NuVasive (NASDAQ: NUVA) today reported Q4 earnings that beat the consensus forecast on Wall Street, but it came up short on revenue.
The San Diego–based spine tech company earned $1.7 million, or 3¢ per share, on sales of $291.8 million for the three months ended Dec. 31, 2020, for a bottom-line drop of –94% on a sales decline of –6% compared with Q4 2019.
Adjusted to exclude one-time items, earnings per share were 59¢, 4¢ ahead of The Street, where analysts were looking for EPS of 55¢ on sales of $298.36 million.
“NuVasive continues to see significant impact from COVID-19 on elective surgical procedures and patient sentiment, particularly within the U.S. market, which increased late in the fourth quarter,” NuVasive CEO J. Christopher Barry said in a news release out this evening.
“Against a challenging 2020, we made key investments in infrastructure, talent, and innovation to unlock our ability to fulfill our long-term strategy. We are excited about the acquisition of Simplify Medical to advance our C360 portfolio and the 510(k) submission for the Pulse platform.”