NuVasive posted net sales of $291.8 million in the fourth quarter, a 6 percent decrease compared to the same period in 2019.
Six notes:
1. Fourth-quarter net income was $30.4 million on a non-GAAP basis, down from $38.5 million in the fourth quarter of the prior year.
2. NuVasive reported a 10.1 percent decrease in full-year net sales to $1.05 year over year.
3. For the quarter ended Dec. 31, free cash flow was $44.8 million compared to $46.3 million in 2019.
4. COVID-19 continues to have a negative effect on elective surgeries and patient sentiment, "particularly within the U.S. market, which increased late in the fourth quarter," NuVasive CEO J. Christopher Barry said in a Feb. 24 news release.
5. NuVasive said it plans to advance its C360 portfolio after acquiring Simplify Medical for $150 million.
6. The company said it has submitted its application for FDA clearance of its Pulse system and its associated robotics, which it plans to launch this summer.