of approximately $1.12 compared to GAAP loss per share of ($0.36) for 2014; versus a prior expectation of $0.67 for 2015; 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; unchanged from prior expectations for 2015; Non-GAAP operating margin of approximately 14.4%, an increase of approximately 300 basis points compared to 11.4% for 2014; unchanged from prior expectations for 2015; Adjusted EBITDA margin of approximately 24.6%, an increase of approximately 270 basis points compared to 21.9% for 2014; unchanged from prior expectations for 2015; GAAP effective tax expense rate of approximately 46.0%; versus a prior expectation of 49.0% for 2015; and Non-GAAP effective tax expense rate of approximately 46.0%; unchanged from prior expectations for 2015.
NuVasive, Inc. Launches Integrated Global Alignment Platform at AANS 2015
May 4 15
NuVasive, Inc. announced the launch of its Integrated Global Alignment (iGA) platform. The company believes this new platform marks a significant advancement in the historical approach to spine surgery by integrating procedural technology and tools into one platform to help address proper alignment. The announcement was made at the 83rd American Association of Neurological Surgeon (AANS) Annual Meeting, held May 2-6, 2015, in Washington, D.C. iGA is a proprietary, procedurally integrated, digital platform of specialized products designed to help surgeons achieve more precise spinal column alignment. The platform prioritizes the importance of proper alignment and its potential to impact positive patient outcomes. The iGA platform includes a collection of products, including next generation posterior fixation, anterior and posterior implants, updated neuromonitoring and computer-assisted surgical planning technology. The suite of proprietary, procedurally-based technologies that comprise iGA are designed to enhance clinical outcomes by increasing the predictability of achieving global alignment in spinal procedures. Newly launched products in the iGA platform include ReLine(TM), NuvaMap(TM), Nuvaline(TM), NuvaMap O.R. and Bendini(R). These products, which are seamlessly integrated across the surgical workflow, are designed to help the surgeon: //st CALCULATE alignment parameters with NuvaMap and Nuvaline preoperative planning tools; CORRECT the anterior and posterior columns with comprehensive implant solutions using real-time intraoperative assessment via NuvaMap O.R.; and CONFIRM the restoration and preservation of global sagittal alignment postoperatively, again through NuvaMap and Nuvaline. NuVasive's new surgical platform will officially launch at the Company's exhibition booth (#1031) at the AANS Annual Meeting, beginning May 4, 2015. The innovations to be showcased include the Company's enhanced Bendini spinal rod bending system, ReLine comprehensive posterior fixation system, NuvaMap, Nuvaline and NuvaMap O.R. surgical planning software integrated with new procedures, including ALIF ACR(R), XLIF ACR(R) and cervical ACR to help correct sagittal alignment. NuVasive's AANS exhibit will also feature the Company's MAS(R) TLIF, MAS PLIF, XLIF and ALIF products, along with its comprehensive cervical portfolio, NVM5(R) neuromonitoring system, and the other products and procedural innovations that have enabled NuVasive to become the third large player in the $9 billion global spine market.
NuVasive, Inc. Reaches Agreement in Principle with the U.S. Department of Justice to Settle OIG Matter
Apr 30 15
NuVasive, Inc. announced that it has reached an agreement in principle with the U.S. Department of Justice (DOJ) related to the previously disclosed subpoena issued to the Company in 2013 by the Office of Inspector General of the Department of Health and Human Services (OIG). Subject to completion of a definitive written settlement agreement, the company has agreed to pay $13.8 million, including fees, to the United States to resolve this matter. The company does not currently anticipate entering into a corporate integrity agreement with the OIG as part of the settlement. Finalizing the written settlement agreement could take several months.
NuVasive, Inc. Presents at UBS Global Healthcare Conference, May-19-2015 01:30 PM
Apr 21 15
NuVasive, Inc. Presents at UBS Global Healthcare Conference, May-19-2015 01:30 PM. Venue: Sheraton New York Times Square Hotel, 811 Seventh Avenue, New York, New York, United States. Speakers: Quentin Blackford, Chief Financial Officer, Chief Accounting Officer and Executive Vice President.