MAKO Surgical Popping after Positive Quarter

Shares of MAKO Surgical MAKO are seeing much strength during Wednesday's trading session after the company reported fourth quarter and yearly results yesterday, which were better than analysts' expectations. MAKO Surgical reported fourth-quarter EPS of $-0.14 versus the estimated $-0.14 per share. Revenues came in at $32.9M versus the estimated $30.72M, beating by +7.1%. MAKO also announced a total of 48 of its RIO systems sold worldwide in 2011, which is a 45% increase over 2010; 2,258 MAKOplasty procedures performed in the fourth quarter, a 97% increase over the same period in 2010; and 6,932 MAKOplasty procedures performed in 2011, a 99% increase over the same period in 2010. Revenue was $32.9 million in the fourth quarter of 2011 compared to $14.8 million in the fourth quarter of 2010, representing a 122% increase. Revenue in the fourth quarter of 2011 primarily consisted of $11.4 million in revenue from the sale of implants and disposables used in the 2,258 MAKOplasty procedures performed in the quarter, $19.8 million in revenue from the sale of eighteen RIO systems and thirty-seven MAKOplasty THA applications and $1.7 million in revenue from service. Gross profit for the fourth quarter of 2011 was $22.4 million compared to a gross profit of $8.8 million in the same period in 2010. Gross margin for the fourth quarter of 2011 was 68%, consisting of a 75% margin on procedure revenue, a 64% margin on RIO system revenue and a 72% margin on service revenue. Currently, shares of MAKO Surgical are trading higher by about 6.8% at $40.00 per share.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: EarningsNewsPre-Market OutlookMoversHealth CareHealth Care Equipment
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!