SAN FRANCISCO (Thomson Financial) - NxStage Medical Inc. late Monday reported first-quarter net loss of $13.9 million, or 38 cents a share, narrower than the mean 39-cent loss estimate of analysts polled by Thomson Reuters.
During the year earlier, the net loss was $12 million, or 41 cents a share, the Lawrence, Mass.-based medical device company said.
There were 36.8 million shares outstanding in the latest quarter versus 29 million last year.
Revenue for the three months ended March 31 rose to $31 million from $8.37 million a year ago. Analysts were looking for revenue of $30 million.
NxStage Medical said it expects a second-quarter loss of 37 cents to 40 cents a share on revenue of $30.5 million to $32.5 million. The current consensus estimate is for a per-share loss of 37 cents on revenue of $32.6 million.
For full-year 2008, the company said it expects a loss of $1.41 to $1.52 a share on revenue of $130 million to $135 million. Analysts expect a per-share loss of $1.42 on revenue of $133.9 million.
The company also reduced its projection for the number of its home hemodialysis patients at the end of 2008. It now expects to end the year with 3,100 to 3,500 patients on the System One.
The company's stock closed the regular session up 29 cents, or 4.5%, at $6.74. Katherine Hunt kh COPYRIGHT Copyright Thomson Financial News Limited 2007. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.