NuVasive Sees FY17 Revenue In Line With Prior Guidance - Quick Facts

(RTTNews) - NuVasive, Inc. (NUVA), a spine technology innovation company, announced preliminary unaudited revenue results for the fourth quarter and full-year 2017. The company forecast revenue for fiscal 2017 in line with its earlier guidance.

NuVasive expects fourth-quarter 2017 revenue to be approximately $272 million, and full-year 2017 revenue to be approximately $1.03 billion and in line with the guidance provided on October 24, 2017.

On average, analysts polled by Thomson Reuters expect the company to report revenues of $272.86 million for the fourth quarter and revenues of $1.03 billion for fiscal 2017. Analysts' estimates typically exclude special items.

NuVasive noted that its preliminary revenue results for full-year 2017 reflect about 7 percent growth on a reported and constant currency basis, compared to revenue of $962 million for 2016.

When NuVasive updated its full-year 2017 financial guidance on October 24 to reflect third-quarter 2017 results, the company assumed international revenue growth of over 20 percent, a lingering impact of Hurricane Maria in Puerto Rico in the fourth quarter, and softer U.S. procedural volumes continuing into the fourth quarter. The company said these assumptions have remained unchanged.

NuVasive will report full-year 2017 financial results and provide its full financial outlook for 2018 during its earnings announcement planned for mid-February.

For fiscal 2018, NuVasive provided a preliminary outlook that includes full year revenue growth in the mid-single digits over 2017 revenue results, at least 100 basis points of expansion in adjusted operating margin, adjusted EBITDA now in a range of about $290 million to $300 million, and a substantial tax savings resulting from the tax reform legislation passed late in 2017.

NuVasive said that when it provides its full financial outlook for 2018, the company will include the expected financial impact of its acquisition of SafePassage.