(RTTNews) - Tuesday, medical device maker NuVasive, Inc. (NUVA) reported a surge in second quarter earnings helped by a 35% increase in revenue. The San Diego, California headquartered company also lifted its profit outlook for fiscal 2010.

NuVasive, which focuses on developing products for minimally disruptive surgical treatments for the spine, said net income for the quarter more than doubled to $6.7 million or $0.17 per share from $2.77 million or $0.07 per share in the corresponding period last year.

Adjusted net income rose to $17 million or $0.42 per share from $12 million or $0.31 per share a year earlier. On average, twenty two analysts polled by Thomson Reuters expected the company to report earnings of $0.29 per share for the quarter. Analysts' estimates typically exclude special items.

Adjusted earnings for the most recent quarter exclude, on a pre-tax basis, intellectual property litigation costs of $1.1 million; acquisition related costs of $0.6 million; stock-based compensation of $7.5 million; and amortization of intangible assets of $1.4 million.

Quarterly revenue grew more than 35% to $119.6 million, from $88.5 million in the year-ago period and came in above the $117.68 million projected by twenty three Street analysts.

Gross profit was $98.6 million and gross margin was 82.4%, compared to a gross profit of $74.2 million and a gross margin of 83.9% in the same quarter of the previous year. Operating expenses for were $90.3 million, up from $69.8 million in the same period last year.

Alex Lukianov, chairman and chief executive officer, NuVasive, Inc. said, "Our strong momentum driven by continued adoption of the XLIF technology and increased traction from our biologics and international areas gives us the confidence to increase guidance."

Looking ahead, the company raised the lower end of its 2010 revenue view to a range of $485 million to $500 million from earlier estimate of $480 million to $500 million. Presently, twenty three Street analysts expect the company to report revenues of $490.31 million for 2010.

GAAP earnings per share, net of tax and "If-converted" method, is estimated to be in the range of $1.77 to $1.91; up from previous guidance of $1.58 to $1.70. The company said it now expects full year adjusted earnings to fall within a range of $1.50 to $1.64 a share, up from its previous estimate of $1.13 to $1.25. Twenty two Street analysts presently expect the company to report earnings of $1.21 per share for 2010.

NUVA rose $0.04 or 0.12% and closed Tuesday's regular trading session at $0.04. After hours, NUVA rose further $1.49 or 4.37% and traded at $35.55.