Mako gets a Wall Street boost as sales soar, losses narrow in 2012

Mako Surgical logo

Surgical devices maker Mako Surgical (NSDQ:MAKO), maker of the Rio robotic surgery system, posted impressive boosts to its sales during the 4th quarter and full year of 2012.

Mako saw increases in sales of its Rios system as well as the adjunct Makoplasty Total Hip Arthroplasty application. Overall procedure volume for the Rios system increased as well, according to a press release.

The news got Mako a boost from Wall Street, which sent shares up 12.2% to $12.36 as of about 11:45 a.m. today.

The Fort Lauderdale, Fla.-based company reported a 25.6% boost in 4th-quarter sales, as well as a 47% boost in fiscal year sales in 2012. Losses widened slightly during the 4th quarter, but narrowed by nearly 10% over the course of the year.

Mako posted $5.7 million in losses, or 13¢ per share, on sales of $14.3 million during the 3 months ended Dec. 31, 2012. That compared with losses of $5.6 million, or 14¢ per share, on sales of $11.4 million during the same period in 2011.

For fiscal year 2012 Mako reported losses of $32.6 million in losses, or 76¢ per share, on sales of $50.9 million. That compared with losses of $36.1 million, or 89¢ per share, on sales of $34.6 million during 2011.

Mako reported that it sold 15 of its Rios robot surgery systems during the 4th quarter, 13 of them in the U.S., amounting to a total of 45 Rios systems worldwide during 2012.

That brings the total Rios based to 156 systems installed worldwide, 151 of them domestic.

Hospitals performed 47% more Rios procedures in 2012 than were performed in 2011 and 29% more procedures in the 4th quarter of 2012 than during the same period in 2011.

Mako expects to sell 45-48 new Rios systems in 2013, and aims to tally 13,500-14,500 procedures during the year.

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