NxStage® Medical, Inc. (Nasdaq: NXTM), a leading manufacturer of innovative dialysis products, today reported record financial results for the three and twelve months ended December 31, 2013, that include revenue slightly above its recent guidance.
Revenue for the full-year 2013 increased 9 percent to $263.4 million, compared with revenue of $242.1 million for the full-year 2012. Revenue for the fourth quarter of 2013 increased 7 percent to a record $69.4 million compared with revenue of $65.0 million for the fourth quarter of 2012. The increase in both periods was led by the Company's solid performance in the Home.
Home delivered 8 percent annual growth, with revenue increasing to $132.9 million for the full-year 2013 compared with revenue of $123.6 million for the full-year 2012. Home revenue increased to $35.1 million in the fourth quarter of 2013 compared with revenue of $31.4 million in the fourth quarter of 2012, representing a 12 percent increase.
Critical Care delivered 11 percent annual growth, with revenue increasing to $43.8 million for the full-year 2013 compared with revenue of $39.5 million for the full-year 2012. Revenue in Critical Care increased to $11.6 million in the fourth quarter of 2013, compared with revenue of $11.3 million in the fourth quarter of 2012, representing a 3 percent increase.
The Company's in-center business, Medisystems, delivered 6 percent annual growth with revenue increasing to $81.9 million for the full-year 2013, compared with revenue of $76.9 million for the full-year 2012. Fourth quarter 2013 revenue was $20.6 million, compared with $21.5 million in the fourth quarter of 2012.
NxStage reported a net loss of $18.6 million or $(0.31) per share for the full-year 2013 compared with a net loss of $15.2 million or $(0.26) per share for the full-year 2012. The Company reported a net loss of $5.2 million or $(0.08) per share for the fourth quarter of 2013 compared with a net loss of $2.4 million or $(0.04) per share for the fourth quarter of 2012. The Company's net loss for 2013 reflects a nearly $6 million impact from our market development activities with NxStage Kidney Care.
"At the start of 2013, we placed a major focus on growth and investment to take advantage of the significant opportunity in front of us and create long term shareholder value," stated Jeffrey H. Burbank, Founder and Chief Executive Officer of NxStage. "We made great progress across a number of key areas as evidenced by early positive momentum with our direct to patient marketing and solid execution on our innovation pipeline."
