San Diego-based NuVasive put up profits of $6.0 million, or 13¢ per share, on sales of $190.8 million for the 3 months ended Dec. 31, 2013, compared with losses of -$2.7 million during Q4 2012. That amounts to a 15.1% top-line gain to boot.
Adjusted to exclude 1-time items, earnings per share were 37¢, a full nickel ahead of estimates on The Street.
Full-year profits were $7.9 million, or 17¢ per share, on sales of $685.2 million, for profit growth of 151.3% on sales growth of 10.5% compared with 2012.
"2013 results clearly demonstrate that NuVasive’s market share taking strategy is thriving. Importantly, we are cultivating the drivers that will support top and bottom line growth for many years to come. We are leveraging our unrivaled years of experience and research to continue championing the global market conversion toward less invasive spine solutions. And our commitment to innovation has conceived a pipeline that may dwarf all that we have accomplished so far. Onward and Upward!" chairman & CEO Alex Lukianov said in prepared remarks.
NuVasive said it expects to report EPS of about 11¢ on sales of roughly $725 million this year, with adjusted EPS of $1.26.
NUVA shares were trading at $39.65 apiece as of about 3:50 p.m. today, up 7.5%.