Mako Surgical (NSDQ:MAKO) shares are up today after the medical device company reported lower 1st-quarter losses and affirmed its guidance for the rest of the year.
The Ft. Lauderdale-based company, which makes the Rio robotic surgery system, posted losses of $9.6 million, or -21¢ per share, on sales of $24.8 million during the 3 months ended March 31, paring its losses by 18.0% and boosting the top line by 26.3%.
Investors sent MAKO shares up 3.5% this morning on the news, to $10.77 apiece as of about 11:20.
"The first quarter is typically a slower quarter for Mako, and our 1st-quarter results were in line with our expectations," president & CEO Dr. Maurice Ferré said in prepared remarks. "The initial results of our programs designed to drive utilization and system sales are encouraging, and I remain confident in our outlook for 2013."
Mako confirmed its expectation for the sale of 45-48 new Rio systems in 2013 and 13,500-14,500 procedures performed.
