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nuvasive inc (NK8) Snapshot

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04/3/14 - €28.97
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nuvasive inc (NK8) Details

NuVasive, Inc., a medical device company, develops and markets minimally disruptive surgical products and procedurally integrated solutions for the spine. Its products focus on applications for spine fusion surgery. The company’s principal product offering includes a minimally disruptive surgical platform, known Maximum Access Surgery (MAS) that includes its proprietary software-driven nerve detection and avoidance systems, NVM5 and NVJJB, and intra-operative monitoring (IOM) support; MaXcess, an integrated split-blade retractor system; and various specialized implants. Its spine surgery product line offerings comprise products for the thoracolumbar and the cervical spine, which are primarily used to enable access to the spine and to perform restorative and fusion procedures in a minimally disruptive fashion. The company’s biologic product line offerings used to aid the spinal fusion process or bone healing consist of allograft (donated human tissue); Osteocel Plus, an allograft cellular matrix containing viable mesenchymal stem cells; FormaGraft, a collagen synthetic product; and AttraX, a synthetic bone graft material. It also provides IOM services for insight into the nervous system during spine and other surgeries. In addition, the company is developing proprietary total disc replacement devices, which include XL-TDR, a mechanical total disc replacement for lateral lumbar spine applications; and the PCM device for cervical spine applications. It sells its products through independent sales agencies, directly-employed sales shareowners, and distributors to surgeons and hospitals in the United States and internationally. NuVasive, Inc. was founded in 1997 and is headquartered in San Diego, California.

1,358 Employees
Last Reported Date: 03/3/14
Founded in 1997

nuvasive inc (NK8) Top Compensated Officers

Chairman and Chief Executive Officer
Total Annual Compensation: $900.0K
President and Chief Operating Officer
Total Annual Compensation: $550.0K
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $482.5K
President of Global Products & Services
Total Annual Compensation: $520.0K
Executive Vice President of U.S. Sales
Total Annual Compensation: $375.0K
Compensation as of Fiscal Year 2013.

nuvasive inc (NK8) Key Developments

NuVasive, Inc. Announces an Unfavorable Jury Verdict Relating to its Use of the Trade Name “NeuroVision” in the Amount of $30.0 Million

On April 3, 2014, an unfavorable jury verdict was delivered against NuVasive, Inc. relating to NuVasive’s use of the trade name “NeuroVision” in the amount of $30.0 million. NuVasive strongly disagrees with the verdict and intends to vigorously defend its right to use the “NeuroVision” trademark. The Company intends to file post-trial motions in the U.S. District Court for the Central District of California seeking judgment as a matter of law, and, in the alternative, a new trial. If necessary, the Company intends to appeal the verdict to the Ninth Circuit Court of Appeals. In the event NuVasive’s post-trial motions are denied and judgment is ultimately entered by the District Court, any payment of damages per the judgment will be stayed pending resolution of the appeals process (which could take up to two years). NuVasive has been in litigation with NMP over this matter since September 2009, when NMP initially filed suit. In January 2011, after trial of the matter, the District Court ordered that a judgment against NuVasive be entered in the case in the amount of $60.0 million, plus attorney fees and costs, including a permanent injunction prohibiting NuVasive’s use of the “NeuroVision” name for marketing purposes.

NuVasive, Inc. Presents at Canaccord Genuity Musculoskeletal Conference, Mar-11-2014 08:40 AM

NuVasive, Inc. Presents at Canaccord Genuity Musculoskeletal Conference, Mar-11-2014 08:40 AM. Venue: Sheraton New Orleans Hotel, 500 Canal Street, New Orleans, Louisiana, United States.

NuVasive, Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2013; Provides Earnings Guidance for the Full Year of 2014

NuVasive, Inc. announced unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2013. For the quarter, the company reported revenue of $190,815,000 against $165,754,000 a year ago. Income before income taxes was $8,600,000 against loss before income taxes of $1,726,000 a year ago. Net income was $5,837,000 against net loss of $2,776,000 a year ago. Net income attributable to the company was $6,009,000 or $0.13 diluted per share against net loss attributable to the company of $2,746,000 or $0.06 diluted per share a year ago. Non-GAAP earnings were $17,778,000 or $0.37 per share. Revenue strength was broad-based, each major product group outperformed their targets. For the year, the company reported revenue of $685,173,000 against $620,255,000 a year ago. Income before income taxes was $9,768,000 against $11,256,000 a year ago. Net income was $6,985,000 against $2,442,000 a year ago. Net income attributable to the company was $7,902,000 or $0.17 diluted per share against $3,144,000 or $0.07 diluted per share a year ago. Net cash provided by operating activities was $97,439,000 against $130,082,000 a year ago. Purchases of property and equipment were $47,597,000 against $41,189,000 a year ago. Non-GAAP earnings were $57,358,000 or $1.23 per share. For 2014, the company expects revenue of approximately $725 million, GAAP EPS of approximately $0.11, non-GAAP EPS of approximately $1.06, non-GAAP operating margin of approximately 16%, and GAAP effective tax expense of approximately $19 million, which includes the impact of the Globalization Initiative. The company expects amortization of intangible assets of $0.19 per share for 2014. The company expects non-GAAP gross margin of 76.0% and GAAP gross margin of 76.0%. Non-GAAP operating profit dollars of about 14% in 2014. That represents operating profit growth that is roughly double the expected rate of revenue growth in 2014. Effective tax expense rate of 80% applied to GAAP earnings and 40% applied to non-GAAP adjustments. A portion of this increase can be attributed to the fact that 2013 benefited from several discrete items unique to that year. The rest of the increase in expected 2014 effective tax rate will be driven primarily by the impact of globalization initiative, which is designed to consolidate and standardize the management of International business activities. The company expects to manage free cash flow to be roughly flat with 2013's results. Adjustments result in an expected 2014 non-GAAP EPS growth rate of about 14%, roughly twice the rate of revenue growth.


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