Nxstage Medical, Inc. (NXTM: Quote) reported net loss of $5.1 million or $0.09 per share for the second quarter compared to the loss of $5.6 million or $0.10 per share last year.
According to the company, net loss for the second quarter of 2012 includes the impact of $1.0 million for the write-off of unamortized debt discount related to the Asahi debt conversion that occurred in May 2012.
Quarterly revenues rose 10% to $59.0 million from $53.8 million in the previous year. The higher revenues were driven by increased adoption of the NxStage System One, the company noted.
Analysts polled by Thomson Reuters expected the company to report a loss of $0.09 per share on revenues of $58.32 million for the quarter. Analysts' estimates typically exclude special items.
Going ahead, for the third quarter of 2012, Nxstage Medical expects revenues to be between $60.0 million and $61.0 million. Besides, net loss is expecetd to be in the range of $3.5 million to $4.5 million, or $0.06 to $0.08 per share. Analysts expect the company to report a loss of $0.05 per share on revenues of $61.93 million for the quarter.
The company also reaffirmed its full year 2012 guidance, which includes Asahi dialyzer sales.
Additionally, Nxstage Medical announced that the European regulatory authority has approved a new feature to automate the administration of bolus for use in the EU.
Jeffrey Burbank, chief executive officer, said, "This approval enables us to further advance the simplicity and safety of the System One in Europe. This is an amazing accomplishment to be able to take tap water, purify it, add concentrate, filter it, and infuse it; effectively our system produces fluid similar to that produced in a pharmaceutical plant right in a patient's home from tap water."
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by RTT Staff Writer
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