Shares in Mazor Robotics (NSDQ:MZOR) have fallen slightly today despite the surgical robotics platform maker topping expectations on Wall Street with its fourth quarter and full fiscal year 2017 earnings.
The Israel-based company posted profits of $437,000, or 1¢ per share, on sales of $19.1 million for the three months ended December 31, seeing a 110.2% swing from the red on the bottom-line while sales grew 36.4% when compared to the same period last year.
Adjusted to exclude one-time items, earnings per share were 3¢, well ahead of the negative 15¢ per share consensus on Wall Street, where analysts were looking for sales of $17.2 million.
For the full year, Mazor Robotics posted losses of $13.8 million, or 25¢ per share, on sales of $64.9 million, seeing losses on the bottom line shrink 27.4% while sales grew 78.5% compared with the previous fiscal year.
Adjusted to exclude one-time items, losses per share were 12¢, well ahead of the 66¢ losses per share consensus on Wall Street where analysts were looking for sales of $62.1 million.
“Our effective execution during 2017 continued to strengthen our global leadership position in spine robotics and led to record systems sales and recurring revenue. 2018 will be a year of transition during which we will emphasize synergy with Medtronic as well as procedure growth. Mazor is well positioned to benefit from the accelerating adoption of robotics for spine surgeries,” CEO Ori Hadomi said in a press release.
Shares in Mazor have fallen 1.5% so far today, at $58.31 as of 11:33 a.m. EST.
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