NxStage slumps despite Q1, FY2015 beats

NxStage saw shares plummet after releasing earnings that barely squeaked by Street expectations for their 4th quarter and full fiscal year 2015. The Lawrence, Mass.-based company reported losses of $2.8 million, or 4¢ per share, on sales of $89.8 million for the 3 months ended December 31. That amounts to a 43.7% reduction in losses for the company as sales grew 12.4% compared with the same period in 2014. Analysts on Wall Street were looking for losses per share of 4¢, right on target with the reported losses, and revenues of $86.8 million, which the company beat. For the year, NxStage reported losses of $14.6 million, or 24¢ per share, on sales of $336.1 million for the fiscal year ended December 31. The company saw losses for the year shrink 34.1% as its sales grew 11.5%. The street was hoping to see losses of 23¢ per share, which the company beat, and revenue of $336.8 million, which NxStage was just under. In response, shares dropped 14.2% to close at $15.16 today. “It was a strong year for NxStage. We’re very pleased to again exceed our guidance on revenue, narrow our net loss and deliver a year of increasing profitability in our products business. We have a rich portfolio of current products that are expected to drive continued growth within home and critical care, our largest high growth markets, in 2016 and beyond. In addition, we continue to advance our innovative pipeline, including our next generation hemodialysis system, our new peritoneal dialysi...
Source: Mass Device - Category: Medical Equipment Authors: Tags: Business/Financial News MassDevice Earnings Roundup NxStage Medical Inc. Source Type: news