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NxStage® Medical – NXTM – Continue to deliver double digit growth

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NxStage® Medical, Inc. (Nasdaq: NXTM), a leading manufacturer of innovative dialysis products, today reported record financial results for the third quarter ended September 30, 2012, with total revenue above the top end of its guidance range.

Revenue for the third quarter of 2012 increased 9% to $61.2 million, compared with revenue of $55.9 million for the third quarter of 2011.  The higher revenues were driven by increased adoption of the NxStage System One™.

Home revenue for the third quarter of 2012 increased 17% to a record $31.9 million compared with revenues of $27.2 million for the third quarter of 2011.

“Home growth remains strong,” commented Jeffrey H. Burbank, Founder and Chief Executive Officer. “We continue to deliver double digit growth because we’re doing the right thing for patients.  We remain committed to increasing adoption of home, more frequent dialysis, and see multiple catalysts for growth including; increased patient demand, our robust product portfolio and our centers of excellence strategy.  With continued execution, we believe we can achieve over 14% annual growth in the Home for 2012.”

Critical Care revenue decreased slightly to $9.1 million for the third quarter of 2012 compared with revenues of $9.2 million for the third quarter of 2011 reflecting equipment purchasing delays by hospitals.  Revenue in the In-Center market was $19.6 million for the third quarter of 2012.

NxStage reported a net loss of $2.6 million or $(0.04) per share for the third quarter of 2012 compared with a net loss of $5.3 million or $(0.10) per share for the third quarter of 2011.

For the third quarter of 2012, the Company reported Adjusted EBITDA, adjusted for stock-based compensation, deferred revenue recognized, manufacturing transition costs and other non-cash expenses, of $2.4 million compared with $2.4 million for the third quarter of 2011.  (See the exhibits for a reconciliation of this non-GAAP measure.)

About NxStage – NXTM

NxStage Medical, Inc. (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.

NXTM’s primary product is the NxStage System One (System One). It also sells needles and blood tubing sets primarily to dialysis clinics for the treatment of end-stage renal disease (ESRD). It operates in two segments: System One and In-Center. It distributes its products in three markets: home, critical care and in-center. In the System One segment it derives its revenues from the sale and rental of the System One and PureFlow SL equipment, and the sale of disposable products in the home and critical care markets. In the In-Center segment, it derives its revenues from the sale of blood tubing sets and needles for hemodialysis primarily for the treatment of ESRD patients at dialysis centers and needles for apheresis, which is referred to as the in-center market.

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edliston
Post Written By: Ed Liston
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.

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Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing.

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