NxStage posts narrower 3Q loss as sales increase
Dialysis products maker NxStage Medical Inc. posted a smaller third-quarter loss Thursday, reporting greater demand from the at-home and critical care markets.
The company said it pared its loss to $8.2 million, or 17 cents per share, from $10 million, or 22 cents per share, one year ago. Revenue grew 18 percent to $45 million from $38 million.
Analysts expected a loss of 16 cents per share and $44.5 million in revenue, according to Thomson Reuters.
NxStage said its home care revenue rose 37 percent to $22.3 million, and critical care revenue grew 20 percent to $6.8 million. In-center revenue was $15.9 million, down slightly from last year.
The company said it expects to lose between 13 and 16 cents per share in the fourth quarter, down from 19 cents per share in the fourth quarter of 2009. NxStage is forecasting $45 million to $47 million in revenue, up from $40.5 million a year earlier. Analysts expect a loss of 13 cents per share and revenue of $46.7 million on average.
NxStage stock rose 79 cents, or 3.8 percent, to $21.56 in midday trading. Earlier the stock hit a 52-week high of $22.24.