NuVasive 1Q Loss Narrows On Revenue Boost

SAN DIEGO (AP) — Medical device company NuVasive Inc. said Wednesday its first-quarter loss narrowed on a boost in revenue from a range of the company's surgical products for spine disorders.

The company lost $4.3 million, or 12 cents per share, compared with a loss of $7.7 million, or 22 cents per share, during the same period a year prior. Revenue rose 56 percent to $80 million from $51.2 million.

Excluding charges for litigation and buyouts, the company said it lost 2 cents per share. Analysts polled by Thomson Reuters expected a loss of 20 cents per share on revenue of $74.8 million.

A key product for the company is a stem cell bone graft product from its Osteocel unit, which the company bought from Osiris Therapeutics in the third quarter of 2008.

"We are exceptionally pleased with our financial performance in the first quarter of 2009, specifically our increased profitability, which shows how NuVasive's continued revenue growth translates to earnings growth," said Chairman and Chief Executive Alex Lukianov, in a statement.