NxStage Medical trims loss; sales up
LAWRENCE - NxStage Medical Inc. yesterday reported a narrower fourth-quarter loss on higher margins and a 19 percent gain in sales.
The medical device maker posted a loss of $9.8 million, or 21 cents per share, compared with a loss of $17.4 million, or 47 cents per share, in the same quarter last year.
Sales rose 19 percent to $35.7 million from $29.9 million.
Analysts polled by Thomson Reuters expected a loss of 27 cents per share and sales of $33.8 million.
Gross margin improved to 20 percent, while total operating expenses jumped to $18.3 million from $17.8 million.
For the full year, the company posted a loss of $51.2 million, or $1.23 per share, compared a loss of $58.4 million, or a $1.86 per share, a year earlier.
Sales more than doubled to $128.8 million from $60 million, helped by gains in the home and critical care markets.
Looking ahead, the company forecast a first-quarter loss between 27 cents and 29 cents per share, partly because of a tough economy.