NxStage Medical (NSDQ:NXTM) shares are up more than 5% today after the medical device company reported 1st-quarter sales growth and lower losses and affirmed its outlook for the rest of 2013.
The Lawrence, Mass.-based home hemodialysis company reported losses of $5.0 million, or 8¢ per share, on sales of $61.6 million during the 3 months ended March 31. That’s top-line growth of 8.2% and a loss reduction of 2.9% compared with Q1 2012.
The results in squarely in line with both NxStage’s own forecast and expectations on Wall Street. NXTM shares were trading at $11.29 as of about 2:40 p.m. today, up 5.7%.
"Our 1st-quarter performance represents a good start to the year," founder & CEO Jeffrey Burbank said in prepared remarks. "Our recent regulatory successes which include approval for a number of significant product innovations, including CE mark for nocturnal home dialysis and both CE Mark and FDA clearance for our new high flow capabilities with our System One, reinforce our confidence in our ability to reduce barriers to home adoption and drive demand for our therapy."
NxStage affirmed its 2013 forecast for sales of $265 million to $270 million and net losses of $13 million to $17 million (or -22¢ to -28¢ per share). Second-quarter sales are pegged at $64.0 million to $65.5 million, with net losses between $4.0 million and $5.0 million, or -7¢ to -8¢ per share.
