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NxStage increases revenue guidance for fourth quarter and full-year 2013
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Dialysis product manufacturer NxStage Medical Inc. increased its revenue guidance for the fourth quarter and fiscal year ended Dec. 31, 2013.
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For the fourth quarter of 2013, the company said it expects to deliver total revenue of approximately $69 million, above the top end of its previously announced guidance range for revenue to be between $67 to $68.5 million. This performance is expected to reflect approximately 12% growth in the home dialysis market when compared with the fourth quarter of 2012, as a result of domestic and international sales.
For the full-year 2013, NxStage said it expects to deliver total revenue of approximately $263 million, above the top end of its previously announced guidance range for revenue to be between $261 to $262.5 million. Annual home dialysis revenue growth for 2013 is expected to be approximately 7.5%, at the top end of the company's previously announced guidance range of 6.5 to 7.5% growth.
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The company also said it expects net loss for the fourth quarter and the full-year 2013 to be within its previous announced guidance ranges of $5 to $6 million and $18.5 to $19.5 million, respectively, subject to adjustments, including recent litigation settlement costs and certain international tax matters.
"As a result of continued traction with our strategic growth initiatives, home revenue increased slightly ahead of our expectations in the quarter and we continue to target 15% annual revenue growth in the home in 2014," said CEO Jeffrey H. Burbank. "We also delivered solid revenue growth across our other businesses consistent with our guidance, and ended the year with over $80 million in cash."
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