NxStage Medical Inc. (NSDQ:NXTM) took another leap along the path to profitability during the second quarter, posting a 20.9 percent revenues increase and shaving losses by 34 percent.
The Lawrence, Mass.-based home hemodialysis products maker reported net losses of $8.3 million, or 17 cents per diluted share, on sales of $44.0 million during the three months ended June 30. That compares with net losses of $12.5 million, or 27 cents per diluted share, during the same period last year.
CEO Jeffrey Burbank said the company grew sales across all three of its divisions (home, critical care and in-center) and put up positive cash flow during the quarter. That prompted NxStage to boost its full-year revenue guidance to between $170 million and $175 million, up from $163 million to $170 million. The company held pat on its forecast for net losses this year, saying it expects them to be between $28 million and $30 million in 2010, or 60 cents to 71 cents per share.
NXTM shares closed June 22 at $13.88, up 5.8 percent.