Nxstage Medical, Inc. (NXTM)

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NxStage Increases Revenue Guidance for Fourth Quarter and Full-Year 2013
Date : 01/13/2014 @ 4:05PM
Source : PR Newswire (US)
Stock : Nxstage Medical, Inc. (MM) (NXTM)
Quote : 11.31 -0.18 (-1.57%) @ 4:44PM
NxStage Increases Revenue Guidance for Fourth Quarter and Full-Year 2013
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Today : Monday 13 January 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, 2013.

(Logo: http://photos.prnewswire.com/prnh/20110503/MM94799LOGO)

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 international sales.

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 15th 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.

About NxStage

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.