Key Developments For NuVasive, Inc.
NuVasive, Inc. (NUVA.O) (Nasdaq)
NuVasive, Inc. Appoints New Chief Financial Officer
NuVasive, Inc. announced the appointment of Michael J. Lambert as Executive Vice President and Chief Financial Officer, effective November 9, 2009.
Osiris Therapeutics, Inc. Achieves $15 Million Payment From NuVasive, Inc.
Osiris Therapeutics, Inc. announced that it has achieved a $15 million payment from NuVasive, Inc. related to the sale of the Osteocel business. Triggering the payment, NuVasive recently reached $35 million in cumulative sales of Osteocel. With this final payment, Osiris has realized the full $85 million value from the sale of its Osteocel business to Nuvasive.
NuVasive, Inc. Appoints Michael Lambert As Chief Financial Officer-Form 8-K
NuVasive, Inc. reported in its Form 8-K that on October 19, 2009, it has appointed Michael Lambert to the position of Chief Financial Officer and Executive Vice President effective November 9, 2009.
NuVasive, Inc. Raises FY 2009 Guidance
NuVasive, Inc. increased fiscal 2009 guidance for revenue to be $365 to $367 million; up from previous guidance of $360 to $365 million; GAAP earnings per share (EPS) of $0.11 to $0.14; up from previous guidance of $0.06 to $0.08; and EPS of $0.27 to $0.30 excluding adjustments; up from previous guidance of $0.25 to $0.27. According to Reuters Estimates, analysts on an average were expecting the Company to report EPS of $0.26 on revenue of $364 million for the same period.
NuVasive, Inc. Announces Upcoming Departure of Chief Financial Officer
NuVasive, Inc. announced that Kevin O'Boyle, Executive Vice President & Chief Financial Officer (CFO) , has informed the Company of his resignation from his position so that he is able to attend to personal and family obligations. The Company is currently engaged in a search for a new CFO. Mr. O'Boyle plans to remain with the Company until December 31, 2009, or potentially longer, to assist in the recruitment of his replacement and to effect an orderly transition.
