NxStage shares lift on Q4, FY2016 earnings release

Shares in NxStage Medical (NSDQ:NXTM) rose today after the medical device maker met expectations on Wall Street with its 4th quarter and full year 2016 earnings results.

The Lawrence, Mass.-based company posted losses of $2.4 million, or 2¢ per share on sales of $93 million for the 3 months ended Dec. 21, seeing bottom-line losses shrink 13.6% while sales grew 3.6% compared with the same period last year.

Earnings per share were exactly on target with expectations on The Street, where analysts were expecting to see sales of $91.8 million.

For the full year, NxStage posted losses of $4.3 million, or 7¢ per share, on sales of $366.4 million, with bottom-line losses shrinking 70.7% while sales grew 9% compared to its fiscal year 2015.

Earnings per share were 1¢ ahead of expectations on Wall Street, where analysts were expecting to see sales of $365.2 million.

“NxStage had a terrific fourth quarter, finishing off a great 2016.  It’s an exciting time at NxStage. Our focus on innovation and execution is delivering the results we talked about and setting the foundation for the next wave of growth. Most importantly, we believe our efforts are having a positive impact on patient lives. We expect this momentum to continue in 2017. For the fourth consecutive year we’re targeting 15% annual home revenue growth, above market growth in critical care and solid top line revenue growth for the total company. We’re also guiding to total company profitability in 2017. We’re excited about 2017 and are pleased to see our product pipeline development efforts continue to progress. We have many milestones on the horizon, including the introduction of our PD system targeted for the end of this year. We look forward to another great year,” founder & CEO Jeff Burbank said in a press release.

NxStage said it expects to post sales of between $95 and $97 million for the upcoming 1st quarter of 2017, with between $400 and $405 million for the full year. The company said it expects positive net income for its FY2017, with a net loss between $1 and $3 million in the 1st quarter.

Shares in NxStage lifted today, up 2.6% to close at $29.29.

The post NxStage shares lift on Q4, FY2016 earnings release appeared first on MassDevice.

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