NuVasive swings to Q4, 2011 red | Earnings Roundup

NuVasive (NSDQ:NUVA) swung to red for the 4th quarter and full-year 2011, largely on the back of an $18.2 million writedown of intangible assets.

The San Diego-based spinal implant maker posted a loss of $10.0 million, or 24 cents per share, on sales of $150.2 million for the 3 months ended Dec. 31, 2012. That’s a top-line gain of 16.2% compared with Q4 2010, when NuVasive posted profits of $61.9 million, or $1.39 EPS.

For the full year, the company reported losses of $69.8 million, or $1.73 per share, on sales of $540.5 million, a revenue increase of $13.0% compared with the prior year, when NuVasive reported profits of $78.3 million, or $1.85 EPS, on sales of $478.2 million.

Excluding 1-time items, adjusted earnings for the 4th quarter reached $11.4 million, or 27 cents per share. Adjusted earnings for the full year were $43.9 million, or $1.07 per share.

“Our financial performance in 2011 attests to the exceptional execution of our market-share taking strategy, which drove revenue growth of 13% within a challenged US spine market that did not grow," chairman & CEO Alex Lukianov said in prepared remarks. "As the spine market shifts toward more minimally invasive procedures, NuVasive is ready to further penetrate the market and we expect to again lead the industry in market share gains in 2012. Normalized for the full-year impacts of certain 2011 events, we expect to improve the operating profile of our business in 2012, with a pre-tax earnings growth rate nearly 2 times the rate of revenue growth. Through the breadth of our procedural offerings, increased global expansion, and continued focus on superior clinical outcomes, we are well positioned to achieve our longer-term goal of becoming the #3 company in spine, with $1 billion in revenue and a greatly improved profitability profile.”

NuVasive said it expects to post revenues of about $615 million this year, with EPS of 9 cents and adjusted EPS of 93 cents.

Lukianov told analysts on a conference call that the company is eager to move on with an appeal of its $101.2 million loss to Medtronic (NYSE:MDT) in a patent infringement care last year.

"Things have largely gone as anticipated on our end, so we can’t really speculate as to how of that is all going to shake out," Lukianov said. "But were optimistic and excited to get to the point of starting the appellate process."

NUVA shares were trading at $15.01 as of about 12:20 today, down 2.9% on the day.

MassDevice keeps a close eye on public medical device companies, tracking their quarterly sales and earnings reports. For the most recent filings, check out our Earnings Roundup, where we collect each quarter’s reports.

Here’s a quick rundown of a few releases over the past couple days:

 CardioNet soars on Street-beating Q4 results
Cost-cutting efforts helped CardioNet (NSDQ:BEAT) top Wall Street’s expectations for the 4th quarter, despite slipping sales for its mobile cardiac outpatient telemetry systems.

The Conshohocken, Pa.-based heart monitor maker posted losses of $49.8 million, or 2.03 cents per share, on sales of $26.8 million for the 3 months ended Dec. 31., and losses of $61.4 million, or $2.51, on losses of $119 million for full-year 2011.

That compares with losses of $26.8 million, or 20 cents per share, on sales of $28.7 million during the 4th quarter in 2010, and losses of $19.9 million, or 82 cents per share, on sales of $199.9 million during for the full year 2010. Read more

 Volcano beats The Street but guides low for 2012

Volcano Corp. (NSDQ:VOLC) blew away analysts’ expectations for the 4th quarter and 2011, but lost some love on Wall Street over its low guidance for 2012.

The San Diego-based cardiac monitoring company posted profits of $29.4 million, or 54 cents per diluted share, on sales of $92.7 million for the 3 months ended Dec. 31 and full-year profits of $38.1 million, or 70 cents per diluted share, on sales of $343.5 million.

That compares with Q4 2010 losses of $1.7 million, or 3 cents per share, on sales of $81.2 million and profits of $5.2 million, or 10 cents per diluted share, on sales of $185.3 million for the full year. Read more

 Teleflex tanks on missed Q4, 2011 earnings
Teleflex shares (NYSE:TFX) took a hit this morning after the medical device maker missed Wall Street’s profit expectations, despite raising both its top and bottom lines.

The Limerick, Pa.-based company posted profits of $167.8 million, or $1.02 per diluted share, on sales of $411.7 million during the 3 months ended Dec. 31, 2011. That’s a bottom-line gain of 107% and a top-line addition of 6.6%, compared with profits of $81.1 million, or 33 cents diluted EPS, on sales of $386.3 million for Q4 2010.

For the full year, Teleflex posted profits of $323.3 million, or $2.96 diluted EPS, on sales of $1.53 billion, up 60.8% and 6.7%, respectively, compared with profits of $201.1 million, or $2.21 diluted EPS, on sales of $1.43 billion during 2010.
Read more

 Theragenics sales, earning slide in Q4
Theragenics Corp. (NYSE:TGX) saw shrinking sales in the in the 3 months ended Dec. 31, 2011, but full-year earning soared for 2011.

The Buford, Ga.-based -based device maker posted profits of $280,000, or 1 cent per diluted share, on sales of $19.9 million for its 4th quarter and profits of $3.1 million, or 9 cents per diluted share, on sales of $82.7 million for the full year 2011.

That compares with Q4 2010 profits of $373,000, or 1 cent per diluted share, on sales of $20.7 million and full year 2010 profits of $2.1 million, or 6 cent per diluted share, on sales of $82.2 million. Read more

 ArthroCare slips into the red
ArthroCare Corp. (NSDQ:ARTC) slipped into the red in the 4th quarter and full year 2011.

The Austin, Texas-based company posted losses of $29.3 million, or $1.06 per share, on sales of $92.4 million for the 3 months ended Dec. 31, 2011 and losses of $4.3 million, or 23 cents per share, on sales of $345.9 million for the full year 2011.

That compares with Q4 2010 profits of $10.1 million, or 30 cents per diluted share, on sales of $92.6 million and full-year 2010 profits of $33.8 million, or $1.03 per diluted share, on sales of $355.4 million. Read more

 VirtualScopics breaks out of the red in 2011
VirtualScopics (NSDQ:VSCP) broke into the black 2011.

The company posted profits of $$1.1 million on sales of $3.1 million for the 3 months ended Dec. 31, 2011 and profits of $654,000, or 2 cents per diluted share, on sales of $13.1 million for the full year.

That compares with Q4 2010 losses of $1.6 million, or 6 cents per share, on sales of $3.2 million and full-year 2010 losses of $800,000, or 3 cents per share, on sales of $12.3 million. Read more

 Digirad widens losses in Q4
Digirad (NSDQ:DRAD) sank deeper into the red in its 4th quarter of 2011 but narrowed losses for the full year.

The Poway, Calif.-based company posted losses of $2.8 million, or 15 cents per share, on sales of $11.9 million for the 3 months ended Dec. 31, 2011, and losses of $3.3 million, or 18 cents per share, on sales of $53.7 million for the full year.

That compares with Q4 2010 losses of $559,000, or 3 cents per share, on sales of $14.7 and full-year 2010 losses of $6.2 million, or 33 cents per share, on sales of $56.2 million. Read more

 Fresenius sales, earning rise in Q4, full year 2010
Fresenius Medical Care (NYSE:FMS) posted strong growth in sales and earning for the 4th quarter and full year 2010.

The device company posted profits of $310,000, or $1.02 per diluted share, on sales of $3.3 million for the 3 months ended Dec. 31, 2011 and full-year profits of $1.1 million, or $3.54 per diluted share, on sales of $12.8 million.

That compares with Q4 2010 profits of $271,000, or 90 cents diluted share, on sales of $3.2 million and full year 2010 profits of $979,000, or $3.25 per diluted share, on sales of $12.1 million. Read more

 Symmetry slips into the red in Q4
Symmetry Medical (NYSE:SMA)  saw slipped into the red in its 4th quarter 2011.

The Warsaw, Ind.-based orthopedics company posted losses of $3.2 million, or 9 cents per share, on sales of $84.5 million for the 3 months ended Dec. 31, 2011 and profits of $2.9 million, or 8 cents per diluted share, on sales of $359 million for the full year.

That compares with Q4 2010 profits of $4.3 million, or 12 cents per diluted share, on sales of $96 million and full year 2010 profits of $14 million, or 39 cents per diluted share, on sales of $361 million. Read more

 Endologix posts losses for 4th quarter, full year 2011
Endologix Inc. (NSDQ:ELGX) sank into the red in the 4th quarter and full year 2011.

The Irvine, Calif.-based company posted losses of $3.7 million, or 6 cents per share, on sales of $23.4 million for the 3 months ended Dec. 31, 2011 and losses of $28.7 million, or 51 cents per share, on sales of $83.4 million for the full year.

That compares with Q4 2010 profits of $11.7 million, or 22 cents per diluted share, on sales of $19.2 million and full-year 2010 profits of $10.7 million, or 21 cents per diluted share, on sales of $67.3 million. Read more

 Hansen posts narrowed losses
Hansen Medical Inc. (NSDQ:HNSN) narrowed losses in its 4th quarter and full year of 2010.

The device maker posted losses of $9.5 million, or 16 cents per share, on sales of $6.2 million for the 3 months ended Dec. 31, 2011 and losses of $16.7 million, or 30 cents per share, on sales of $22.1 million for the full year.

That compares with Q4 2010 losses of $11 million, or 20 cents per share, on sales of $3.5 million and full-year 2010 losses of $37.9 million, or 78 cents per share, on sales of $16.6 million. Read more

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