Mako Surgical (NSDQ:MAKO) shares are up nearly 16% so far this morning after the medical device company reported 2nd-quarter numbers that shattered expectations on Wall Street.
Ft. Lauderdale-based Mako posted losses of $19.7 million, or 42¢ per share, on sales of $28.2 million for the 3 months ended June 30. That’s a 131% increase in losses, but still 16¢ below analysts’ predictions, fueled by a 19.2% top-line gain.
The news sent MAKO shares up 15.7% to $14.38 each as of about 10 a.m. today.
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"We are pleased that our programs implemented in the 1st quarter to drive utilization and system sales are beginning to show positive business results," president & CEO Dr. Maurice Ferré said in prepared remarks. "Additionally, the recently released favorable data on both knee and hip MAKOplasty provides continuing support for the clinical value proposition of our procedures."
Mako confirmed its expectation for the sale of 45-48 new Rio systems in 2013 and 13,500-14,500 procedures performed.