This article is more than 5 years old. Information may no longer be current.
NxStage exceeds guidance range in Q1 revenue for 2014
Click Here to Manage Email Alerts
Dialysis product manufacturer NxStage Medical Inc. reported revenue for the first quarter of 2014 increased 17% to $72.2 million, compared with revenue of $61.6 million in the same quarter last year. The company exceeded its revenue guidance range of $69.5 to $70.5 million for the first quarter of 2014. NxStage attributed the increase to strong sales of itsSystem One hemodialysis machine in both the home dialysis and critical care markets.
Home dialysis revenue increased 16% to $36.5 million for the first quarter of 2014, compared with revenue of $31.5 million for the first quarter of 2013.
Critical care revenue increased 37% to $14.7 million for the first quarter of 2014, compared with revenue of $10.7 million in the same quarter last year, reflecting stronger-than-anticipated disposable and equipment sales. In-center revenue increased to $18.9 million for the first quarter of 2014, compared with revenue of $18.7 million for the first quarter of 2013.
Related: NxStage to expand into peritoneal dialysis, open more care centers in 2014
NxStage reported a net loss of $5.3 million, or $0.09 per share, for the first quarter of 2014 compared with a net loss of $5 million, or $0.08 per share, for the first quarter of 2013. Higher revenues and favorable product mix resulted in a better-than-expected net loss for the first quarter of 2014, which the company projected to be in a range of $7.5 to $6.5 million.
"NxStage had a strong start to the year and exceeded our guidance across all key metrics," said Jeffrey H. Burbank, founder and Chief Executive Officer of NxStage. "The progress we are making on our near term growth drivers is reflected in both strong growth across our business and increasing demand for our innovative new products with patients and customers. Our strategic growth initiatives remain solidly on track and we believe they are positioning the Company toward our goal of 15% annual home revenue growth in 2014."
"After a strong first quarter, we believe we are trending towards the higher end of our annual revenue guidance which was originally set to be between $283 million and $288 million," stated Matthew W. Towse, Chief Financial Officer. "Looking ahead to the second quarter, we expect revenue to be between $70.0 million and $71.5 million, and a net loss in the range of $7.5 million to $6.5 million."