Mako Surgical says 2Q surgical procedures grow

Mako Surgical takes bigger 2nd-quarter loss, while Rio surgical procedures rose 26 percent

Associated Press

FORT LAUDERDALE, Fla. (AP) -- Medical device maker Mako Surgical Corp. posted a larger second-quarter loss on Tuesday, but said surgical procedures performed with its Rio system improved.

The company's shares rose $1.02, or 8.2 percent, to $13.45 in after-hours trading.

Mako reported a loss of $19.7 million, or 42 cents per share. A year ago it lost $8.5 million, or 20 cents per share. Revenue grew 19 percent, to $28.2 million. The company said procedure revenue rose 26 percent to $16.4 million, and revenue from system sales and service was up by smaller amounts.

Analysts forecast a loss of 21 cents per share on $28.9 million in revenue, according to FactSet.

The company's Rio systems are used to help plan and execute hip and knee surgeries. They include software, a robotic arm and other surgical instruments. Mako said surgical procedures grew 26 percent to 3,274. It sold 10 Rio systems during the quarter and has sold 171 in total.

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