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News Breaks
May 6, 2014
08:36 EDTNUVANuVasive announces favorable resolution of patent lawsuit against Cadwell Labs
NuVasive announced that it reached a settlement agreement with Cadwell Laboratories in a lawsuit involving NuVasive's patented neuromonitoring technology. NuVasive filed the lawsuit in December 2012 asserting that Cadwell infringed on the company's patented neuromonitoring technology, including the integration of nerve monitoring technology during lateral approach spine surgery. As part of the settlement reached between the parties, Cadwell has agreed to exit the lateral spine surgery market, and to no longer provide products, services, or support for lateral approach spine fusion surgeries. In addition, certain of Cadwell's future products may be required to openly attribute intellectual property ownership to NuVasive and may require a 5% fee paid to NuVasive.
News For NUVA From The Last 14 Days
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February 26, 2015
12:15 EDTNUVANuVasive management to meet with Piper Jaffray
Meetings to be held in New York on March 3 and in Denver on March 4 hosted by Piper Jaffray.
February 24, 2015
16:30 EDTNUVANuVasive announces updated Non-GAAP definition
NuVasive announced that it will implement an updated non-GAAP definition in Q1. NuVasive will redefine its non-GAAP cost of goods sold, gross margin, operating expenses, operating margin and earnings per share financial measures from its existing non-GAAP definition to include the impact of non-cash stock-based compensation and certain intellectual property related litigation expenses, both of which had previously been excluded in the company's calculation of these non-GAAP financial measures. In addition to GAAP results, these non-GAAP measures are intended to provide additional information to enable investors to assess the Company's operations in the same way management assesses operations. Management uses non-GAAP measures to budget, evaluate and measure the company's performance and sees these results as an indicator of the company's ongoing business performance. The company believes these changes in non-GAAP reporting increase transparency and better reflect the underlying financial performance of the business. CFO Quentin Blackford said, "This update allows us to provide investors with a meaningful non-GAAP measurement that represents the performance of our core business on a more inclusive, comprehensive basis. Importantly, this change does not impact NuVasive's plan to deliver at least 100 basis points of operating margin expansion each year, as well as improved EBITDA margins for the next several years as we rapidly scale the business in the U.S. and internationally and capture well-identified opportunities to drive profitability."
16:18 EDTNUVANuVasive sees FY15 adjusted EPS approximately $1.10, consensus $1.53
Sees FY15 revenue approximately $810M, consensus $811.03M, which includes an approximate $10M of currency headwinds.
16:16 EDTNUVANuVasive reports Q4 adjusted EPS 39c, consensus 37c
Reports Q4 revenue $204.3M, consensus $201.39M.

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