Mazor Robotics (NSDQ:MZOR) said today that it expects its 4th-quarter revenues to top expectations on Wall Street, sending share prices up in mid-day trading.
The Caesarea, Israel-based robot-assisted surgery company said it expects to post sales of $14 million for the 3 months ended Dec. 31, 2016, ahead of the $12.9 million forecast on The Street, where analysts are looking for losses per share of -12¢ for the quarter.
That puts Mazor on track to beat analysts’ consensus full-year sales expectation of $35.4 million, with some $22 million already on the books for the 1st 9 months of last year. The consensus outlook for earnings per share is -79¢ for 2016.
The news sent MZOR shares up 4.3% to $23.01 apiece today as of about 12:50 pm Eastern.
“This is the most successful year in Mazor’s history as we set records for systems orders, utilization, and total revenue,” CEO Ori Hadomi said in prepared remarks. “Additionally, the commercial partnership with Medtronic and the market launch of the Mazor X system have favorably shifted our growth trajectory. We are positioned for continued success and accelerating market penetration.”
Mazor said orders for its Mazor X and Renaissance systems rose 138% to 62 last year, including 21 orders received during the 4th quarter.
The company said it plans to issue full Q4 and 2016 results in late February.
Tell Us What You Think!