NuVasive reported net income of $12.2 million, or $0.23 per share, in fourth quarter results.
That’s compared to net income of $23.5 million, or $0.45 per share, for the quarter in 2017.
Revenue rose 6.3 percent year-over-year to $288.3 million during the fourth quarter, according to NuVasive.
The company posted $202.2 million in gross profit and 70.1 percent gross margin. During the same period in 2017 gross profit was $195.9 million and gross margin came to 72.2 percent.
For the full year, NuVasive posted $1.1 billion in revenue, a 7.3 percent increase over 2017.
“NuVasive delivered strong year-over-year revenue growth of more than 7 percent in 2018, demonstrating the company’s ability to take share in a stable but relatively flat U.S. spine market,” said CEO Christopher Barry.
A recent report stated that British firm Smith & Nephew is interested in buying NuVasive. However, analysts largely said the potential deal doesn’t make sense for Smith & Nephew.