NxStage Medical, a manufacturer of dialysis products, has reported net revenue of $44.0m, for the second quarter of 2010 with an increase of 21% when compared with revenue of $36.4m for the second quarter of 2009. The increase was driven by strong performance across the company's three markets including Home, Critical Care and In-Center.
NxStage Medical has posted revenue of $20.8m in Home market for the second quarter of 2010, representing an increase of 37% when compared with revenue of $15.2m for the second quarter of 2009.
The company has reported that Critical Care revenue grew to $6.7m for the second quarter of 2010, an increase of 27% when compared with revenues of $5.2m for the second quarter of 2009.
Revenues of the In-Center market, from the company’s Medisystems business, increased to $16.5m for the second quarter of 2010.
NxStage reported a net loss of $8.3m, or $0.17 per share, for the second quarter of 2010 compared with a net loss of $12.5m, or $0.27 for the second quarter of 2009.
Jeffrey Burbank, chief executive officer of NxStage Medical, said: “Q2 was another great quarter in all respects: we delivered record revenue with all three of our markets outperforming, and Home delivering the strongest growth; achieved positive cash flow and, continued operational execution across all our markets.
“With a strong first half of the year and continuing momentum, we are increasing our projections for sequential growth in Home and raising our revenue guidance for 2010 to a range of revenues between $170 and $175m.”
For the third quarter of 2010, the company is anticipating revenue to be within a range of $43 to $45m. At this revenue level, the company would expect a net loss in the range of $7.5 to $8.5m or $0.15 to $0.18 per share, and Adjusted EBITDA in the range of $0 to $0.5m for the third quarter of 2010.