NxStage Medical (NSDQ:NXTM) pared its losses and added to the top lines for the 4th quarter and full year.
The Lawrence, Mass.-based home hemodialysis system maker reported losses of $4.6 million, or 8 cents per share, on sales of $57.0 million for the 3 months ended Dec. 31, 2011, narrowing its losses by 27.5% and adding 14.6% to the top line, compared with Q4 2010.
For the full year, NxStage posted losses of $21.4 million, or 39 cents per share, on sales of $217.3 million, cutting losses by 32.5% and adding 21.2% to its revenues.
“Entering 2012, I believe that we have good underlying market fundamentals, a strong balance sheet, a solid operating model, as well as the deepest product pipeline in our company’s history. We see significant opportunities to advance our long-term growth strategy and remain confident in our ability to deliver continued improvement and meaningful growth,” CEO Jeffrey Burbank said in prepared remarks.
NxStage earned a big win this month, Burbank said, noting that the nation’s largest health insurer, UnitedHealthcare, approved reimbursement for more frequent home dialysis treatments.
“We applaud UnitedHealthcare for their leadership in providing greater access to the life-changing benefits possible with our therapy. This is an exciting and important step forward in our efforts to make reimbursement simple, predictable and appropriate across all payers, including Medicare,” he said.
NxStage said it expects to log Q1 revenues of between $56.0 million and $57.0 million, with net losses ranging between $5.0 million and $6.0 million, or 9 cents to 11 cents per share. Full-year sales are forecast to reach the $240 million to $245 million mark, with losses of between $14.0 and $18.0 million, or 25 cents to 32 cents per share.