Better-than-expected profits lift NuVasive shares

NuVasive reported better-than-expected profit for the second quarter and executives boosted their predictions for full-year earnings as sales surged for the San Diego spine-surgery device maker.

The San Diego company earned $6.7 million, or 17 cents a share, up from $2.8 million, or 7 cents a share, in 2009. Revenue for the quarter was $119.6 million, up 35 percent from a year earlier.

Excluding special charges, the company earned 42 cents a share, well above the 29 cents a share forecast of analysts polled by Thomson Reuters.

NuVasive raised its full-year profit predictions to $1.50 to $1.64 a share from the previous $1.13 to $1.25 a share.

NuVasive shares rose $1.49, or 4.4 percent, to $35.55 in after-hours trading after the results were announced.

Josh Sandberg

Josh Sandberg is the President and CEO of Ortho Spine Partners and sits on several company and industry related Boards. He also is the Creator and Editor of OrthoSpineNews.

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