NuVasive (NUVA) Issues FY16 Revs Slightly Above the Street; FY17 Roughly In-Line

NuVasive (NASDAQ: NUVA) provided a financial performance update, including the announcement of select preliminary unaudited financial results for the full year ended December 31, 2016 and select financial performance guidance for the full year 2017.

“We are pleased to deliver stronger than expected preliminary results for 2016, demonstrating strength across all geographies, and are excited about our outlook for 2017,” said Gregory T. Lucier, chairman and chief executive officer of NuVasive. “We remain committed to our longer-term financial performance goals and strategic initiatives that are expected to drive the Company’s revenue growth and operating margin expansion targets, while continuing to transform healthcare with game-changing technologies.”

Full Year 2016 Preliminary Results

NuVasive anticipates full year 2016 revenue will be approximately $956 million, reflecting 17.9% year-over-year growth, or 17.6% on a constant currency basis (*** cons is $952.24 million). Full year 2016 pro forma revenue, assuming acquisitions are included in the Company’s financial results for the entire fiscal year, is expected to grow 8.7% on a constant currency basis. NuVasive anticipates preliminary fourth quarter 2016 revenue performance of approximately $265 million. Additionally, the Company expects full year 2016 non-GAAP operating profit margin will be in line with previous guidance of 16.0%.

Full Year 2017 Outlook

NuVasive expects full year 2017 revenue will be approximately $1.065 billion, reflecting 11.4% year-over-year growth, or 12.4% on a constant currency basis (*** cons is $1.07 billion). Full year 2017 pro forma revenue, assuming acquisitions are included in the Company’s financial results for the entire fiscal year, is expected to grow 8.7% on a constant currency basis, in line with the high single-digit long-term organic revenue growth target that the Company communicated previously. Revenue guidance for the full year 2017 includes approximately $10 million in year-over-year currency headwinds. Additionally, NuVasive expects full year 2017 non-GAAP operating profit margin expansion of approximately 100 basis points compared to full year 2016.

NuVasive will provide detailed financial performance guidance for the full year 2017 when the Company announces its complete financial and operating results for its fourth quarter and the full year ended December 31, 2016, which is expected to be issued on February 9, 2017.

You May Also Be Interested In

• Ford (F) earnings beat estimates in Q1, revenue falls short; stock up
• Celestica (CLS) Tops Q1 EPS by 14c
• ServiceNow (NOW) stock falls as refreshed subscription outlook trails estimates