Spine

Better-than-expected profits lift NuVasive shares

NuVasive reported better-than-expected profit for the second quarter and executives boosted their predictions for full-year earnings as sales surged for the San Diego spine-surgery device maker.

The San Diego company earned $6.7 million, or 17 cents a share, up from $2.8 million, or 7 cents a share, in 2009. Revenue for the quarter was $119.6 million, up 35 percent from a year earlier.

Excluding special charges, the company earned 42 cents a share, well above the 29 cents a share forecast of analysts polled by Thomson Reuters.

NuVasive raised its full-year profit predictions to $1.50 to $1.64 a share from the previous $1.13 to $1.25 a share.

NuVasive shares rose $1.49, or 4.4 percent, to $35.55 in after-hours trading after the results were announced.

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Josh Sandberg

Josh Sandberg is the President of Ortho Spine Partners and Partner for The De Angelis Group. He also serves as Co-Founder and Editor of OrthoSpineNews.

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