Shares of NxStage Medical, Inc. (NASDAQ:NXTM) jumped by more than 12 percent through midday trading on Wall Street today, as the company reported a 22 percent jump in sales during the second quarter and upped its 2011 top line guidance.
NXTM posted $53.7 million in sales during the three month period ended on June 30, 2011, compared to $44 million during the same period last year. The strong sales helped the company narrow its net losses to $5.3 million, compared to $8.1 million for the same period last year.
A 35 percent jump in sales of the company’s in-home portable dialysis paced the company during the second quarter. The NXTM also announced that they had renegotiated an agreement with an unnamed customer that officials described as “one of its largest customers,” through December 31, 2012.
The strong performance helped the company increase its top line 2011 guidance to $210 million to $215 million in sales, compared with previous estimates of $205 million to $213 million, while maintaining its guidance for a net loss in the range of $19 million to $23 million.