Mazor Robotics halves Q2 losses on 74% sales surge

Mazor Robotics (NSDQ:MZOR) cut its 2nd-quarter losses by 50% on sales growth of nearly 74%, selling 7 of its Renaissance robot-assisted surgery platforms during the quarter.

Caesarea, Israel-based Mazor said it also sold a system upgrade during the 3 months ended June 30. The company posted losses of -$2.1 million, or -10¢ per share, on sales of $7.8 million, cutting losses by 49.9% on sales growth of 73.6% compared with Q2 2014.

Adjusted to exclude 1-time items, losses per share were -4¢, 9¢ ahead of expectations on Wall Street. Analysts there were looking for sales of $6.5 million for the quarter.

“Our record performance in the 2nd quarter reflects the growing recognition by surgeons and hospital administrations of the value our products deliver to their patients,” CEO Ori Hadomi said in prepared remarks. “I believe that the record sale of 6 systems in the U.S. in the quarter, which includes new metropolitan markets in the U.S., validates the growing momentum we’ve been feeling in the market.

“While the U.S. remains our primary growth market, we continue to make significant progress in expanding our presence internationally, as evidenced by our 1st system sale in Spain. To ensure we continue to address the needs of surgeons and the hospital administrators and maintain our leadership position in the robotic spine surgery market, we recently enhanced our sales, marketing, research and product management teams,” Hadomi added.

MZOR shares were up 1.7% to $14.24 apiece in early afternoon trading.

The post Mazor Robotics halves Q2 losses on 74% sales surge appeared first on MassDevice.

from MassDevice http://ift.tt/1IGREq0