San Diego Business Journal

NuVasive Stock Climbs; Company Expects Higher Earnings Than Originally Predicted

By Meghana Keshavan Wednesday, January 15, 2014

Shares for NuVasive Inc. rose 8.5 percent in day trading after the San Diego spinal device maker said its fourth-quarter and 2014 earnings would be higher than expected.

The company said it expects revenue of $189 million for the fourth quarter; up 14 percent from the same reporting period a year ago. For the whole year, NuVasive (Nasdaq: NUVA) said revenue would grow 10 percent to $683 million, and projects sales of $725 million in 2014.

NuVasive has scheduled its full-year and fourth-quarter earnings report for March 3.

Shares closed at $36.66 Jan. 15, up $2.88 from the previous day of trading. The company, which makes devices for spinal surgery, has a market capitalization of $1.64 billion.

NuVasive recently announced that it would increase its workforce at a newly acquired plant in Ohio.