NuVasive Inc. (Nasdaq: NUVA) posted $5.83 million in net consolidated income on $190.81 million in revenues for the quarter ended Dec. 31, compared with a loss of $2.77 million on $165.75 million in revenues for the like quarter in 2012.
For the year, the medical device firm posted $6.95 million in consolidated net income on $685.2 million in revenues -- compared with $2.44 million in net consolidated income on $620.25 million in revenues for the like period a year earlier.
"The 2013 results clearly demonstrate that NuVasive's market share taking strategy is thriving. Importantly, we are cultivating the drivers that will support top and bottom line growth for many years to come," said Alex Lukianov, chairman and CEO in a statement. "We are leveraging our unrivaled years of experience and research to continue championing the global market conversion toward less invasive spine solutions. And our commitment to innovation has conceived a pipeline that may dwarf all that we have accomplished so far."
Gross profit for the fourth quarter 2013 was $141.5 million and gross margin was 74.1 percent, compared to a gross profit of $123.6 million and a gross margin of 74.5 percent for the fourth quarter 2012. For the third quarter 2013, gross profit was $125.9 million and gross margin was 74.4 percent.
Gross profit for the full year 2013 was $504.7 million and gross margin was 73.7 percent, compared to a gross profit of $466.8 million and gross margin of 75.3 percent for the full year 2012.
Cash, cash equivalents and short and long-term marketable securities were approximately $326 million at Dec. 31, 2013.
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