California medical device maker NuVasive Inc. (NSDQ:NUVA) is flying high today after raising its revenue projections for 2013 amid higher-than-expected 4th quarter sales.
The company expects to report $189 million in revenue for Q4, 14% higher year-over-year, and $683 million for fiscal 2013, NuVasive chairman & CEO Alexis Lukianov told an audience at the J.P. Morgan Healthcare conference this morning.
NUVA shares jumped today, trading 9% higher to $36.80 as of about 1:12 p.m. EST.
"We’re very pleased with the progress that we made over the course of ’13," Lukianov said. "And in ’14 we have our sights set on $725 million in revenue and, as we’ve pledged over several meetings, we anticipate growing our operating margin by about 100 basis points per year."
NuVasive plans to release more details during its earnings call in March, he added.
The 10-year-old surgical devices maker is still aiming to become the 1st "billion-dollar startup," hoping to hit 10-digit revenues but remain nimble and flexible in its culture.
"That means we want to retain the energy and vigor of a startup company but have the resources and discipline of a larger company," Lukianov said this morning. "It’s a unique combination but it’s one that we think is the right way to consider how to get to that next level."
NuVasive also has big plans to "paint the world purple," the company signature color, Lukianov said.
"We are thoughtfully expanding our footprint throughout the world and entering new markets on an ongoing basis," he said. "We’re looking to do that in the major markets where we have the most upside."
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