NuVasive increased revenue in the first quarter of 2015 ahead of launching a new sagittal alignment-focused system.
Here are 10 things to know:
1. NuVasive increased revenue 8.4 percent to $192.4 million in the first quarter.
2. The company's Non-GAAP operating profit margin is 12.6 percent.
3. The Non-GAAP net income was $15.1 million and GAAP net income is $31.6 million.
4. GAAP gross profit in the first quarter was $146.7 million, up from $134.2 million over the same period last year.
5. Operating expenses were down in the first quarter, driven by a $56.4 million gain related to partial reversal of the accrual related to the Medtronic litigation liability.
6. GAAP net loss was $18.3 million, or $0.40 per share, in the first quarter.
7. NuVasive updated the full year guidance of the revenue approximately at $810 million, which includes $12 million of currency headwinds versus the prior expectation of around $10 million currency impact for 2015.
8. Full year 2015 GAAP earnings per share is projected at $1.12, compared to GAAP loss per share of $0.36 for 2014.
9. The company reached an agreement in the principle with the U.S. Department of Justice related to the ongoing investigation by the Office of the Inspector General of the Department of Health and Human Services related to an ongoing Medtronci patent lawsuit.
10. NuVasive launched the Integrated Global Alignment platform with a focus on their proprietary, procedurally-integrated, digital platform of products designed for surgeons to achieve more precise spinal column alignment.