NuVasive Inc. (NSDQ:NUVA) reported a strong 3rd quarter performance, seeing huge gains compared to 2014 for sales and earnings per share while beating revenue and nearly hitting EPS Street expectations.
NuVasive reported profits of $13 million, or 26¢ per share, on sales of $201 million for the 3 months ended September 30.
That amounts to a massive bottom-line turnaround of nearly 750% from last years $2 million loss for the same period, with sales growth of 5.6%.
Adjusted to exclude 1 time items, earnings per share were 24¢, just slightly under Wall Street’s expectations of 27¢ per share. Revenues squeaked over analysts expectations, coming in $338,000 over the expected $200 million.
“We are pleased to report another strong quarter in which we achieved revenue growth of nearly 8% on a constant currency basis in line with our mid to high single-digit growth goal and profitability that once again significantly outperformed our expectations. By remaining focused on our margin expansion initiatives across the company, we delivered incredibly strong year-over-year growth in non-GAAP operating profit margin and adjusted EBITDA margin, improving 460 and 540 basis points, respectively, while non-GAAP EPS increased nearly 3 and a half times compared to the same quarter last year,” CEO Gregory Lucier said in a press release.
NuVasive reiterated its revenue guidance of approximately $810 million, and upped its EPS guidance from $1.18 to $1.24 and its EBITDA margin from 25.2% to 25.4%.
After hours trading hasn’t budged in response to the new release, falling a meager 0.3% to $47.10 as of 4:58 p.m. EDT.
“Our performance for the quarter was driven by continued strength in the United States and robust growth in certain international geographies where NuVasive is leading with our competitive XLIF technology and differentiated offerings. We remain confident that our unrelenting focus on innovation and technology, increased operational efficiencies, international scalability and our commitment to increased self-manufacturing position NuVasive to be the leader in transforming spine and improving patient outcomes,” Lucier said in prepared remarks.