UPDATE: NxStage Medical CEO on its Wall-Street-beating Q4 results

February 28, 2013 by MassDevice staff

NxStage Medical founder & CEO Jeff Burbank tells MassDevice.com about its 4th-quarter and 2012 results, which topped Wall Street forecasts today, sending share prices up nearly 8% at their peak.

NxStage  press release

NxStage Medical (NSDQ:NXTM) shares jumped nearly 8% today after the medical device company reported Wall-Street-beating results for the 4th quarter and 2012.

The Lawrence, Mass.-based medical device company said it pared its 4th-quarter losses by nearly 50%, to $2.4 million or 4¢ per share, on sales of $65.0 million for the 3 months ended Dec. 31, 2012. That amounts to top-line growth of 14.0% compared with Q4 2011.

For the full year, NxStage posted losses of $14.6 million, or 26¢ per share, down 32.2% on sales of $242.1 million, up 11.5% compared with 2011.

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The home hemodialysis company beat The Street's consensus earnings forecast by a penny during both Q4 and 2012 and topped analysts' sales prediction of $63.5 million.

NXTM shares surged on the news, opening up $3.2% at $11.20 apiece, peaking at $11.68 (up 7.6%) before subsiding to $11.38 as of about 11:30 a.m. today, up 4.9%.

"It always feels good to bring it in where you told people you would bring it in," founder & CEO Jeff Burbank told MassDevice.com today.