Local spinal device maker NuVasive beats a billion in revenue

NuVasive cut the ribbon last July on what it called the “largest and most advanced spine medical device factory in the world” in West Carrollton. THOMAS GNAU/STAFF

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NuVasive cut the ribbon last July on what it called the “largest and most advanced spine medical device factory in the world” in West Carrollton. THOMAS GNAU/STAFF

NuVasive, Inc., which has a spine technology manufacturing center in West Carrollton, saw revenue rise to more than $1 billion in 2017.

For the fourth quarter of 2017, revenue remained flat at $271.7 million compared to 2016.

But the full year was strong, with revenue rising to $1,029.5 million, up seven percent.

“2017 was a milestone year for NuVasive as we surpassed the $1 billion revenue mark driven by impressive international sales growth of more than 20 percent, and achieved record profitability of 18.2 percent non-GAAP operating margins in the fourth quarter,” Gregory Lucier, chairman and chief executive of NuVasive, said in a statement.

NuVasive reported fourth quarter 2017 total revenue of $271.7 million, edging the $271.1 million reported for the fourth quarter 2016.

For the fourth quarter 2017, gross profit on a GAAP (Generally Accepted Accounting Principles) basis was $196.3 million and net income was reported at $24 million, or 46 cents per share.

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That compares to net income of $6.4 million, or 11 cents per share, for the fourth quarter 2016.

Gross profit for the full-year 2017 was $760.5 million, besting gross profit of $722 last year.

The company reported net income on the year of $83 million, or $1.50 per share, for the full year 2017 compared to net income of $37.1 million, or 69 cents per share, for the full year 2016.

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