The San Diego-based spine technology company posted profits of $29.9 million, or 55¢ per share, on sales of $310.4 million for the three months ended Dec. 31, 2019, more than doubling its bottom line on sales growth of 7.6%.
Adjusted to exclude one-time items, earnings per share were 73¢, 9¢ ahead of Wall Street, where analysts were looking for sales of $304.8 million.
“NuVasive delivered strong financial results in 2019 with consistent, above-market growth of 6% over prior year,” NuVasive CEO Christopher Barry said in a news release. “In 2020, our primary growth drivers include continuing to lead in lateral spine surgery, further innovation in targeted spine segments and achieving scale in key global markets to drive value and deliver on our long-term commitments.”
NuVasive said it now expects to log adjusted EPS $2.55 to $2.65 in fiscal 2020, and said it projects revenue growth of between 4% and 6%.
NUVA shares were down -5.8% at $74.42 per share in mid-morning trading today.