Anticipates Full Year 2009 Revenue of Approximately $370 Million Announces Full Year 2010 Revenue Guidance of $480 Million to $500 Million
SAN DIEGO, Jan. 29 /PRNewswire-FirstCall/ -- NuVasive, Inc. , a medical device company focused on developing products for minimally disruptive surgical treatments for the spine, today announced preliminary unaudited financial results for the full year ended December 31, 2009.
The Company reiterated 2010 revenue guidance of 30% - 35% growth, or $480 million to $500 million in revenues, and 2010 full year non-GAAP operating margin guidance of approximately 17%, expanding to approximately 20% in the fourth quarter of 2010. Non-GAAP operating margin guidance excludes stock based compensation, amortization of intangibles, intellectual property litigation costs, and acquisition related charges.
Alex Lukianov, Chairman and Chief Executive Officer, said, “We are pleased with the revenue growth and solid earnings leverage demonstrated in 2009, and we are very excited about the outlook for NuVasive in 2010. All of our products continue to gain market share as surgeon adoption expands. This week at the NuVasive Sales Meeting we look forward to recognizing our top performers and encouraging continued outstanding results in 2010.”
NuVasive’s principal product offering is based on its Maximum Access Surgery, or MAS(R) platform. The MAS platform combines four categories of products that collectively minimize soft tissue disruption during spine surgery with maximum visualization and safe, easy reproducibility for the surgeon: NeuroVision(R), a proprietary software-driven nerve avoidance system; MaXcess(R), a unique split-blade retractor system; a wide variety of specialized implants; and several biologic fusion enhancers. MAS significantly reduces surgery time and returns patients to activities of daily living much faster than conventional approaches. Having redefined spine surgery with the MAS platform’s lateral approach, known as eXtreme Lateral Interbody Fusion, or XLIF(R), NuVasive has built an entire spine franchise. With over 50 products today spanning lumbar, thoracic and cervical applications, the Company will continue to expand and evolve its offering predicated on its R&D focus and dedication to outstanding service levels supported by a culture of Absolute Responsiveness(R).
NuVasive, Inc.
